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Minupar Participaçíµes swings to loss in Q4

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Minupar Participaçíµes swings to loss in Q4

Minupar Participações S/A said its fourth-quarter normalized net income came to a loss of 4 Brazilian centavos per share, compared with 14 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 a loss of 263,630 reais, compared with income of 1.0 million reais in the year-earlier period.

The normalized profit margin fell to negative 0.5% from 2.1% in the year-earlier period.

Total revenue rose 11.7% year over year to 55.3 million reais from 49.5 million reais, and total operating expenses increased year over year to 46.5 million reais from 45.8 million reais.

Reported net income totaled a loss of 3.8 million reais, or a loss of 54 centavos per share, compared to a loss of 11.6 million reais, or a loss of 1.63 reais per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 65 centavos per share, compared with 5 centavos per share in the prior year.

Normalized net income was a loss of 4.6 million reais, compared with income of 364,880 reais in the prior year.

Full-year total revenue rose 10.8% year over year to 207.3 million reais from 187.2 million reais, and total operating expenses grew 18.9% on an annual basis to 181.7 million reais from 152.9 million reais.

The company said reported net income totaled a loss of 11.1 million reais, or a loss of 1.56 reais per share, in the full year, compared with a loss of 2.2 million reais, or a loss of 30 centavos per share, the prior year.

As of March 10, US$1 was equivalent to 3.67 reais.