Net income was up 84% to BRL 133,733,000 ($24.1 mm) over BRL 72,700,000 on 1% lower revenue of BRL 1,770,288,000 ($318.7 mm) from BRL 1,793,263,000 for the third quarter, excluding inter-group exclusions and returns. The bottom line benefited from a 32% reduction in financial expenses and a swing to BRL 7.8 million in income tax benefit from BRL 7.2 million in expenses prior. Meanwhile, companywide gross margin improved 390 b.p. to 50.3% from 46.4%. Operating expense rose 5% in reals, deleveraging 200 b.p. to 35.0% of sales.

The Fisia segment, which includes ... Log in to view full article.