Dasa Declines Most Since July After Reporting Surprise LossDenyse Godoy
Diagnosticos da America SA, the Brazilian medical-diagnostics company known as Dasa, fell the most since July after reporting its first net loss since 2010.
Shares slumped 5.5 percent to 12.30 reais, or $6.26, at the close of trading in Sao Paulo, the biggest one-day drop since July 25. Brazil’s benchmark Bovespa index slid 1 percent.
Dasa surprised analysts forecasting an eighth consecutive quarterly profit by posting a 1.4 million reais ($712,758) adjusted net loss for the last three months of 2012. Sales slumped 19 percent to 547.4 million reais in the fourth quarter, falling short of the 552 million reais average of seven analysts’ estimates compiled by Bloomberg.
Dasa’s results were “weak and below expectations,” Thiago Macruz, an analyst at Itau BBA, wrote in a note to clients dated today. “The big miss this quarter will likely lead the market to revisit expectations for 2013, probably leading to some downward earnings revision.”
Shares of the medical-diagnostics company have declined 6.7 percent this year, while the Bovespa is down 8.2 percent.