This excerpt taken from the PBR 6-K filed Nov 21, 2007.
(1) Before financial income and expenses and equity pick-up.
The main factors that contributed towards generating net income in the period from January to September 2007, in relation to the same period in 2006, were as follow:
A 3% increase in net operating revenue:
Offset by the effect of exchange rate fluctuations on the price of commodities in the international market.
A reduction of 1% in the average unit costs of the products sold, as a result of: