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Gafisa S.A. Message Board

  • aco_brasil0192 aco_brasil0192 May 10, 2011 6:54 AM Flag

    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; rogerio.jelmayer@dowjones.com

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GFA
3.35+0.02(+0.60%)Apr 17 4:03 PMEDT

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