Net income from continuing operations fell 61% in the second quarter to BRL 48,222,000 ($9.2 mm) from BRL 123,926,000, but after adjusting for the Rothy’s acquisition, recurring net income was down just 6% to BRL 113,510,000 from BRL 121,329,000. Revenues increased 2% to BRL 1,061,353,000 ($202.5 mm) from BRL 1,041,219,000, consisting entirely of Havaianas since the Brazilian footwear company divested Osklen. Rothy’s, in which ALPA holds a 49.9% stake, will be accounted ... Log in to view full article.