SOURCE: CR2 Empreendimentos Imobiliarios SA

CR2 Empreendimentos Imobiliarios SA

May 17, 2010 06:00 ET

CR2 Announces Its 1Q10 Results

RIO DE JANEIRO, BRAZIL--(Marketwire - May 17, 2010) -  CR2 Empreendimentos Imobiliários S.A. (BOVESPA: CRDE3) (PINKSHEETS: CREIY) announces its results for 1Q10.

1Q10 Operating and Financial Highlights:

» Net revenue was R$101.6mm in 1Q10, 97% higher than 51.7mm in 1Q09.

» Gross profit of R$25.2mm in 1Q10, 159% higher than R$9.7mm in 1Q09.

» EBITDA of R$18.1mm in 1Q10, 698% higher than R$2.3mm in 1Q09.

» Net profit of R$7.2mm (EPS of R$0.16) in 1Q10, 457% higher than R$1.3mm (EPS of R$0.03) in 1Q09.

» Contracted sales of R$76.7mm (%CR2 R$58.4mm) in 1Q10, 220% higher than R$24.0mm (%CR2 R$19.0mm) in 1Q09.

1Q10 Results Conference

May 17, 2010 at 10:00 AM (Eastern time)

May 17, 2010 at 12:00 PM (Eastern time)

Contact Information

    Rogério Furtado
    Chief Financial Officer and Investor Relations Officer
    Tel: +55 (21) 3095-4600