Gafisa 1st-Quarter Net Profit BRL13.7 Mln Vs BRL64.8 Mln
Crap, I had the date wrong!
SAO PAULO (Dow Jones)--Brazilian real-estate developer Gafisa SA (GFA) on Monday posted a decline in its first-quarter net profit as revenue fell.
Gafisa's net profit totaled 13.7 million Brazilian reais ($8.4 million) in the first quarter, down from BRL64.8 million in the first quarter of 2010.
Net revenue totaled BRL800 million, compared with BRL907.5 million.
"We experienced a weaker first quarter of 2011 than the first quarter of 2010, which represented an exceptionally strong start to 2010. Gafisa first quarter operational results were affected by timing delays of some of our launches," Gafisa Chief Executive Wilson Amaral said in a statement.
The company's earnings before interest, taxes, depreciation and amortization were BRL106.5 million, down from BRL168.4 million. Ebitda margin, a measure of profitability, was 13.3% in the first quarter, compared with 18.6% in the year-earlier period.
-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071; email@example.com
Yeah, it was getting ridiculously oversold at those levels. MMs picked her up and dusted her off for a run to the prom. Bovespa pretty beat up overall but held up nicely today. I also picked up some small CZZ and CRESY. Figured they were due as well. Got a lot going on today - hard to focus. Was just reading my post above - "closed" gap? Hahahaha