1. 4Q10 Results
Ideiasnet Reports 4Q10 Results
Rio de Janeiro, March 30, 2011 – Ideiasnet S.A. [Bovespa: IDNT3], a technology venture capital
company that invests in Brazil, announces today its results for the fourth quarter (4Q10) and full year of
2010.
4Q10 highlights
 Combined Proportional Net Revenue totaled R$298.3
million, 7.0% up on 3Q10 and versus 28.0% in 4Q09.
 Proportional EBITDA came to R$19.1 million, a
272.9% YoY improvement, accompanied by a margin
of 6.4%, versus 1.4% in 3Q10.
 The Combined Proportional Net Result was positive by
R$7.8 million, versus a negative R$4.4 million in 3Q10 1
and a negative R$6.1 million in 4Q09.
Portfolio Management
CEO and Investor Relations Officer
 Padtec, a portfolio company in the Infrastructure &
Telecom segment, moved up to the highest Sami Haddad
development stage in our portfolio, thanks to
annual revenue of close to R$200 million. Investor Relations
 As a result of its consistent operating performance
and proven business model, TecTotal moved up Ricardo Rosanova Garcia
Renata Vencato
to the Balanced development stage and we will
now be reporting its results.
Phone: (55-21) 3206-9200
 Three companies in the Media, Communications
ri@ideiasnet.com.br
& Content segment were divested in the final
quarter. In 2010 as a whole, investments in Teleconference
investees totaled R$32.5 million. English
March 31, 2011
12:00 p.m. (Brazil)
11:00 a.m. (EDT)
Phone: +1 (973) 935 8527
Replay: +1 (706) 645-9291
Code:42376917
Comentário da Administração

2. 4Q10 Results
Ideiasnet posted its best results ever in 2010. For the first time, the Company's combined proportional
net revenue exceeded the R$1.0 billion mark, while EBITDA reached the record level of R$30.3 million.
A large number of investees posted record revenue and EBITDA figures, including Officer, Padtec and
Bolsa de Mulher, pointing to an excellent operating performance in all segments.
The Company sold two of its investees, Media Factory, NetMovies and Brain, increasing the dynamism
of the portfolio and taking advantage of opportunities to make a profit on the investment. In 2011, we
expect to see the consolidation of the technology segment, accompanied by the increased flow of
business, favoring the continuity of this process and the creation of shareholder value through the total
or partial sale of those investees in which we retain a high interest to strategic partners, in order to
monetize the value of our holdings.
The Brazilian technology market has been experiencing an exceptionally positive period, attracting
considerable attention from the global investor community. High potential demand growth for leading-
edge technology products and services, both from corporate and individual consumers, creates a
favorable environment for new businesses and the expansion of established companies that are
already well- positioned in their respective markets. 2
The current status of Brazil’s mobile phone market, which reached 203 million handsets in 2010, and
the expected exponential growth of tablet sales in 2011 are a clear indication of the increased
penetration of mobile solutions for end users. This should generate a series of new opportunities in the
technology market, such as the development of mobile e-commerce and means of payment and higher
demand for corporate mobile applications and content, among others, benefiting several of our
investees, especially MoIP, Spring Wireless, iMusica, Hands and Bolsa de Mulher.
The social media boom, including group purchases, has been attracting increasing interest from
consumers and advertisers alike, giving rise to a new modality of e-commerce in Brazil. Some of our
investees are already fully prepared to capture the immense value that this segment may offer,
especially Bolsa de Mulher, whose 14 million unique visitors per month should be more extensively
explored, creating new sources of revenue through a consistent and diversified business model.
The number of fixed and mobile broadband connections in Brazil grew by 71% in 2010 to 34.2 million,
and this is just the beginning. The implementation of the National Broadband Plan (PNBL) will
substantially increase this figure, in turn pushing up the number of online business opportunities.
As an important supplier of fiber-optic communication services and equipment in Brazil, as well as a
global reference in its segment, Padtec should be one of the main beneficiaries of this process. Having
won the first auction to provide DWDM-based solutions for Telebrás’ national telecom network, it is
already preparing the development of a new generation of products to meet future demand.
Automatos acquired Relativa and Disec, adding new products that are highly synergic with existing
ones to its portfolio, enabling it to offer its clients an even more comprehensive range of software
services. And there is still enormous potential for more synergy gains along 2011.

3. 4Q10 Results
Certain companies in the Early and Balanced stage should gradually mature, generating positive cash
flow and reducing their capital needs. In 2011, we expect Ideiasnet’s total investments in its current
portfolio companies from R$ 4.0 million to R$ 10.0 million, allocated to organic growth initiatives.
In December 2010, two new executive officers were appointed, both of whom with extensive experience
in the technology market and enjoying exceptionally close relations with the venture capital community.
The new Executive Board comprises Sami Haddad, CEO and Investor Relations Officer, Alexandra de
Haan, CFO, and Everson Lopes, Director of Portfolio Development.
Management
3

