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Estrela Q1 loss widens 22.5% YOY

Manufatura de Brinquedos Estrela SA said its first-quarter normalized net income amounted to a loss of 10.75 reais per share, compared with a loss of 8.78 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 8.7 million reais, compared with a loss of 7.1 million reais in the prior-year period.

The normalized profit margin rose to negative 44.7% from negative 52.5% in the year-earlier period.

Total revenue grew 43.8% on an annual basis to 19.4 million reais from 13.5 million reais, and total operating expenses increased 44.9% on an annual basis to 28.7 million reais from 19.8 million reais.

Reported net income totaled a loss of 13.9 million reais, or a loss of 17.20 reais per share, compared to a loss of 11.4 million reais, or a loss of 14.04 reais per share, in the year-earlier period.

As of May 15, US$1 was equivalent to 2.98 reais.