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PBR » Topics » Petrobras Announces Second Quarter 2009 Earnings of R$ 7.7 bi

This excerpt taken from the PBR 6-K filed Aug 17, 2009.

Petrobras Announces Second Quarter 2009 Earnings of R$ 7.7 bi

Rio de Janeiro, August 14, 2009 – PETRÓLEO BRASILEIRO S/A - PETROBRAS, announces its consolidated results of the second quarter 2009 (2Q09), in accordance with generally accepted accounting practices in Brazil (BR GAAP).

The net income was R$ 7.7 billion (R$ 0.88 per share), 33% up on the previous quarter earnings of R$ 5.8 billion (0.66 per share). The earnings per ADR was R$ 1.76 in the 2Q09 versus R$ 1.32 in the 1Q09.

The result was mainly due to production increase, recovery of oil prices and reduction of operating expenses. Operating cash flow, measured by EBITDA, came to R$ 17.5 billion in the quarter.

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