Gradiente moves to black with US$2.26mn

Gradiente Eletrônica, the Brazilian electronics manufacturer, closed out the first half with net profits of 6.8mn reais (US$2.26mn), the company said in a statement Friday (August 13). The result compares with a 90.5mn-real loss for the first half of 2003. Net revenue jumped 120% in the first half to 364mn reais, while gross profits jumped 288% to 21mn reais. Gradiente reported operating profits of 8.17mn reais for the first six months of the year. By contrast, the company had an operating loss of 92.08mn reais in the same period last year. At the end of June, Gradiente's net equity amounted to 99.3mn reais. by Graziella Valenti