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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: wl9839 who wrote (21246)	8/7/2000 11:22:53 AM
From: wl9839	Read Replies (2) \| Respond to of 22640

Brazil's Telemar Seen Posting Profit in 2-Qtr: Earnings Outlook Sao Paulo, Aug. 7 (Bloomberg) -- Tele Norte Leste Participacoes SA, also known as Telemar, is expected to release the following earnings. Expected Earnings Telemar, Brazil's largest fixed-line telephone company, is expected to report second-quarter net income of 54 million reais ($30.1 million), according to the average forecast of six analysts polled by Bloomberg News. That compares with a loss of 32.1 million reais for the year-ago period. The second-quarter estimates ranged from 28 million reais to 95 million reais. Reporting Time The company said it will report second-quarter earnings today, after markets close. Behind the Numbers Telemar installed phone lines, boosting overall revenue. Telemar is expected to add about 440,000 new phone lines in the three months to June 30, with total lines seen reaching about 10.3 million. The new phone lines will help boost earnings before interest, taxes, depreciation and amortization, a common measure of cash flow, about 21 percent to 865.8 million reais, according to analysts' estimates. What Experts Say ``Tele Norte Leste is experiencing very strong operating momentum and we could review our numbers if the company confirms the positive trend,'' said Morgan Stanley Dean Witter & Co. analysts Luiz Carvalho, Vera Rossi and Steve Amaro in a report. Market Performance Telemar shares have gained 1.6 percent since the beginning of the year, compared with a 1.1 percent decline in Brazil's benchmark Bovespa index. Previous Market Reaction Telemar's most-traded preferred shares gained 6.3 percent to 31.9 reais when the company reported first-quarter net income slumped to 17.8 million reais, from 189.5 million reais in the year ago period, because the company changed the way it accounted for depreciation costs. -------------------------------------------------------------------------------- © Copyright 2000, Bloomberg L.P. All Rights Reserved.