BUENOS AIRES, Argentina (AP) _ Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) on Friday reported fiscal first-quarter net income of $39.6 million, after reporting a loss in the same period a year earlier.
The company said it had net income of 77 cents per share. Earnings, adjusted to account for discontinued operations, were $1.61 per share.
The agricultural company posted revenue of $132.3 million in the period.
The company's shares closed at $3.89. A year ago, they were trading at $4.45.
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Cresud SACIF y A is an Argentina-based company engaged mainly in telecommunications sector. Through its subsidiaries, it operates two segments: Agricultural Business and Urban Properties and Investment Business, which is divided into: Operations Center Argentina and Operations Center Israel. Agricultural Business focuses on acquiring, developing and exploiting agricultural properties. It is involved in farming activities, cattle raising, leasing land to third parties and perform agency and agro-industrial services, including a meat packing plant. Operations Center Argentina is engaged in the development, acquisition and operation of shopping malls, offices and hotels, among others, in Argentina, and owns selective investments outside Argentina. Operations Center Israel includes real estate activities in Israel and abroad, supermarket chain management and telecommunications services, both locally, as well as is engaged in the insurance, pension and provident funds, among others.
CRESUD SOCIEDAD ANÓNIMA, COMERCIAL, INMOBILIARIA, FINANCIERA Y AGROPECUARIA 
