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

To: Alfredo Nova who wrote (15311)	5/15/1999 3:12:00 PM
From: wl9839	Respond to of 22640

Brazil's Tele Sudeste Cellular 1Q Net Pft BRR22M Vs 62M Dow Jones Newswires Tele Sudeste Celular Participacoes SA - Sao Paulo Three months ending March 31 All figures in reals ($1=BRR1.655) 1999 1998 Net operating revenue 318 mln 238 mln EBITDA (a) 89 mln 160 mln Net profit 22 mln 62 mln a) Earnings before interest, tax, depreciation and amortization. SAO PAULO -- Brazilian cellular phone carrier Tele Sudeste Celular Participacoes SA (TSD) Friday announced a first quarter net profit of BRR22 million, down from BRR62 million in the same period in 1998. The company, a unit of Spain's Telefonica SA (TEF) serving the states of Rio de Janeiro and Espirito Santo, posted a net operating revenue of BRR318 million, up 33% from the same period the previous year. Telefonica said in a written statement that the jump in revenue was a result of an increased number of terminals. Tele Sudeste Celular finished the first quarter with 931,000 installed terminals, up from 772,000 at the end of 1998. The company expects to finish 1999 with 1.5 million terminals. The drop in net profit was attributed to an increase in the cost of services rendered and expansion costs. The first quarter result was also negatively affected by the devaluation of the real in mid-January and equipment depreciation, which increased expenditures.

To: Alfredo Nova who wrote (15311)	5/15/1999 3:15:00 PM
From: wl9839	Read Replies (1) \| Respond to of 22640

DJ Brazil's Tele Norte Leste 1Q Net Pft BRR221.3M Vs BRR141.8M Tele Norte Leste Participacoes SA (Telemar) - Rio de Janeiro Three Months Ending March 31: Figures in reals (BRR). 1999 1998 Gross operating revenue 1.88 bln 1.68 bln Net operating revenue 1.40 bln 1.23 bln EBITDA 753.1 mln 620.6 mln Net profit 221.3 mln 141.8 mln Earnings per share (EPS)-a 0.6617 0.4240 ($1=BRR1.6545) a. per thousand shares SAO PAULO (Dow Jones)--Brazil's Tele Norte Leste Participacoes SA (TNE) said Monday it recorded a net profit of 221.3 million reals ($1=BRR1.6545) in the quarter ended March 31, a 56% increase in local currency terms over the BRR141.8 million posted in the same year-ago quarter. Tele Norte Leste, a telecommunications holding that operates 16 companies under the Telemar brand, attributed its increased receipts to savings from a 26% workforce cut, that resulted in a 25% reduction in personnel expenses. The company inherited a bloated payroll from its previous owner, former state-monopoly Telecomunicacoes Brasileiras SA (TBR), or Telebras, which was privatized last July. Tele Norte Leste said it posted losses of BRR426 million related to a depreciation of the real, which lost about 30% of its value against the dollar since January, when it was allowed to float freely. The holding's gross operating revenue rose to BRR1.88 billion, from BRR1.68 billion, after installed lines rose by 1.5 million to 9.2 million, the company said. Earnings per thousand shares in the first quarter of the year stood at BRR0.6617, up from BRR0.4240 in the same period in 1998. In early trading Monday on the Sao Paulo Stock Exchange, Tele Norte Leste preferred shares were tracking the broader market's downturn, off 0.7% at BRR32.79 per thousand.