CSN reports net profit for Q3

CSN reports net profit for Q3

Brazilian steel producer Companhia Siderurgica Nacional (CSN) reported a consolidated net profit of Real 203 million (approx. $68.9 million) for the third quarter of 2003 against a net loss of Real 167 million in the third quarter of 2002. Company's consolidated net revenue amounted to Real 1.78 million in the third quarter, up by 35% while EBITDA grew by 42% to Real 747 million. Financial results which cover financial income and expense as well as net foreign exchange gains and losses, were a net expense of Real 242 million. CSN produced 1.36 million tons of crude steel in the third quarter with a 7% increase when compared July-September period last year, while sales rose by 6% to 1.3 million tons.