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Technos swings to profit in Q1

Technos S.A. said its normalized net income for the first quarter came to 3 Brazilian centavos per share, compared with a loss of 3 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.3 million reais, compared with a loss of 2.1 million reais in the year-earlier period.

The normalized profit margin increased to 2.5% from negative 3.1% in the year-earlier period.

Total revenue rose 10.3% on an annual basis to 74.2 million reais from 67.3 million reais, and total operating expenses grew 7.0% year over year to 73.0 million reais from 68.2 million reais.

Reported net income came to 1.5 million reais, or 2 centavos per share, compared to a loss of 5.4 million reais, or a loss of 7 centavos per share, in the prior-year period.

As of April 30, US$1 was equivalent to 3.00 reais.