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PBR » Topics » Pag: 103

This excerpt taken from the PBR 6-K filed Nov 21, 2007.

Pag: 103

(A free translation of the original report in Portuguese)

 

FEDERAL PUBLIC SERVICE   
BRAZILIAN SECURITIES COMMISSION (CVM)  
ITR - QUARTERLY INFORMATION - As of - 09/30/2007 Corporate Law 
COMMERCIAL, INDUSTRIAL & OTHER TYPES OF COMPANY   
This excerpt taken from the PBR 6-K filed Jun 8, 2007.

Pag: 103

Net income for 1Q-2007 (R$ 4.131 million) was 21% below the R$ 5.200 million reported in 4Q-2006.  The gross margin increased from the prior quarter, primarily due to the reduction in the government take, and import costs.  The increased gross margin, however, was more than offset by the non-recurring expense from the financial incentive paid to the pension plan participants, the impact of the exchange variation on the financial result, and the increase in the marginal tax rate relative to the fiscal benefit from interest on own capital declared in the 4Q-2006.  Below is a breakdown of the differences between 1Q-2007 and 4Q-2006:

• R$ 920 million increase in gross profit:

Changes 1Q-2007 X 4Q-2006
MAIN INFLUENCES
    R$ million
             
Main Items   Net
Revenues 		   Cost of
Goods Sold  		   Gross 
Profit
 
. Domestic Market:       - Effect of Volumes Sold    (1.901)   1.196    (705)
                                     - Effect of Prices    (156)                -    (156)
. Intl. Market:               - Effect of Export Volumes    (750)   382    (368)
                                     - Effect of Export Price    117                 -    117 
. Increase / Decrease in expenses: (*)                  -    1.607    1.607 
. Increase / Decrease in Profitability of Distribution Segment    169    (145)   24 
. Increase / Decrease in operations of commercialization abroad    (431)   452    21 
. Increase / Decrease in international sales    (81)   135    54 
. FX effect on controlled companies abroad    90    (68)   22 
. Other   796    (492)   304 
       
    (2.147)   3.067    920 
       

(*) Expenses Composition:    Value 
- Import of gas, crude oil and oil products**    1.316 
- Domestic Government Take    660 
- Materials, Services and Depreciation    (149)
- Salaries, Perquisites and Benefits    (99)
- Third-Party Services    (86)
- Transportation: Maritime and Pipelines ***    (35)
   
    1.607 
   

** CIF Value.
*** Expenditures with cables, terminals, and pipelines.

EXCERPTS ON THIS PAGE:

6-K
Nov 21, 2007
6-K
Jun 8, 2007

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