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MRV’s 1Q08 Net Income Is 1,416% Higher Than in 1Q07
BELO HORIZONTE, Brazil, May 13 /PRNewswire-FirstCall/ — MRV Engenharia e Participacoes S.A. (Bovespa: MRVE3) recorded a 199% increase in net operating revenue, which reached R$184.0 million in 1Q08, compared to R$61.5 million in the first quarter of 2007 (1Q07).EBITDA grew by 492%, from R$7.5 million in 1Q07 to R$44.5 million in the first quarter of this year.Net income for the period was R$50.8 million, a 1,416% increase against the R$3.3 million net income recorded in the same period last year.HighlightsThe Company launched 6,728 units this quarter, which corresponds to PSV of R$691.5 million, representing a significant growth of 223% when compared to 1Q07.MRV’s contracted sales totaled 3,210 units, amounting to R$340.1 million, a 161% increase against Contracted Sales in the same period the previous year (R$130.2 million).Given the Company’s entrepreneurial spirit and forecast of an excellent opportunity in logistics, MRV is incorporating subsidiary MRV Logistica S.A. (”MRV LOG”), acting in the development, contract Warehousing, rental of Distribution Centers, Industrial Condominiums, Hubs and Logistics Parks.Also in this quarter, MRV Engenharia’s shares have been included by Bovespa, since early May, in the theoretical portfolio Index IBrX - BRASIL and in its segment indicator index IVBX-2.The Company will hold its 1Q08 results conference call on Tuesday, May 13 in Portuguese and English.In order to view MRV’s disclosure documents and find out how to access the calls, please visit our Investor Relations website: . MRV Engenharia e Participacoes S.A.