The Backboard and Practice Court

[polkamatic]

MYS...Masisa SA...

Masisa S.A. Posts Q1 2007 Financial Results
Friday April 27, 8:52 pm ET


SANTIAGO, Chile, April 27 /PRNewsire-FirstCall/ -- MASISA S.A. (NYSE: MYS - News; hereinafter referred to as "Masisa" or "the Company"), a leading wood board for furniture manufacturing and marketing company in Latin America, today posted its consolidated financial statements for the first quarter of 2007.

Q1'07 HIGHLIGHTS
* Sales in the first quarter of 2007 were 1.9% up on the same period of
2006, amounting to US$216.5 million, driven by higher prices of wood
boards for furniture (MDF and PB), which offset the lower sales of
OSB (Oriented Strand Board) and of solid wood products.
* The gross margin on sales improved, increasing from 22.3% to 24.7%
compared with the same quarter in 2006, mainly driven by the Company's
ability to transfer its cost increases to prices.
* Sales and administrative expenses increased in the first quarter of
2007, accounting for 14.2% of sales, which was slightly lower on the
first quarter of 2006 when they accounted for 13.2% of sales. This was
mainly due to higher sales expenses for re-routing two shipments of sawn
lumber from Mexico to other markets in Central America.
* Operating income increased by 17.6% on the same quarter in 2006,
amounting to US$22.7 million, boosted by a higher sales margin (on
account of the successful commercial efforts), thus offsetting the
higher sales and administrative expenses.
* First quarter net income was US$3.2 million, which was a 177.3% increase
on the same quarter in 2006.
* The Company had a suitable operating performance, which was reflected by
an operating working capital to sales ratio of 34.6% in the first
quarter of 2007, thus exhibiting an improvement when compared with the
first quarter of 2006 when it was 35.5%.
* As part of its strategic plan, in the US market Masisa has decided to
focus on its commercial activities. This is why the MDF mouldings plant
in Charleston was closed down in February, 2007 (capacity of 36,000 m3 a
year). The Company deems this decision will generate annual cost savings
of at least US$3.0 million, excluding the 2007 restructuring costs. The
production line will be fully or partially relocated in Chile.
http://biz.yahoo.com/prnews/070427/arf002.html?.v=1

She just announced a little divy... muy pequeño y en pesos!
¡Ay, caramba!