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Sí£o Martinho profit misses consensus by 49.2% in fiscal Q3

São Martinho SA said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 8 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 16 centavos per share.

EPS rose 10.1% year over year from 7 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.9 million reais, a gain of 10.8% from 25.2 million reais in the prior-year period.

The normalized profit margin declined to 5.7% from 8.0% in the year-earlier period.

Total revenue climbed 58.9% on an annual basis to 497.1 million reais from 312.8 million reais, and total operating expenses climbed 50.5% from the prior-year period to 402.0 million reais from 267.1 million reais.

Reported net income grew 62.5% from the prior-year period to 53.5 million reais, or 16 centavos per share, from 33.0 million reais, or 10 centavos per share.

As of Feb. 9, US$1 was equivalent to 2.79 reais.