Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Positivo Climbs to One-Month High on Earnings: Sao Paulo Mover

Don't Miss Out —
Follow us on:

May 10 (Bloomberg) -- Positivo Informatica SA, Brazil’s biggest computer maker, rose to a one-month high after it reported a profit in the first quarter, compared with a loss a year earlier.

Shares jumped 2.7 percent to 6.96 reais at the close in Sao Paulo, the highest since April 9. The benchmark Bovespa index dropped 0.1 percent.

The company reported net income of 9.8 million reais ($5 million) in the first quarter after posting a loss of 33.7 million reais in the first three months of 2011, according to a regulatory filing yesterday after markets closed. Operating expenses fell 12 percent to 107.2 million reais while net sales increased 8.6 percent to 457.9 million reais.

Positivo “appears to be returning to more normalized profitability levels, and continues to benefit from the efforts to improve its operating efficiency,” Raymond James & Associates Inc. analysts Luca Cipiccia and Daniela Bretthauer in Sao Paulo wrote in a note to clients.

Raymond James forecast the computer maker would report net income of 1 million reais.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.