Brasil Foods reports a positive third quarter

Brasil Foods, the company formed from the merger of Perdigao and Sadia, posted a third-quarter net income of 211 million reais (US$121 million), as compared to a loss of 52 million reais, in the third quarter of 2008.

Net revenue in the quarter totaled 5.3 billion reais compared with 5.6 billion in the same period last year, according to a report from FlexNews.

The export volumes fell 13% in the third quarter from a year earlier, but international prices plunged 17%.

There was an 11% gain in the Brazilian currency, the real, against the dollar, during the quarter. Brasil Foods’ Chief Financial Officer, Leopoldo Saboya, said, “Net income for the quarter wasn’t as good as we imagined because of the real’s gain. International prices took the stairs down, but the dollar took the elevator.”