4. 4Q10 Results
Portfolio Management
Ideiasnet is a venture capital company with investments focused on the Technology, Media and
Telecommunication sector, whose purpose is to generate high returns on the capital invested through
active portfolio management. The Company invests in 14 companies in the E-Commerce, Infrastructure
& Telecom and Media, Communications & Content segments, divided into three stages of development.
4
In the fourth quarter, Padtec moved up to the Later stage, due to its annual revenue of close to R$ 200
million, advanced level of development and domination of its production process, while Tectotal moved
from the Early to the Balanced stage, thanks to its consistent operating performance and proven and
sustainable business model.
 Divestments
In line with its strategy of increasing the dynamism of its portfolio, in December 2010 Ideiasnet
announced the sale of NetMovies and Media Factory.
The sale of 54.77% of NetMovies (the Brazilian internet DVD rental leader) to Tiger Global
Management generated revenue of R$7.5 million, plus R$3.58 million in debt from loans taken out by
NetMovies. Ideiasnet’ internal rate of return (IRR) on this investment was 17.3% p.a.
Media Factory was sold for R$8.9 million, of which Ideiasnet received R$6.4 million for its interest. The
value of the transaction corresponds to the entire return on the investment in Media Factory since 2002.

5. 4Q10 Results
The transaction was concluded in January 2011 and is therefore not reflected in the 2010 financial
statements.
In November 2010, Ideiasnet’s sold its entire interest in Brain, acquired in April of the same year, due to
the portfolio company’ proposal and the fact that Ideiasnet’s investment strategy, focused on technology
companies, was incompatible with Brain’s business model.
 Change in Potfolio Company Management

In February, after five years heading the Bolsa de Mulher group, Andiara Petterle left the company.
Bolsa de Mulher has posted strong growth in recent years, with the number of unique visitors to the
women’s website rising from 100,000 to 14 million per month, the group closed 2010 with more than 10
million registered subscribers.
 Investments
Ideiasnet invested R$5.0 million in its portfolio companies in 4Q10, and R$32.8 million in 2010 as a 5
whole, slightly below the approved budget, chiefly due to the year’s divestments. A breakdown of the
Company’s investments in 4Q10 and 2010 is shown below:
Capital Invested (R$ millions) 4Q10 2010
E-commerce 0.0 2.4
MoIP 0.0 1,5
Site Blindado 0.0 0.9
Infraestrutura & Telecom 0.9 12.0
Automatos 0.0 5.4
TecTotal 0,0 0.9
TrinnPhone 0.9 4.9
Brain 0.0 0.9
Media, Comunication e Conteúdo 4,1 18.3
Bolsa de Mulher 2.5 7.0
iMusica 0,0 2.4
NetMovies 0.2 3.3
Zura! 0.6 3.2
Hands 0.5 1.5
Media Factory 0.0 0.9
Total Capital Invested 5.0 32.8

6. 4Q10 Results
 Dividends and interest on equity received
In 2010, Ideiasnet received net dividends and interest on equity of R$1.7 million from its investees,
R$1.4 million of which from Officer and R$ 325 thousand from Padtec related to fiscal year 2009.
Dividends and interest on equity on 2010 results to be paid in 2011 total R$3.8 million, R$2.0 million of
which from Officer and R$1.8 million from Padtec.
 Costs
Expenses totaled R$ 6.0 million in 2010, 14.3% decrease YoY. Administrative expenses came to R$ 2.8
million, 21.7% less than 2009. Payroll expenses amounted to R$ 3.1 million, 6.3% down YoY.
 Holdings in Portfolio Companies
The table below gives a breakdown of Ideiasnet’s direct and indirect holdings in its investees at the end
of 2010.
Companies 3Q10 4Q10
Automatos 63.7% 63.7% 6
Bolsa de Mulher 97.1% 97.1%
Brain 40.0% 0.0%
Hands 80.0% 80.0%
iMusica 97.7% 97.7%
MediaFactory 75.0% 75.0%
MoIP 41.9% 41.9%
Netmovies 54.8% 0.0%
Officer 100.0% 100.0%
Padtec 34.2% 34.2%
Pini 31.1% 31.1%
Site Blindado 29.0% 29.0%
Softcorp 100.0% 100.0%
Spring Wireless 8.5% 8.4%
Tectotal 33.5% 35.8%
Trinnphone 78.7% 78.5%
Zura! 77.8% 77.8%

7. 4Q10 Results
Desempenho Econômico Financeiro do Combinado Proporcional
DISCLAIMER
1
The following comments refer to Ideiasnet’s combined proportional results , which consider its
proportional ownership of portfolio companies only. These figures do not include Ideiasnet’s operating
costs as a portfolio manager (commented on above) or the financial and operating costs of 5225
Participações and Ideiasnet FIP I.
Combined Net Proportional Revenue
In 4Q10, combined net proportional revenue totaled R$292.8 million, 28.0% up on 4Q09 and 7.0%
more than in 3Q10. Annual combined net proportional revenue came to R$1.06 billion, 26.1% up on
2009 and a new Company record, with important contributions from investees in all three segments.
E-commerce
Net proportional revenue from the e-commerce segment was R$252.6 million in 4Q10, a 23.8%
improvement over 4Q09 and representing 86.4% of total proportional net revenue, and R$917.3 million
in the full year, 21.8% up on 2009.
Infrastructure & Telecom
7
In the Infrastructure & Telecom segment, net proportional revenue totaled R$30.9 million in 4Q10, up by
82.6% YoY and accounting for 8.3% of total proportional net revenue, and R$88.6 million in 2010 as a
whole, 69.2% more than in 2009.
Media, Communications & Content
Net proportional revenue from the Media, Communications & Content segment amounted to R$14.9
million in 4Q10, 22.5% more than the same period in the previous year and accounting for 5.2% of total
proportional net revenue. Annual revenue came to R$54.9 million, 53.9% more than in 2009.
Net Revenue (R$ million)
1
The combined proportional numbers are unaudited.

