Biosev S.A. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 13 Brazilian centavos per share, compared with a loss of 55 centavos per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.8 million reais, compared with a loss of 113.2 million reais in the year-earlier period.
The normalized profit margin increased to negative 2.9% from negative 11.0% in the year-earlier period.
Total revenue climbed 64.1% on an annual basis to 1.69 billion reais from 1.03 billion reais, and total operating expenses climbed 56.9% from the prior-year period to 1.55 billion reais from 988.2 million reais.
Reported net income totaled 161.9 million reais, or 77 centavos per share, compared to a loss of 86.6 million reais, or a loss of 42 centavos per share, in the year-earlier period.
As of Feb. 11, US$1 was equivalent to 3.97 reais.