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Marisa Lojas swings to loss in Q1

4221526 said its normalized net income for the first quarter amounted to a loss of 4 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 16 centavos per share.

The per-share result swung to a loss from the prior-year profit of 7 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 7.5 million reais, compared with income of 14.9 million reais in the year-earlier period.

The normalized profit margin dropped to negative 1.1% from 2.1% in the year-earlier period.

Total revenue fell on an annual basis to 679.9 million reais from 697.8 million reais, and total operating expenses climbed year over year to 660.0 million reais from 633.2 million reais.

eported net income came to a loss of 5.3 millio Marisa Lojas SA