8. 4Q10 Results
Net Revenue 4T09 4T10 % Chg. 3T10 4T10 % Chg.
E-commerce 204,028 252,537 23.8% 241,683 252,537 4.5%
Infrastructure & Telecom 16,911 30,885 82.6% 23,671 30,885 30.5%
Media, Communications & Content 12,182 14,922 22.5% 13,542 14,922 10.2%
TOTAL 233,121 298,344 28.0% 278,896 298,344 7.0%
Combined Proportional EBITDA
In 4Q10, combined proportional EBITDA totaled R$19.1 million, 272.9% up YoY and 383.0% higher
than in 3Q10. The annual figure stood at R$30.3 million, substantially more than the R$6.5 million
posted in 2009.
The fourth-quarter EBITDA margin stood at 6.2%, versus 2.2% in 4Q09 and 1.4% in 3Q10. The
improvement was largely due to Officer and Padtec’s higher contributions, which are dealt with in more
detail later on in this release.
8
E-commerce
Proportional EBITDA from the e-commerce segment came to R$13.2 million in 4Q10, an increase of
171.8% over the same quarter last year, and R$28.2 million in 2010, 94.3% up on 2009.
Infrastructure & Telecom
Proportional EBITDA from the Infrastructure & Telecom segment reached R$7.3 million in 4Q10,
508.0% higher than in 4Q09. In the full-year comparison, the segment’s EBITDA improved from a
negative R$97 thousand in 2009, to a positive R$10.5 million in 2010.
Media, Communications & Content
Combined proportional EBITDA from the Media, Communications & Content segment was a negative
R$1.3 million in 4Q10, compared with a negative R$902 thousand in 4Q09, and a negative R$8.3
million in 2010, versus a negative R$7.9 million in 2009.
EBITDA (R$ million)

9. 4Q10 Results
EBITDA 4Q09 4Q10 % Chg. 3Q10 4Q10 % Chg.
E-commerce 4,843 13,164 171.8% 5,953 13,164 121.1%
Infrastructure & Telecom 1,195 7,262 508.0% 1,294 7,262 461.1%
Media, Communications & Content (902) (1,277) 41.5% (3,283) (1,277) -61,1%
TOTAL 5,135 19,149 272.9% 3,964 19,149 383.0%
Combined Proportional Financial Result
In 4Q10, the combined proportional net financial result was negative by R$8.7 million, 84.5% higher
than in 4Q09. The upturn in financial expenses was caused by Officer’s increased need for working
capital, as well as its loan renewals, leading to higher expenses with IOF (financial operations tax).
Combined Net Proportional Result
In 4Q10, the combined proportional result was net income of R$7.8 million, versus a net loss of R$6.1
million in 4Q09, positively impacted by:
I. a strong upturn in net income from Officer and Padtec;
II. the reversal of Bolsa de Mulher’s negative result and reduced losses by various investees in the 9
Media, Communication & Content segment; and
III. a gain of R$2.3 million from the sale of NetMovies.
The annual result was a net loss of R$12.4 million, jeopardized by the recognition of losses from the
sale of interests in investees (R$10.0 million), as mentioned in previous releases. Excluding this effect,
the Company would have posted a net loss of R$2.4 million, versus a loss of R$19.0 million in 2009.
E-commerce
Proportional net income from the e-commerce segment totaled R$6.2 million in 4Q10, 464.1% higher
than in 4Q09, and R$7.5 million in 2010 as a whole, 4.3% up on the previous year, when the result was
favored by the divestment of Braspag.
Infrastructure & Telecom
The segment posted proportional net income of R$1.7 million, reversing the loss of R$2.6 million in
4Q09, thanks to the substantial improvement in investees’ operations.
Media, Communications & Content
The Media, Communications and Content segment also recorded a significant improvement in its
results, due to the increase in revenue and the reduction in operating expenses, in addition to the R$2.3
million from the sale of NetMovies. In the fourth quarter, proportional net loss came to R$93 thousand,
versus a R$4.6 million loss in 4Q09, while in 2010 it was negative by R$15.7 million, R$4.3 million of
which in losses desinvestments.

10. 4Q10 Results
Net Result (R$ million)
Net Result 4Q09 4Q10 % Chg. 3Q10 4Q10 % Chg.
E-commerce 1,103 6,222 -72.2% 482 6,222 -5.8%
Infrastructure & Telecom (2,623) 1,677 N/A (1,145) 1,677 N/A
Media, Communications & Content (4,587) (93) 98.0% (3,695) (93) 97.5%
TOTAL (6,107) 7,806 N/A (4,358) 7,806 N/A
10
Consolidated Financial Performance
DISCLAIMER
Comments on the audited consolidated financial statements, presented in accordance with international
financial reporting standards (IFRS) 2, are presented below.
Consolidated Net Revenue
Ideiasnet recorded consolidated net revenue of R$1.1 billion in 2010, versus R$ 840.5 million in 2009.
Indebtedness
Consolidated net debt closed 4Q10 at R$98.0 million, 16.8% down on 3Q10. The average cost of debt
in 4Q10 was 2.94% per month.
(R$ thousand) 4Q09 4Q10 % Chg. 3Q10 4Q10 % Chg.
Cash and cash equivalents 14,411 41,812 190.1% 21,439 41,812 95.0%
Short-term debt (77,342) (87,717) 13.4% (68,355) (87,717) 28.3%
Long-term debt (34,468) (51,823) 50.4% (52,178) (51,823) -0.7%
Net debt (100,306) (98,020) -2.3% (99,094) (98,020) -1.1%
2
For more details on the consolidation of subsidiaries in accordance with IFRS, see the explanatory notes.

