March 22, 2017 / 11:33 AM / a year ago

CORRECTED-Brazil's Kroton reports 19 pct rise in adjusted Q4 net income

(Corrects to say net income, not net income excluding one-time items, was 377.7 million reais in paragraph 2)

SAO PAULO, March 22 (Reuters) - Brazil’s largest education firm Kroton Educacional SA on Wednesday reported a 19.3 percent rise in adjusted fourth-quarter net income, to 487.6 million reais, above a consensus estimate of 427.9 million reais compiled by Thomson Reuters.

Net income came in at 377.7 million reais last quarter, according to a statement. Adjusted net income excludes the effects of the sale of unit Uniasselvi in the final quarter of 2015 and other one-time items.

Adjusted earnings before interest, tax, depreciation and amortization, a gauge of operating profitability known as EBITDA, rose 2 percent to 528.7 million reais, in line with an estimate of 530.8 million reais. (Reporting by Ana Mano; Editing by Daniel Flynn)

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