Net income tumbled 59% to BRL 143,721,000 ($27.3 mm) from BRL 353,277,000 for the second quarter as revenue gained 11% to BRL 994,840,000 ($189.0 mm) over BRL 894,811,000. The bottom line lapped last year’s windfall BRL 208.4 million in tax credits, and recurring net income excluding the credits slipped just 1%. Domestic sales increased 13% to BRL 975.5 million, offsetting a foreign decline of 43% to BRL 19.3 million, due to ongoing Argentine challenges. E-commerce was up 16% to BRL 153.3 million, building on last year’s +34% result.

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