11. 4Q10 Results
Consolidated Net Result
The Company’s posted a consolidated net loss of R$31.5 million in 2010, versus a net loss of R$27.4
million in 2009.
IDNT3 Performance
Ideiasnet’s shares closed 2010 at R$3.82, 9.14% up on the end of 3Q10. In the last 12 months, the
share price fell by 29.65%.
Share Price on Share Price on
Chg, 4Q10/3Q10
09/30/2010 12/31/2010
Ideiasnet R$ 3.50 R$ 3.82 9.14% 11
Ibovespa 69,429 69,304 -0.18%
Small Cap 1,341 1,439 7.31%
Share Price on Share Price on
Chg, 4Q10/4Q09
12/31/2009 12/31/2010
Ideiasnet R$ 5.43 R$ 3.82 -29.65%
Ibovespa 68,588 69,304 1.04%
Small Cap 1,172 1,439 22.78%
Average Daily Average Daily
Traded Volume in Traded Volume in Chg, 4Q10/4Q09
4Q09 (R$ ‘000) 4Q10 (R$ ‘000)
Ideiasnet R$ 3,269 R$ 1,075 -67.12%
Ibovespa R$ 6,831,394 R$ 6,775,708 -0.82%
Small Cap R$ 915,736 R$ 743,885 -18.77%
Source:
BM&FBovespa
Investees
DISCLAIMER

12. 4Q10 Results
We present below comments on the 4Q10 results of investees in the Later and Balanced stages of
development in which Ideiasnet retains a relevant stake in accordance with the combined proportional
3
criterion .
12
3
The combined proportional numbers are unaudited.

13. 4Q10 Results
.
 Automatos
Automatos is a supplier of cloud computing solutions, specializing in IT and security management. Its
main product lines are:
 AIM - Automatos Infrastructure Management – software for the management of technology
assets that permits the total control of installed technology, including inventories, performance
management, capacity planning, software distribution and control of licenses. Accounted for
57% of revenue in 2010.
 ASM - Automatos Service Management – service management software, focusing on best
service-desk and shared service center practices, database configuration management and
management dashboards. Accounted for 9% of revenue in 2010.
 ADS - Automatos Digital Security – managed security service solutions, through which
Automatos, by means of its two security operations centers, monitors all assets that control
company perimeters, from antivirus to invasion detection solutions, prevention against loss of
information and conformity. Accounted for 34% of revenue in 2010.
13
In 4Q10, net revenue came to R$5.0 million, 314.5% up on 4Q09 and 54.3% more than the previous
three months, confirming the sector’s typical end-of-year sales upturn, with sales that had been
postponed in third quarter 3Q10 taking place in the fourth as expected. In 2010 as a whole, Automatos
recorded net revenue of R$14.8 million, 63.9% up on 2009, benefiting from the high percentage of
contract renewals and the synergy gains from the acquisition of Relativa and Disec.
Contracted revenue for 2011 is already pointing to a figure of around R$31 million, given the normal
ratio of contract renewals. The investee and its subsidiaries’ high penetration of major companies,
especially in Brazil, creates enormous cross-selling potential, even if the current number of clients is
maintained.
Operating expenses increased by 299.9% over 4Q09, accompanying the increase in the company’s
activities. In the quarter-over-quarter comparison, these expenses fell by 23.5% due to operational
optimization.
Cash flow, measured by EBITDA, totaled a negative R$958 thousand, versus R$1.6 million in 4Q09,
with a negative EBITDA margin of 19.2%. Annual EBITDA was negative by R$112 thousand, reflecting
the negative results in previous quarters.
Automatos’ business model is based on software as a service (SaaS) and cloud computing, activities
which are highly scalable and will generate major scale gains as the company expands its business.
The net financial result was an expense of R$4.7 million, chiefly due to:
I. the booking of R$275 thousand as monetary restatement from the acquisition of Relativa;

