Wed Oct 29, 2008 7:14am EDT - reuters

SAO PAULO, Oct 29 (Reuters) - Perdigao (PRGA3.SA: Quote, Profile, Research, Stock Buzz)(PDA.N: Quote, Profile, Research, Stock Buzz), one of Brazil's top meat processors, posted net losses of 25.4 million reais ($11.6 million) in the third quarter, compared with a net profit of 90.2 million reais in the same three months of 2007.

"The impact of the exchange rate on financial expenditures, with the depreciation of the real against the dollar - at a cost of 200.9 million reais without an effect on cash flow - turned the quarterly results negative," the company said late on Tuesday in a statement.

Earnings before interest, taxes, depreciation and amortization, a key measure of cash flow known as EBITDA, rose 20.7 percent from July through September to 274.9 million reais from the same period a year ago, the company said.

Perdigao is the most recent of several Brazilian companies in the export sector to post large losses due to hedging and speculative positions held on the currency markets. The Brazilian real BRBY has weakened from around 1.57 to the dollar in May-June to 2.183 on Tuesday. (Reporting by Roberto Samora; writing by Reese Ewing; Editing by Derek Caney)