Fras-le Reports Results for First Quarter of 2012

Brazil - Português

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May 07, 2012, 05:09 ET

CAXIAS DO SUL, Brazil, May 7, 2012 /PRNewswire/ -- Fras-le S.A., listed on the Sao Paulo Stock Exchange (BM&FBovespa) under ticker symbols FRAS3 and FRAS4, a Randon group company that is Latin America's largest and one of the world's leading manufacturers of friction materials, announces its results for the first quarter of 2012 (1Q12). Except where stated otherwise, the operating and financial information is presented on a consolidated basis and the amounts are expressed in Brazilian reais, in accordance with the International Financial Reporting Standards (IFRS) Issued by the International Accounting Standards Board (IASB) and the accounting practices adopted in Brazil. Comparisons are with the fourth quarter of 2011 (4Q11) and the first quarter of 2011 (1Q11).

KEY 1Q12 RESULTS

Total gross revenue before consolidation: R$209.3 million, 10.9% up on 4Q11 and 17.5% more than in 1Q11;
Consolidated net revenue: R$151.5 million, 10.5% improvement over 4Q11 and 13.4% up on 1Q11;

Net revenue from the domestic market: R$86.7 million, 28.3% increase over 4Q11 and 20.0% higher than in 1Q11;
Net revenue from the export market: R$64.8 million, 6.8% down on 4Q11 and 5.5% up on 1Q11;
Fras-le Brazil Exports (FOB): US$25.9 million, 9.7% decrease from 4Q11 and 9.9% less than in 1Q11;
Sales in foreign markets (exports and units abroad): US$36.5 million, 5.5% below 4Q11 and a 2.8% decrease from 1Q11;
EBITDA: R$16.0 million, 6.6% up on 4Q11 and 7.0% down on 1Q11;
Consolidated gross profit: R$36.0 million, 6.8% increase over 4Q11 and 7.5% more than in 1Q11;
Consolidated net income: R$4.7 million, 49.5% down on 4Q11 and 54.7% less than in 1Q11.