14. 4Q10 Results
II. the R$400 thousand adjustment to provisions for accrued interest on bank loans in 2010; and
III. the increase in working capital requirements, due to the higher volume of operations.
Automatos declared a 4Q10 net loss of R$4.7 million, versus a loss of R$8.7 million in 4Q09. In 2010, it
posted a net loss of R$6.7 million, versus a loss of R$10.2 million in 2009.
The company has defined a new strategic approach for 2011 that will put it in a more advantageous
position vis-à-vis the boom in the corporate adoption of cloud computing and outsourced IT applications
and infrastructure. The main initiatives adopted include the development of new generation of products,
strengthening the distribution policy through channels, building closer ties with integrators and
establishing partnerships and joint ventures to operate in new markets.
Some of Automatos’ operational performance indicators are presented below:
No. of managed desktops and servers Customer Satisfaction Index
14
Automatos (R$ thousand)
4Q09 4Q10 % Chg, 3Q10 % Chg,
Net Revenue 1,204 4,991 314.5% 3,235 54.3%
Gross Profit (682) 2,905 -526.2% 1,523 90.8%
Gross Margin -56.6% 58.2% N/A 47.1% N/A
Operating Expenses (966) (3,863) 299.9% (3,128) 23.5%
EBITDA (1,648) (958) -41.9% (1,605) 67.5%
EBITDA Margin -136.8% -19.2% N/A -49.6% N/A
Depreciation (285) (374) 31.4% (329) 13.6%
Net Financial Result (1,889) (2,683) 42.0% (876) 206.3%
Non-Operating Result (4,849) - N/A 45 N/A
Income Taxes - 28 N/A 126 350.0%
Profit Sharing - (754) N/A - N/A
Net Result (8,671) (4,741) -45.3% (2,640) -44.3%
 Bolsa de Mulher
Bolsa de Mulher is the largest women’s digital media group in Latin America and the market leader in
Brazil. In addition to its multi-platform operation (internet, mobile phone and TV), the group owns 16
companies and brands targeting a female audience, providing media and content, social network, e-
commerce, e-learning and market intelligence solutions.

15. 4Q10 Results
Net revenue totaled R$5.0 million in 4Q10, 14.1% more than in 3Q10, and R$17.3 million In the full
year, 44.4% up on 2009.
Currently, Bolsa de Mulher is preparing to expand its activities focused on the women’s market, where it
is recognized as the leader, in order to benefit more from the potential of monetizing its online audience.
To this end, the group has been putting its best efforts into developing new transactional business
models, as well as strengthening existing models, in order to increase the number of revenue sources.
In addition to the sale of online advertising, which accounted for the largest share of 2010 gross
revenue, Bolsa de Mulher aims to increase its revenues in the following business lines:
1. e-commerce, especially through Estrela Guia (products related to astrology) and Bem Leve
(diet plans);
2. sale of advertising through the Pink Adnetwork, increasing available marketing space by
including content from partner blogs;
3. group purchases: association with the Brazilian group-purchase leader through a revenue
sharing system;
4. games focused on women; 15
5. consultancy and research focused on market intelligence for women, through the Sophia Mind
research institute;
Bolsa de Mulher closed 2010 with 9.7 million registered subscribers and began to institute user
reactivation campaigns. The number of unique visitors in December 2010 totaled 13.0 million, 83.1% up
on the same month in the previous year.
Fourth-quarter operating expenses fell by 31.0% YoY due to the reduction in branding expenditure, in
turn due to the success of previous campaigns to strengthen the brand’s image with the trade.
EBITDA totaled R$1.4 million in 4Q10, benefiting from the reduction in operating expenses, and a
negative R$52 thousand in 2010 as a whole.
Bolsa de Mulher posted net income of R$982 thousand in 4Q10, versus a net loss of R$803 thousand
in 4Q09, and a net loss of R$686 thousand in 2010, versus a loss of R$511 thousand in 2009.<0}
Some of Grupo Bolsa de Mulher’s operational performance indicators are shown below:

16. 4Q10 Results
No. of Unique Visitors¹ No. of Registered Subscribers²
¹ Individuals or individual browsers accessing a website ² Indicates the number of subscribers registered with the portal,
or viewing specific content. This number is counted once allowing them to access the social network and certain exclusive
a month and indicates the website’s audience. content.
Bolsa de Mulher (R$ thousand)
4Q09 4Q10 % Chg. 3Q10 % Chg.
Net Revenue 5,190 4,963 -4.4% 4,350 14.1%
Gross Profit 5,115 4,900 -4.2% 4,274 14.6%
Gross Margin 98.5% 98.7% N/A 98.3% N/A
Operating Expenses (5,038) (3,478) -31.0% (5,003) -30.5%
EBITDA 77 1,422 17 (729) N/A
EBITDA Margin 1.5% 28.7% N/A -16.8% N/A
Depreciation (104) (101) -3.5% (20) 401.6% 16
Net Financial Result (202) (46) -77.3% 16 N/A
Non-Operating Result - - N/A - N/A
Income Taxes (342) (312) -8.8% 13 N/A
Profit Sharing (231) 19 N/A - N/A
Net Result (803) 982 N/A (720) N/A
 Officer
Officer is the largest IT equipment and software distributor in Brazil. It maintains relations with the major
global suppliers of IT products and has a network of more than 10,000 active resellers.
In 4Q10, the company recorded net revenue of R$233.9 million, 22.5% up on the same quarter last
year. Hardware sales accounted for 80% of total revenue and software sales for 20%.
In 2010, Officer posted its best ever annual result, with gross revenue of more than R$1 billion and net
revenue of R$852.9 million, versus R$704.9 million in 2009 and R$727.2 million in 2008, its previous
best performance.
Fourth-quarter EBITDA totaled R$12.1 million, a 289.5% improvement over 4Q09, with an EBITDA
margin of 5.2%, up by 3.60 p.p.
The substantial EBITDA and margin upturn was chiefly due to the following factors:
I. strong sales growth, especially to small and medium enterprises and at Christmas;
II. the recalculation of tax credits arising from the ICMS tax substitution regime, which generated a
non-recurring gain of R$1.2 million with no cash impact, in turn reducing the cost of goods
sold;

