Lima Caucho SA said its first-quarter normalized net income amounted to a loss of 12 Peruvian céntimos per share, compared with a loss of 6 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.6 million soles, compared with a loss of 1.3 million soles in the year-earlier period.

The normalized profit margin fell to negative 14.9% from negative 4.3% in the year-earlier period.

Total revenue fell 41.4% on an annual basis to 17.8 million soles from 30.4 million soles, and total operating expenses decreased 35.7% on an annual basis to 19.3 million soles from 30.1 million soles.

Reported net income totaled 5.3 million soles, or 25 céntimos per share, compared to a loss of 2.1 million soles, or a loss of 10 céntimos per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 3.28 soles.