SAO PAULO, May 12 /PRNewswire-FirstCall/ -- Tecnisa S.A. (BOVESPA: TCSA3),
one of the largest residential developers in Brazil, operating with an
integrated business model that includes development, construction and sales
operations, announces today its results for the first quarter of 2008 (1Q08).
The information contained herein is presented in Brazilian Real, pursuant to
Brazilian Corporate Law. The comments refer to results in relation to the
first quarter of 2007 (1Q07) and the fourth quarter of 2007 (4Q07). To access
the full release please access the website www.tecninsa.com.br/ir
HIGHLIGHTS:
Launches: During the first quarter of 2008, we launched 3 projects with
combined potential sales value (PSV) of R$244 million, with Tecnisa's interest
R$227 million (representing 15.1% of the launch guidance for 2008), and
represented growth of 13 times the PSV launched in 1Q07.
Partnership: In March, we signed an agreement to sell 20% of the Nova
Pompeia project to Agra. In this transaction, Agra paid R$52 million in cash
(100% of the appreciation over the R$133 million Tecnisa originally paid for
the whole property in April, 2007) and agreed to offer future interests in
projects with the same PSV.
Google Award: In March 2008, Tecnisa was selected by Google as the best
real estate company in the world in the use of sponsored links. This
recognition demonstrates Tecnisa's competence in the use of Internet as an
important business tool.
Conference Calls
Portuguese
Tuesday, March 13
10:00 a.m. - Brasilia time
9:00 a.m. - U.S. ET
Tel: +55 (11) 4688-6301
Code: Tecnisa
Webcast: www.tecnisa.com.br/ri
English
Tuesday, March 13
12:00 p.m. - Brasilia time
11:00 a.m. - U.S. ET
Tel: +1(973) 935-8893
Code: 46175207
Webcast: www.tecnisa.com.br/ir
SOURCE Tecnisa S.A.
Geraldo Colonhezi, for Tecnisa S.A., +55 113708-1163
