Bloomberg News

Dasa Declines Most in a Month as Earnings Trail Estimates

November 17, 2011

(Updates with closing prices in second paragraph.)

Nov. 16 (Bloomberg) -- Diagnosticos da America SA, 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 3.9 percent to 14.06 reais at the close of Sao Paulo trading, the most since Oct. 4.

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.

--Editors: Glenn J. Kalinoski, Richard Richtmyer

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulos@bloomberg.net


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