17. 4Q10 Results
III. lower delinquency, reversing provisions for doubtful accounts (PDA); and
IV. the reduction in provisions for inventory losses.
The company’s net financial result was R$4.7 million in 4Q10, versus R$2.3 million in the same quarter
last year. This upturn was driven by the higher demand for working capital to meet sales growth needs.
In addition, the company renewed loans, leading to higher expenses with financial transactions tax
(IOF).
Officer’s net income totaled R$6.2 million in 4Q10, its highest ever quarterly figure, and R$10.1 million
in 2010, 152.8% up on 2009
Some of Officer’s operational performance indicators are presented below:
Day of inventories, receivables and payment¹ Software and Hardware Sales
17
¹ Permits calculation of the cash cycle, which is extremely important
for distributors of IT products
Officer (R$ thousand)
4Q09 4Q10 % Chg. 3Q10 % Chg.
Net Revenue 190,892 233,890 22.5% 225,923 3.5%
Gross Profit 26,194 36,270 38.5% 28,212 28.6%
Gross Margin 13.7% 15.5% N/A 12.5% N/A
Operating Expenses (23,093) (24,191) 4.8% (22,545) 7.3%
EBITDA 3,101 12,079 289.5% 5,667 113.2%
EBITDA Margin 1.6% 5.2% 2.5%
Depreciation (461) (103) -77.6% (502) -79.4%
Net Financial Result (2,260) (4,740) 109.8% (2,482) 91.0%
Non-Operating Result - - N/A - N/A
Income Taxes 69 (1,057) -8,4% (968) 9.1%
Profit Sharing - - N/A - N/A
Net Result 449 6,179 1276.0% 1,715 260.4%

18. 4Q10 Results
 Padtec
Padtec posted record net revenue of R$64.8 million in 4Q10, 76.8% up on 4Q09 and 38.2% more than
the previous three months. In the fourth quarter, it began selling a new product line consisting of
integrated modules and components for advanced optical communication systems that operate at a
speed of 40 Gbps. In addition, the company is preparing to launch the next generation of these
products, with speeds of 100 Gbps, by the end of 2011.
Annual net revenue came to R$175.5 million, 65.2% up on 2009.
As announced by Ideiasnet on November 5, 2011, Padtec won the first auction to supply equipment to
Telebrás’ national telecom network as part of the National Broadband Program (PNBL). The transaction
will total R$63.03 million, with the possible addition of a further 10% on the amount envisaged in the Bid
Notice as of 1Q11, depending on the client’s contracting pace. It is worth noting that, thanks to the price
registration system, Padtec is authorized to sell the same equipment involved in the Telebrás bid to
other state-owned firms for the same price, representing potential sales growth.
Contracted gross revenue for billing in 2011, added to the carryover from the previous year, totaled 18
R$117.1 million at the close of 2010, representing more than half of gross sales in the previous year.
The launch of the new 40 Gbps products was reflected in higher margins in the quarter. EBITDA totaled
R$12.3 million in 4Q10, 66.8% up YoY, accompanied by an EBITDA margin of 19.0%, higher than the
18.4% recorded in 3Q10. In the full year, EBITDA amounted to R$28.6 million, with a margin of 16.3%.
Operating expenses totaled R$21.9 million, versus R$11.5 million in 3Q10. Annual operating expenses
amounted to R$54.6 million, due to investments in R&D.
The fourth-quarter financial result was a net expense of R$2.7 million, reflecting the extension of mid-
term debt and a reduction in the cost of debt. In 2010 as a whole, the net financial result was positive by
R$6.1 million, versus a positive R$6.5 million in 2009.
Padtec posted net income of R$6.6 million in 4Q10, 11% down on the same period a year earlier, due
to the distribution of dividends to minority shareholders, implying declaration of interest on equity.
Annual net income came to R$17.8 million, a new record, versus R$3.4 million in 2009.
Accelerated growth is likely to continue in 2011, fueled by demand from the PNBL and the global trend
towards even greater data transmission capacities. The company’s current product portfolio, as well as
future products that explore its basic technologies, put Padtec in an excellent position to capture new
markets in Latin America and the rest of the world.
Some of Padtec’s operational performance indicators are shown below:

19. 4Q10 Results
Investments in Development Production Trends
Padtec (R$ thousand)
4Q09 4Q10 % Chg. 3Q10 % Chg.
Net Revenue 36,672 64,823 76.8% 46,896 38.2%
Gross Profit 16,711 34,239 104.9% 20,186 69.6%
Gross Margin 45.6% 52.8% N/A 43.0% N/A
Operating Expenses (9,325) (21,919) 135.1% (11,540) 89.9%
EBITDA 7,386 12,320 66.8% 8,646 42.5%
EBITDA Margin 20.1% 19.0% N/A 18.4% N/A
Depreciation (514) 1,317 -356.2% (938) -240.4%
Net Financial Result (2,198) (2,656) 20.8% (2,087) 27.2%
Non-Operating Result - 872 N/A (1,040) N/A
Income Taxes 3,388 (2,233) N/A 24 N/A
Profit Sharing (652) (3,023) 363.7% - N/A
19
Net Result 7,410 6,597 -11.0% 4,605 43.3%
 Pini
Pini produces and distributes strategic information for construction companies and professionals
through magazines, software and the provision of services, and is the leader in its segment.
Demand for Pini’s products and services accompanies the performance of the construction market,
which is currently doing exceptionally well thanks to high economic growth, the growing purchasing
power of the C and D income groups, the availability of credit, Brazil’s housing deficit, and prospects of
investments in infrastructure due to the upcoming sporting events (World Cup and Olympic Games), the
pre-salt oil discoveries and the government’s Growth Acceleration Program (PAC).
Net revenue totaled R$8.9 million in 2010, 23.8% up on 4Q09 and 9.1% more than in 3Q10. Advertising
revenue came to R$3.1 million, versus R$2.6 million from subscriptions and R$2.2 million from software
sales. Annual net revenue stood at R$32.0 million, 16.3% up on 2009.
Fourth-quarter EBITDA was R$24 thousand, 94.7% down YoY, with an EBITDA margin of 0.3%, versus
6.4% in 4Q09. The increase in cash flow was chiefly due to higher segment demand and the scalability
of the business. In 2010, EBITDA totaled R$1.5 million, 3.9% more than the R$1.4 million recorded in
2009, with a margin of 4.7%.
Pini posted a net loss of R$249 thousand in 4Q10, due to the increase in financial expenses, which
amounted to R$302 thousand in the quarter. Net income in 2010 came to R$50 thousand.

