CSN Reports 31.4 Percent Gain In 1Q95 Net Revenue; BRAZIL'S TOP STEEL MAKER POSTS 919 PERCENT RISE IN PROFITS.RIO DE JANEIRO Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r , Brazil--(BUSINESS WIRE)-- June June: see month. 9, 1995--Companhia
Siderurgica Nacional Nacional is the Spanish and Portuguese word for national. It can refer to: Sports
CSN Centrala studiestödsnämnden (Swedish: state education grant and loan program) CSN Confédération des Syndicats Nationaux (French) (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CSNMY/SAO PAULO Paulo is the Portuguese form of the given name Paul:
n. 1. a. The Indo-European language of the ancient Latins and Romans and the most important cultural language of western Europe until the end of the 17th century. b. America's dominant steel producer, today reported a 31.4 percent gain in first quarter net revenue, to $577.559 million, up from net revenue of $439.467 million in the first quarter of 1994. CSN also posted an increase of 810 percent in first quarter net income (profit prior to income tax), and a 919 percent rise in profitability. Net income for the period was $47.449 million, up from a loss of $6.684 million in the year ago quarter. The Company's profit for the period was $35.408 million, as contrasted with a profit of $3.475 million in the same quarter of 1994. On a per share basis, first quarter earnings were .41 reais ($.458) per 1000 shares, as compared with first quarter 1994 earnings of .04 reais ($.045) per 1000 shares. (Exchange rate: $1 = .896 reais.) "CSN is achieving production and sales records because of our modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, program," Mr. Marcos A. Jacobsen Jacobsen may refer to:
CSN and the Rio de Janeiro state government have agreed to a cooperative effort to transform the southern area into an industrial center reaching from the city of Rio de Janeiro to the city of Taubate Tau·ba·té A city of southeast Brazil northeast of São Paulo. Founded in 1645, it is a commercial center with an important textile industry. Population: 250,000. and focused on steel making and supplying the needs of CSN. Later this year CSN said it will sign an accord with CODIN, the state-owned state-owned adj → estatal, del estado state-owned adj → étatisé(e) state-owned state adj → industrial development company, to set up an industrial district on CSN property in Barra Mansa Bar·ra Man·sa A city of southeast Brazil west-northwest of Rio de Janeiro. It is a rail junction and an industrial center. Population: 171,000. . The project will accelerate growth in Medio Paraiba Pa·ra·í·ba also Paraíba do Sul A river, about 1,046 km (650 mi) long, of southeast Brazil emptying into the Atlantic Ocean near Campos. and profoundly alter the economics of the region within a few years, CSN said. The Company also announced plans to invest heavily to achieve a 12 percent increase in production of galvanized gal·va·nize tr.v. gal·va·nized, gal·va·niz·ing, gal·va·niz·es 1. To stimulate or shock with an electric current. 2. steel. CSN s output of galvanized, which is consumed con·sume v. con·sumed, con·sum·ing, con·sumes v.tr. 1. To take in as food; eat or drink up. See Synonyms at eat. 2. a. entirely in Brazil, will reach 640,000 tons by the end of the year. The Company said galvanized or zinc zinc, metallic chemical element; symbol Zn; at. no. 30; at. wt. 65.38; m.p. 419.58°C;; b.p. 907°C;; sp. gr. 7.133 at 25°C;; valence +2. Zinc is a lustrous bluish-white metal. It is found in Group 12 of the periodic table. coated steel has greater added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
In other operational developments, CSN reported that it has reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. its Sao Paulo branch to improve overall production and service to customers in the area, where a majority of its sales are concentrated. CSN also signed an agreement with the city of Volta Redonda to invest $16 million in environmental improvements over two years. At the recent trade meeting of the steel industry in London, CSN reported that it is the lowest-cost steel producer in the world. Balance Sheet - Price Adjusted 1st Quarterly Earnings Report
12/31/95 R$1,000 US$ 1000
1st Qtr 95 12/31/94 1st Qtr 95 12/31/94
