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Technos swings to loss in Q3

Technos S.A. said its third-quarter normalized net income was a loss of 5 Brazilian centavos per share, compared with 6 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 a loss of 3.8 million reais, compared with income of 4.5 million reais in the year-earlier period.

The normalized profit margin fell to negative 4.8% from 5.2% in the year-earlier period.

Total revenue declined 7.3% on an annual basis to 79.3 million reais from 85.5 million reais, and total operating expenses rose 7.0% from the prior-year period to 84.6 million reais from 79.0 million reais.

Reported net income came to a loss of 6.2 million reais, or a loss of 8 centavos per share, compared to income of 7.2 million reais, or 9 centavos per share, in the prior-year period.

As of Oct. 27, US$1 was equivalent to 3.16 reais.