Aracruz Celulose S.A. (ARA)

Aracruz Celulose S.A. engages in the production and sale of bleached hardwood kraft market pulp primarily in Brazil. It produces eucalyptus pulp, a hardwood pulp used by paper manufacturers to produce various products, including premium tissue, printing and writing papers, liquid packaging board, and specialty papers. Aracruz sells its products in North America, Europe, Asia, and Brazil. The company was founded in 1967 and is headquartered in Aracruz, Brazil.

For the nine months ended 30 September 2006, Aracruz Celulose S.A.'s total revenues rose 29% to R$1.22B. Net income rose 65% to R$328.3M. Total revenues reflect higher sales volume from domestic and international revenues. Net income reflects an increase in gross profit margins. Earnings also benefited from an increase in financial, affiliated investment and minority interest revenues; along with a decrease in provision for income tax expense.