Sitronics narrows Q3 losses 37.5%, boosts OIBDA 51%

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Sitronics narrows Q3 losses 37.5%, boosts OIBDA 51%

MOSCOW. Dec 2 (Interfax) - Sitronics narrowed net losses to US GAAP 37.5% year-on-year in Q3 2010 to $14.8 million, the Russian tech firm said in a statement.

Sales revenue grew 1% to $223.6 million, operating income before depreciation and amortization (OIBDA) jumped 51% to $17.5 million and the OIBDA margin rose to $7.8% from 5.2%.

Net losses decreased to $64.8 million in 9M 2010, from $81.7 million a year previously. Sales revenue rose 9% to $682.5 million, OIBDA doubled to $50.8 million and the margin rose to 7.4% from 4.1%.