Vivo units post mixed bag of results

Brazilian mobile operators linked to the Vivo brand posted a mixed bag of results for the first nine months of the year, compared to the same period in 2002. The Vivo group of companies are a joint venture of Spain's Telefonica (NYSE: TEF) and Portugal Telecom (NYSE: PT). Rio de Janeiro-based Tele Sudeste Celular (NYSE: TSC) posted nine-month net profits of 98.9mn reais, down 25% from the first nine months of 2002. Net operating revenue rose 3.3% to 1.39bn reais while operating profits fell 23% to 158mn reais. Earnings before interest, taxes, depreciation and amortization (Ebitda) totaled 496mn reais, representing a 1.9% decline. Rio Grande do Sul-based Celular CRT posted nine month net profits of 127mn reais, up 19% compared with the same period last year. Net revenue climbed 14% to 742mn reais while operating profits improved 17% to 191mn reais. CRT's earnings before interest, taxes, depreciation and amortization (Ebitda) stood at 320mn reais in the first nine months of the year, a 14% rise. The northeastern unit, Tele Leste Celular (NYSE: TLC) posted net losses totaling 36.1mn reais, compared to net profits of 900,000 reais in 2002. Earnings before interest, taxes, depreciation and amortization (Ebitda) totaled 97.2mn reais, a 9.6% drop. For results of the Brasilcel's other Brazilian unit, Telesp Celular Participacoes (NYSE: TCP), see today's top story.