ASSETS 6,100,298 6,079,020 6,808,368 6,784,621 CURRENT ASSETS 1,187,282 1,124,886 1,325,092 1,255,453 Cash 4,436 1,422 4,951 1,587 Marketable securities and bonds 271,142 228,121 302,614 254,599 Accounts receivables 334,843 315,687 373,709 352,329 Allowance for doubtful accounts (13,502) (21,609) (15,069) (24,117) Bills discounted (3,641) (400) (4,064) (446) Inventories 454,865 477,872 507,662 533,339 Others 139,139 123,793 155,289 138,162 LONG-TERM RECEIVABLES 273,394 245,756 305,127 274,281 Accounts receivables - subsidiaries 132,562 148,195 147,949 165,396 Deposits, loans and shares 29,481 28,886 32,903 32,239 Marketable securities and bonds 28,562 28,004 31,877 31,254 Compulsory deposits 58,458 - 65,243 - Others 24,331 40,671 27,155 45,392 PERMANENT ASSETS 4,639,622 4,708,378 5,178,150 5,254,886 Investment 57,150 53,516 63,783 59,728 Subsidiaries 54,508 50,728 60,835 56,616 Others 2,642 2,788 2,949 3,112 Fixed Assets 4,582,472 4,654,862 5,114,366 5,195,158 LIABILITIES 6,100,298 6,079,020 6,808,368 6,784,621 CURRENT 604,383 617,037 674,535 688,657 Supplier and contractor and freights 37,849 41,866 42,242 46,725 Loan 157,462 180,203 175,739 201,119 Tax payable 88,206 70,278 98,444 78,435 Proposed dividends 87,275 91,066 97,405 101,636 Provision for labor related costs and others 117,427 120,994 131,057 135,038 Advance for exchange contracts 76,244 42,469 85,094 47,398 Others 39,920 70,161 44,554 78,305 LONG-TERM LIABILITIES 618,229 606,446 689,988 676,837 Loans 314,841 298,134 351,385 332,739 Provision for labor related costs 49,595 45,446 55,352 50,721 Provision for reline and maintenance 86,529 83,604 96,573 93,308 Taxes payable in installments 101,219 107,057 112,968 119,483 Obligation payable in installments 65,564 71,723 73,174 80,048 Others 481 482 537 538 STOCKHOLDERS' EQUITY 4,877,686 4,855,537 5,443,846 5,419,126 Capital stock 1,412,759 1,412,759 1,576,740 1,576,740 Capital reserve (13,856) (4,279) (15,464) (4,776) Reevaluation reserve 2,826,162 2,885,800 3,154,199 3,220,759 Profit reserve 561,257 561,257 626,403 626,403 Accumulated profits (losses) 91,364 0 101,969 - -0- Income Statement - Price Adjusted 1st Quarterly Report
03/31/95 R$ 1000
1st Qtr 95 4th Qtr 94 1st Qtr 94
Net revenue 517,493 515,786 393,762
Cost of products and
services sold 439,465 463,049 331,866
Gross profit 78,028 52,738 61,896
(Expenses) operating revenues (41,175) (15,468) (70,947)
Sales expenses (8,460) (26,037) (18,748)
General and administrative
expenses (17,885) (18,669) (25,248)
Net financial (expenses) and
revenues (7,060) 24,804 (1,418)
Financial revenues 32,401 52,396 63,544
Financial expenses (39,461) (27,592) (64,962)
Other net (expenses) revenues (7,770) 4,434 (25,533)
Stake in subsidiary companies 3,682 260 (1,176)
Operating profits 40,535 37,530 (10,227)
Non operational profits 1,979 4,439 4,238
Profit prior to income tax 42,514 41,970 (5,989)
Income tax (10,788) (19,528) 11,277
Deferred income tax - (1,268) (2,174)
Profit (losses) 31,726 21,174 3,114
Earnings per 1000 shares .41 0.28 .04
-0-
Income Statement - Price Adjusted 1st Quarterly Report
03/31/95 US$ 1000
1st Qtr 95 4th Qtr 94 1st Qtr 94
Net revenue 577,559 575,654 439,467
Cost of products and
services sold 490,474 516,795 370,386
Gross profit 87,085 58,859 69,080
(Expenses) operating revenues (45,954) (17,263) (79,182)
Sales expenses (9,442) (29,059) (20,924)
General and administrative
expenses (19,961) (20,835) (28,179)
Net financial (expenses) and
revenues (7,879) 27,683 (1,583)
Financial revenues 36,162 58,477 70,920
Financial expenses (44,041) (30,795) (72,502)
Other net (expenses) revenues (8,672) 4,949 (28,497)
Stake in subsidiary companies 4,109 291 (1,313)
Operating profits 45,240 41,886 (11,414)
Non operational profits 2,209 4,955 4,730
Profit prior to income tax 47,449 46,841 (6,684)
Income tax (12,040) (21,794) 12,586
Deferred income tax - (1,415) (2,246)
Profit (losses) 35,408 23,632 3,475
Earnings per 1,000 shares 0.488 0.33 0.045
CONTACT: Claudio T.H. Kuroba CSN 011-5521-545-1310 or Carmen Camacho Carmen Camacho is one of Philippine Kundiman Diva of the 60s along with Norma Ledesma, Norma Balagtas, Pilita Corrales among others. Born in 1939, she recorded her first record on early 60s. The Anne McBride Anne C. McBride (born Nova Scotia) was a frequent candidate in Canadian federal and provincial elections and by-elections in the 1970s, 1980s and 1990s. McBride was an ordained minister in the Assemblies of God, a Pentecostal Christian denomination. Co. 212-752-0504 |
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