Grazziotin S.A. said its normalized net income for the third quarter came to 42 Brazilian centavos per share, a gain of 33.1% from 32 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 9.3 million reais, a gain of 33.4% from 7.0 million reais in the prior-year period.

The normalized profit margin rose to 10.8% from 8.0% in the year-earlier period.

Total revenue totaled 88.0 million reais, compared with 87.3 million reais in the year-earlier period, and total operating expenses rose from the prior-year period to 84.4 million reais from 83.3 million reais.

Reported net income increased 20.8% on an annual basis to 10.6 million reais, or 48 centavos per share, from 8.8 million reais, or 40 centavos per share.

As of Nov. 11, US$1 was equivalent to 3.49 reais.