(Adds financial details)
BRASILIA, April 26 Estácio Participações SA
, Brazil's No. 2 for-profit education company, on
Wednesday missed profit estimates in the first quarter after
higher interest and financial expenses, including depreciation,
partially offset stronger operational results.
Rio de Janeiro-based Estácio, which is being acquired by
larger rival Kroton Educacional SA ,
posted net income of 121.8 million reais ($38.40 million) last
quarter, down 4.8 percent from the same period a year ago. The
number came in below the consensus estimate of 141.82 million
reais compiled by Thomson Reuters.
Earnings before interest, tax, depreciation and
amortization, a gauge of operational profit known as EBITDA,
rose 9 percent to 214.8 million reais, above a consensus
estimate of 201 million reais for the first quarter.
($1 = 3.1720 reais)
(Reporting by Gabriela Mello; Writing by Alonso Soto; Editing
by Jonathan Oatis and Matthew Lewis)