SAO PAULO Feb 23 Via Varejo SA,
Brazil's largest appliance retailer, booked pro forma
fourth-quarter net income of 13 million reais ($4 million) on
Thursday as it reaped cost savings from the integration of
online unit Cnova Brasil.
The swing to profit, accounting for a full three months of
online and offline operations, reversed a net loss of 474
million reais a year earlier and was well above the Thomson
Reuters consensus estimate of a 206 million reais net loss.
Via Varejo said its quarterly net profit including just two
months of the online operation was 75 million reais.
Pro forma earnings before interest, tax, debt and
amortization, a gauge of profitability known as EBITDA, rose
tenfold from a year earlier to 469 million reais.
Via Varejo posted a net loss of 90 million reais in the
third quarter as Brazil's prolonged recession eroded consumer
confidence and demand for electronic goods.
($1 = 3.0777 reais)
(Reporting by Brad Haynes and Ana Mano; Editing by Bernadette