US$75000000 Lupatech Finance Limited - Banco Best

“Selected Financial and Other Information” and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” included elsewhere in this offering circular.
Solely for the convenience of the reader, real amounts as of and for the year ended December 31, 2007 and
as of and for the three-month period ended March 31, 2008 have been translated into U.S. dollars at the selling rate
as reported by the Central Bank on March 31, 2008 of R$1.749 to US$1.00. The U.S. dollar equivalent information
should not be construed to imply that the amounts in reais represent, or could have been or could be converted into,
U.S. dollars at such rates or at any other rate. See “Exchange Rates.”
Statement of Income Information
32
Three-month period ended March 31,
2008 2008 2007
(in millions of
US$) (in millions of reais)
Gross sales and services.................................................................................................... 88.1 154.1 74.5
Taxes on sales.................................................................................................................... (8.1) (14.1) (7.2)
Net revenue........................................................................................................................ 80.0 140.0 67.3
Cost of sales and services.................................................................................................. (51.8) (90.6) (40.5)
Gross profit........................................................................................................................ 28.2 49.4 26.8
Operating income (expenses)............................................................................................ (28.5) (49.8) (23.4)
Selling..................................................................................................................... (6.5) (11.3) (5.9)
General and administrative..................................................................................... (4.7) (8.3) (4.7)
Management compensation.................................................................................... (0.3) (0.6) (0.4)
Financial expenses.................................................................................................. (18.1) (31.7) (12.2)
Financial income .................................................................................................... 7.8 13.6 6.0
Goodwill amortization............................................................................................ (6.6) (11.5) (6.2)
Other operating income (expenses)........................................................................ (0.1) (0.1) -
Operating profit (loss) ....................................................................................................... (0.2) (0.4) 3.4
Non-operating income (expenses), net ............................................................................. - 0.1 -
Profit (loss) before social contribution, income tax and statutory profit sharing............. (0.2) (0.3) 3.4
Current income tax and social contribution...................................................................... (3.3) (5.7) (3.5)
Deferred income tax and social contribution.................................................................... 1.0 1.7 0.3
Employee profit sharing.................................................................................................... (0.1) (0.2) (0.2)
Net income (loss) .............................................................................................................. (2.6) (4.5) -