TOTVS S.A. Reports Unaudited Consolidated Earnings Results for the Third Quarter of 2017
November 08, 2017 at 04:00 pm EST
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TOTVS S.A. reported unaudited consolidated earnings results for the third quarter of 2017. For the quarter, the company reported net revenue of BRL 562.3 million compared to BRL 537.5 million, a 4.6% increase from last year, adjusted EBITDA of BRL 62.3 million compared to BRL 86.5 million, a 28% decrease from last year, adjusted net income of BRL 21.5 million compared to BRL 44.8 million, a 52% decrease from last year and net debt of BRL 358.8 million, a 25% decrease from last year. Net income before taxes was BRL 13.7 million compared to BRL 32.1 million a year ago. Net operating cash flow was BRL 77.6 million compared to BRL 86.1 million a year ago. Purchases of intangible assets were BRL 5.3 million compared to BRL 11.8 million a year ago. Acquisition of fixed assets was BRL 5.3 million compared to BRL 11.8 million a year ago.
Totvs SA is a Brazil-based company engaged in the information technology (IT) sector. The Company focuses on developing integrated management software solutions, collaboration and productivity platforms, as well as on consulting services. The Company mainly provides enterprise resource planning (ERP) applications, which electronically integrate the strategic and operational levels of a user company. It offers ERP software in various areas, such as administration, education, finance, industrial, human resources, customer service and logistics. The Company operates in Brazil, Argentina, Colombia, Mexico, Portugal and the United States, among others. It controls a number of subsidiaries, including Solucoes em Software e Servicos TTS Ltda, Datasul Argentina SA and Neolog Consultoria e Sistemas SA.
TOTVS S.A. 
