CAXIAS DO SUL, Brazil — Fras-le S.A. has announced its results for the second quarter and first half of 2011.* Comparisons are with the first quarter of 2011 (1Q11), the second quarter of 2010 (2Q10) and the period from January through June 2010 (1H10).
 
Key 2Q11 Results:
 
·    Total gross revenue before consolidation: R$201.3 million, up 13 percent on 1Q11 and 9.9 percent on 2Q10;

·    Consolidated net revenue: R$145.8 million, up 9.1 percent on 1Q11 and 7.4 percent on 2Q10;

·    Net revenue from the domestic market: R$79.9 million, 10.6 percent higher than in both 1Q11 and 2Q10;

·    Net revenue from the foreign market: R$65.9 million, up 7.3 percent on 1Q11 and 3.8 percent on 2Q10;

·    Fras-le Brasil Exports (FOB): US$32.4 million, up 12.4 percent on 1Q11 and 7.9 percent on 2Q10;

·    Sales in foreign markets (exports and units abroad): US$41.3 million, up 9.8 percent on 1Q11 and 15.6 percent on 2Q10;

·    EBITDA: R$19.6 million, up 14 percent on 1Q11 and down 17.6 percent from 2Q10;

·    Consolidated gross profit: R$37.9 million, up 13.2 percent on 1Q11 and down 10.8 percent from 2Q10;

·    Consolidated net income: R$14.8 million, up 42.1 percent on 1Q11 and down 6.9 percent from 2Q10.
 
*Except where stated otherwise, the operating and financial information is presented on a consolidated basis and the amounts are expressed in Brazilian reais, in accordance with the International Financial Reporting Standards (IFRS) Issued by the International Accounting Standards Board (IASB) and the accounting practices adopted in Brazil.