Renauxview SA said its normalized net income for the first quarter amounted to a loss of 3.57 reais per share, compared with a loss of 1.02 reais 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 15.2 million reais, compared with a loss of 4.3 million reais in the year-earlier period.

The normalized profit margin dropped to negative 80.2% from negative 23.1% in the year-earlier period.

Total revenue increased year over year to 19.0 million reais from 18.7 million reais, and total operating expenses grew 13.3% on an annual basis to 21.2 million reais from 18.7 million reais.

Reported net income totaled a loss of 24.4 million reais, or a loss of 5.72 reais per share, compared to a loss of 7.0 million reais, or a loss of 1.64 reais per share, in the prior-year period.

As of May 13, US$1 was equivalent to 3.51 reais.