Usiminas reports Q3 results
Brazilian flats producer Usiminas released its results for the third quarter of 2003 and announced a net profit of Real 119 million (approx. $41 million) against a net loss of Real 683.8 million recorded in the same period last year. In addition, Usiminas converted its Real 781.9 million operating loss which was reported in the same period last year to Real 168.3 million operating profit in the third quarter of 2003. Net revenue rose to Real 1.1 billion in the aforementioned period when compared to Real 939.4 million reported in the corresponding period of 2002.