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Brazil steelmaker Gerdau profit falls 7.5 pct

Mon May 12, 2008 8:29am EDT

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SAO PAULO, May 12 (Reuters) - Brazilian steelmaker Gerdau (GGBR4.SA) (GGB.N) said on Monday first-quarter net profit fell to 1.09 billion reais ($648.8 million) from 1.178 billion reais in the year-earlier period.

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Earnings before interest, taxes, depreciation and amortization, a measure of cash flow known as EBITDA, climbed to 1.985 billion reais from 1.522 billion reais.

Gerdau, Brazil's leading producer of long-rolled steel, has operations throughout the Americas, Europe and Asia. ($1=1.68 reais) (Reporting by Todd Benson; editing by John Wallace)

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