20. 4Q10 Results
Some of Pini’s operational performance indicators are presented below:
Print Run Advertising Revenue (R$ thousand)
2009: 766,730
2010: 772,032
Pini (R$ thousand)
4Q09 4Q10 % Chg. 3Q10 % Chg.
Net Revenue 7,155 8,857 23.8% 8,117 9.1%
Gross Profit 4,530 5,929 30.9% 5,507 7.7%
Gross Margin 63.3% 66.9% N/A 67.9% N/A
Operating Expenses (4,074) (5,905) 44.9% (5,070) 16.5%
EBITDA 456 24 -94.7% 438 -94.5%
EBITDA Margin 6.4% 0.3% N/A 5.4% N/A
Depreciation (52) (61) 17.4% (57) 6.4%
Net Financial Result 83 (264) N/A (174) 51.5% 20
Non-Operating Result 223 - N/A 23 N/A
Income Taxes (133) 51 N/A (149) N/A
Profit Sharing (9) - -96.4% - N/A
Net Result 569 (249) N/A 80 N/A
 Softcorp
Softcorp is a leading supplier of integrated technology solutions for the corporate, government and
educational markets in Brazil. With more than 20 years of operations, the company offers an ample
range of solutions, combining high-level software, hardware, networking, services and technical
support.
In 2010, Softcorp consolidated its market position as an integrator of technology solutions. As a result,
service profitability increased by 50% in the quarter and 35% in the full year, versus 29% in 2009.
Fourth-quarter net revenue grew by 26.7% over 3Q10 to R$16.7 million and totaled R$57.8 million for
the year as a whole, 16.9% up on 2009. The ratio of recurring net revenue moved up over 2009, so the
company began 2011 with 20% of recurring 2010 revenue.
Operating expenses came to R$2.6 million in 4Q10, 89.9% up on 4Q09, but 8.6% less than the
previous quarter. In the full year, operating expenses remained virtually flat over 2009 at R$11.5 million.
EBITDA amounted to R$806 thousand, less than the R$1.7 million recorded in 4Q09, but 145.6% more
than in 3Q10. Annual EBITDA came to R$ 986 thousand, triple the previous year’s total.

21. 4Q10 Results
The company posted a 4Q10 net loss of R$158 thousand, versus net income of R$651 thousand in
4Q09 and a loss of R$928 thousand in 3Q10.
Some of Softcorp’s operational performance indicators are presented below:
Source of Net Revenue Average Payment Period (days)
21
Softcorp (R$ thousand)
4Q09 4Q10 % Chg. 3Q10 % Chg.
Net Revenue 13,169 16,680 26.7% 13,833 20.6%
Gross Profit 3,103 3,385 9.1% 3,150 7.5%
Gross Margin 23.6% 20.3% N/A 22.8% N/A
Operating Expenses (1,358) (2,579) 89.9% (2,822) -8.6%
EBITDA 1,745 806 -53.8% 328 145.6%
EBITDA Margin 13.2% 4.8% N/A 2.4% N/A
Depreciation 133 (89) -166.8% (93) -4.6%
Net Financial Result (406) (875) 115.2% (1,163) -24.8%
Non-Operating Result (820) - N/A - N/A
Income Taxes - - N/A - N/A
Profit Sharing - - N/A - N/A
Net Result 651 (158) N/A (928) 487.3%
 TecTotal
Thanks to its more advanced stage of development, we will be reporting TecTotal’s results as of this
quarter.
TecTotal belongs to the Infrastructure & Telecom segment, supplying, installing and configuring IT,
audio-visual, entertainment and automation equipment for the residential market. It was founded in
2008 as a joint venture between Ideiasnet, which owns a 33.5% stake, Telefónica, Intel Capital and
Automatos. It is a pioneering company and the market leader, with a presence in the country’s leading
retail chains and contracts with the main internet and telephony providers.

