Russian OSS vendor up revenues, narrows losses

May 29, 2012

1 Min Read

MOSCOW -- JSC SITRONICS (‘SITRONICS’ or ‘the Group’) (LSE: SITR), the leading provider of technology solutions in Russia and the CIS, today announced its unaudited consolidated US GAAP financial results for the three months ended March 31, 2012.

FIRST QUARTER HIGHLIGHTS

  • Consolidated revenues up 20% year on year to US$ 333.7 million

  • Information Technologies revenues up 44% year on year to US$ 155.3 million; Telecommunication Solutions revenues up 8% year on year to US$ 106.3 million and Microelectronics revenues down 8% year on year to US$ 62.5 million

  • OIBDA1 of US$ 9.7 million and OIBDA margin of 2.9%, up from OIBDA of US$ 5.8 million in Q1 2011

  • Net loss attributable to SITRONICS of US$ 8.4 million, down from net loss attributable to SITRONICS of US$ 12.7 million in Q1 2011

  • Total assets down 8% year on year to US$ 1,819.2 million

  • US$ 1,976.6 million of contracts secured since the beginning of 2011, of which US$ 158.8 million since the announcement of Q4 2011 on April 19, 2012

    JSC Sitronics (London: SITR)

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