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April 22, 2008 |
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NET SERVICOS: Earns US$19.4 Million in 2008 First Quarter Net Servicos de Comunicacao SA reports BRL32.3 million or US$19.4 million of net income for the first quarter of 2007, up 9% compared to BRL29.6 million for the same quarter of 2006, Business News Americas reports. For the first quarter of 2007, the company's net revenues boosted 26.7% year-on-year to BRL830 million from BRL655 million, the report adds. According to the report, the company's operational costs moved 32.6% at BRL395 million in the 2008 first quarter, compared to BRL298 million for the 2007 first quarter. The increase resulted from higher workforce expenses, up 73% year-on-year, as well as efforts to sustain quality targets for customer care and maintenance services. Headquartered in Sao Paulo, Brazil, Net Servicos de Comunicacao SA -- http://nettv.globo.com/NETServ/us/empr/sobr_visao.jsp -- is the largest pay-television operator in Latin America. The company operates in 79 Brazilian cities, including Sao Paulo, Rio de Janeiro, Belo Horizonte and Porto Alegre. It is also the leading provider of high-speed cable modem Internet access through Net Virtua service. Its advanced network of coaxial and fiber-optic cable covers over 44,000 kilometers and passes approximately 9 million homes. * * * As reported in the Troubled Company Reporter-Latin America on Jan. 21, 2008, Moody's Investors Service assigned a Ba2 foreign currency rating to the proposed up to US$200 million guaranteed long term senior unsecured notes to be issued by Net Servicos de Comunicacao S.A. The rating outlook is stable. |
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