22. 4Q10 Results
Its revenue comes from three main lines of business:
1. Sales through retail chains: when acquiring a product on the retail market, customers also
acquire IT technical support or consumer electronics installation and configuration services,
adding value to equipment sales.
2. Sales through service providers: the sale of IT technical support services through broadband,
cable TV and internet providers, as well as insurance companies.
3. Direct sales: sale of services to final customers on the site and through cross-selling.
In 2010, TecTotal reported net revenue of R$ 18.4 million, a massive 220.1% more than the previous
year, fueled by the expansion of the company’s activities, the higher number of retail partners and
growth in audio-visual sales due to the World Cup. Sales through retail chains accounted for 85.4% of
the total, while sales through providers accounted for 14.5% and direct sales for only 0.1%, albeit
tending to grow.
Annual EBITDA was a negative R$ 1.9 million. This year was marked not only by TecTotal’s market
consolidation, but also by the expansion of its activities, the rationalization of resources and reduced
expenses. The company began operating with a streamlined structure, fully prepared for expected
growth in the coming years.
22
In 2010, TecTotal posted a net loss of R$ 2.5 million.
Revenue in the future is expected to increase, primarily due to:
I. The entry of new partners in the retail and service provider segments;
II. Increased sales of IT, TV and audio-visual equipment, as well as cell phones and smartphones,
through retail chains;
III. Expansion of the service-provider product portfolio and customer base, ensuring recurring
service revenue.
As a result, cash flow and margins should also move up, given that TecTotal’s current business model
has potential scale gains, accompanying sales growth.
Share of Revenue Sales Growth
Direct sales are not shown on the graph, since their share is less than 0.5%

23. 4Q10 Results
TecTotal (R$ thousand)
4Q09 4Q10 % Chg. 3Q10 % Chg.
Net Revenue 1,933 5,717 195.7% 5,422 305.6%
Gross Profit (355) 2,293 -745.1% 565 0.0%
Gross Margin -18.4% 40.1% N/A 10.4% N/A
Operating Expenses (88) 117 N/A (576) N/A
EBITDA (443) 2,410 N/A (11) N/A
EBITDA Margin -22.9% 42.2% N/A -0.2% N/A
Depreciation (150) 350 N/A (350) N/A
Net Financial Result (40) 87 N/A (399) N/A
Non-Operating Result (68) - N/A 78 N/A
Income Taxes 65 (66) N/A - N/A
Profit Sharing - - N/A - N/A
Net Result (636) 2,781 N/A (681) N/A
23

24. 4Q10 Results
Combined Proportional Income Statement
(R$ thousand)
24
(R$ thousand)

25. 4Q10 Results
(R$ thousand)
(R$ thousand) 25

26. 4Q10 Results
 Consolidated Balance Sheet
26

27. 4Q10 Results
27

28. 4Q10 Results
 Consolidated Income Statement
IDEIASNET S.A.
STATEMENTS OF INCOME YEARS ENDED 31 DECEMBER 2010
AND 2009
(Amounts in thousands of reais)
Consolidado
2010 2009
Net operating revenues
1.075.999 840.053
Cost of goods sold
(863.419) (694.110)
Gross operating income
212.580 145.943
Other income (Expenses)
General and administrative
(88.519) (71.739)
28
Operating
(104.111) (76.772)
Equity result
(869) (0)
Investment losses
(18.434) 2.242
Other profit (loss), net
(5.221) (17.828)
(217.154) (164.097)
Operating results before net financial results
(4.574) (18.154)
Financial revenues
10.352 13.432
Financial expenses
(35.334) (28.328)
Financial result
(24.982) (14.896)
Operating result
(29.556) (33.050)
Earnings before taxes
(29.556) (33.050)
Income tax and social contribution
(5.912) 922
Net loss
(35.467) (32.128)
Minority shareholders
(3.961) (4.686)
Controlling shareholders
(31.507) (27.442)

29. 4Q10 Results
(35.468) (32.128)
Number of shares
115.381 100.709
Losses per share
(0,307402) (0,319016)
 Cash Flow Statement
IDEIASNET S.A.
STATEMENT OF CASH FLOWS AS AT 31 DECEMBER 2010
(Amounts in thousands of reais)
Consolidado
2010 2009
Net Cash from Operating Activities 4.535 (52.241)
Cash flow from operations (27.140) (31.172)
Net loss (31.508) (27.442)
Equity result 869 0
Depreciation and amortization 3.499 (3.730)
Assets and liabilities variation 31.675 (21.070)
Clients (17.239) (31.148) 29
Other receivables 12.805 6.442
Related parties 14.952 831
Recoverable taxes (13.472) (6.906)
Anticipated expenses (133) (158)
Loans 19.899 5.644
Suppliers 13.020 (3.003)
Labor, tax and social obligations 11.128 933
Deferred taxes - -
Other obligations 5.430 4.979
Equity provisions 1.325 -
Inventories (11.730) 2.265
Legal deposits (109) 28
Mutual agreements (2.614) 1.951
Advance for future capital increase 1.166 (5.206)
Taxes due (449) 879
Minority interest (2.306) 1.398
Other - -
Net cashfrom investing activities (37.141) (5.136)
Investments (1.106) 8.499
Fixed assets (6.881) 2.363
Intangible assets (29.153) (15.999)
Net cash from financing activies 60.006 13.179
Loans 10.375 19.603
Capital reduction - (27.161)
Capital increase 50.126 -
Contributed capital 1.510 14.420
Capital reserve (893) 6.777
Receivables from subsidiaries - -
Adjustment to Equity Valuation (1.112) (460)
Effects of changes in exchange rates on cash and cash - -
equivalents
Increase (Reduction) of cash and equivalents 27.401 (44.199)
Cash and cash equivalents ‐ Beginning of period 14.411 58.610
Cash and cash equivalents ‐ End of period 41.812 14.411