Dasa Falls Most in a Month as Quarterly Earnings Trail Estimates
Diagnosticos da America SA (DASA3), the medical-diagnostics firm known as Dasa, fell the most in more than a month after its third-quarter earnings trailed analysts’ estimates.
Dasa dropped 3.6 percent to 14.10 reais at 1:30 p.m. Sao Paulo time after earlier tumbling as much as 4.4 percent, the most on an intraday basis since Oct. 5.
The company posted third-quarter net income of 56.6 million reais ($32 million), according to a regulatory filing. That compares to an average forecast of 57.5 million reais among seven analysts surveyed by Bloomberg. Dasa’s operating expenses rose 30 percent to 61 million reais in the quarter, according to the filing.
“Results were weak and slightly below our already limited expectations, showing a significant sequential increase in costs, which drove margins down,” Banco Itau BBA analyst Marcio Osako wrote in a note to clients.
Itau had forecast a third-quarter profit of 59 million reais.
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