NOVA LIMA, Brazil (AP) — NOVA LIMA, Brazil (AP) — Afya Ltd. (AFYA) on Thursday reported first-quarter net income of $41.1 million.

On a per-share basis, the Nova Lima, Brazil-based company said it had net income of 45 cents. Earnings, adjusted for amortization costs and stock option expense, came to 55 cents per share.

The medical education company posted revenue of $162.4 million in the period.

Afya shares have fallen 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.18, a rise of 58% in the last 12 months.

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