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Viver Incorporadora e Construtora Q3 loss narrows YOY

Viver Incorporadora e Construtora S.A. said its normalized net income for the third quarter was a loss of 8.82 reais per share, compared with a loss of 9.34 reais 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 30.6 million reais, compared with a loss of 31.3 million reais in the prior-year period.

The normalized profit margin declined to negative 77.1% from negative 65.4% in the year-earlier period.

Total revenue decreased year over year to 45.7 million reais from 47.9 million reais, and total operating expenses decreased 16.4% year over year to 76.9 million reais from 92.0 million reais.

Reported net income came to a loss of 57.7 million reais, or a loss of 16.64 reais per share, compared to a loss of 27.5 million reais, or a loss of 8.20 reais per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 3.82 reais.