International Meal Co. Alimentação SA said its normalized net income for the second quarter came to a loss of 15 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 centavos per share.

The per-share result swung to a loss from the prior-year profit of 8 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 12.9 million reais, compared with income of 6.4 million reais in the prior-year period.

The normalized profit margin was 3.5%.

Total revenue came to 490.1 million reais, and total operating expenses totaled 499.0 million reais.

Reported net income totaled a loss of 18.5 million reais, or a loss of 22 centavos per share, compared to income of 11.7 million reais, or 14 centavos per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to 3.50 reais.