6-K 1 netpr3q12 6k.htm FINANCIAL PERFORMANCE AND LIQUIDITY -
CONSOLIDATED 3Q12
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer Pursuant to Rule 13a-16 or
15d-16 of the Securities Exchange Act of 1934
For the month of October, 2012
Commission File Number 0-28860
NET SERVIçOS DE COMUNICAçAO S.A.
(Exact name of registrant as specified in its charter)
Net Communications Services Inc.
(Translation of Registrant's name into English)
Rua Verbo Divino, 1356
04719-002 - Sao Paulo-SP Federative Republic of Brazil
(Address of principal executive office)
Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F. Form
20-F x Form 40-F
Indicate by check mark whether the registrant by furnishing
the information contained in this Form is also thereby
furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes No x
If "Yes" is marked, indicate below the file number
assigned to the Registrant in connection with Rule
12g3-2(b):82-
FINANCIAL PERFORMANCE AND LIQUIDITY - CONSOLIDATED 3Q12
Sao Paulo, October 25, 2012 - Net Serviços de Comunicaçao S.A. (BM&FBOVESPA: NETC3 and NETC4; Nasdaq: NETC; and Latibex: XNET), the largest cable operator in Brazil and latin America, offering integrated services that include Pay TV ("NET"), Digital Video ("NET Digital"), High Definition Digital Video ("NET Digital HD"), bidirectional broadband internet access ("NET Virtua") and Voice, in association with Embratel ("NET Fone via Embratel"), announces today its results for the third quarter ended September 30, 2012 ("3012").
Net Serviços de Comunicaçao S.A. Consolidated Income
Statements 3Q12 3Q11 Il. % 9M12 9M11 Il. %
(R$ thousands)
Net revenues | 2,029,153 | 1,715,325 | 18.3 | 5,794,932 | 4,908,156 | 18.1 |
Operating costs Selling, general and | (998,453) | (832,330) | 20.0 | (2,856,344) | (2,390,117) | 19.5 |
administrative expenses (471,872) (396,761) 18.9 (1,350,505) (1,114,796) 21.1
EBITDA (a) 558,828 486,234 14.9 1,588,083 1,403,243 13.2
EBITDA Margin 27,5% 28,3% 27,4% 28,6%
Depreciation and amortization (326,946) (269,645) 21.3 (942,587) (778,528) 21.1
Net foreign exchange and
monetary variation (18,218) (168,608) (89.2) (104,932) (104,313) 0.6
Finance expenses (77,279) (57,309) 34.8 (256,226) (281,970) (9.1) Finance income 28,164 43,587 (35.4) 99,825 132,127 (24.4) Income before taxes 164,549 34,259 380.3 384,163 370,559 3.7
Taxes (56,531) (10,682) 429.2 (131,980) (115,543) 14.2
Net income 108,018 23,577 358.2 252,183 255,016 (1.1)
Net Revenue increase 18.3%, totaling R$2,029,153 thousand in the 3Q12 compared to R$1,715,325 thousand in the 3011,
mainly driven by the expansion of the subscriber base.
EBITDA (earnings before interest, income taxes including Social Contribution on net income, depreciation and amortization)
totaled R$558,828 thousand in the 3Q12 compared to R$486,234 thousand in the 3011, therefore an increase of 14.9%.
The Company recorded in the 3Q12 Net Income of R$108,018 thousand, an increase of 358.2% comparing to R$23,577
thousand recorded in the 3011, substantially influenced by the positive effect of exchange rate changes.
Net Serviços de Comunicaçao S.A. Consolidated Balance sheet
(R$ thousands)
3Q12 | 3Q11 | 3Q12 | 3Q11 | |||||||
Assets | Liabilities | |||||||||
Total current assets Total non-current | 1,232,070 | 1,523,624 | Total current liabilities | 2,212,387 | 1,460,332 | |||||
assets | 8,367,263 | 7,277,524 | Total non-current liabilities | 2,946,924 | 3,271,134 | |||||
Stockholders equity |
Total Assets 9,599,333 8,801,148
Equity 9,599,333 8,801,148
(a) EBITDA does not represent an accounting item or cash flow for the periods in question, therefore, must not be considered an isolated indicator of operating performance. Since EBITDA is not an accounting item, companies may conduct specific interpretations, which means that the definition of EBITDA may not be comparable with the definitions of EBITDA adopted by other companies. The EBITDA was calculated in accordance with the CVM Instruction 527/12.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized. Date: October 25, 2012
NET SERVIçOS DE COMUNICAçÀO S.A.
By: /S/ José Antonio Guaraldi Félix
José Antonio Guaraldi Félix
CEO
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements.
These statements are statements that are not historical
facts, and are based on management's current view and
estimates of future economic circumstances, industry
conditions, company performance and financial results. The
words "anticipates", "believes",
"estimates", "expects", "plans"
and similar expressions, as they relate to the company, are
intended to identify forward-looking statements. Statements
regarding the declaration or payment of dividends, the
implementation of principal operating and financing
strategies and capital expenditure plans, the direction of
future operations and the factors or trends affecting
financial condition, liquidity or results of operations are
examples of forward-looking statements. Such statements
reflect the current views of management and are subject to a
number of risks and uncertainties. There is no guarantee that
the expected events, trends or results will actually occur.
The statements are based on many assumptions and factors,
including general economic and market conditions, industry
conditions, and operating factors. Any changes in such
assumptions or factors could cause actual results to differ
materially from current expectations.
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