Paranapanema earnings up on stronger Brazilian sales

May 09, 2013 | 09:51 AM | Carolina Guerra

Tags  Paranapanema, copper, Brazil, Edson Monteiro, Carolina Guerra

SÃO PAULO — Brazilian copper producer Paranapanema SA’s earnings more than doubled year on year in the first quarter of 2013, according to the company’s quarterly report.

The company posted net income of 59 million reais ($29.4 million) in the three months ended March 31, an improvement over a net loss of 3.5 million reais in first-quarter 2012. The company’s net revenue totaled 1.27 billion reais ($634.4 million), up 38.3 percent year over year.

"The positive results of the fourth quarter of 2012 got stronger, despite the (lower) copper prices," interim chief executive officer Edson Monteiro told AMM sister publication Metal Bulletin.....

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