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Sitroniks OAO : SITRONICS’ 2011 Annual Financial Report

04/27/2012 | 10:07pm US/Eastern
  • 27 April 2012

    MOSCOW, Russia - April 27, 2012 - JSC SITRONICS (SITRONICS or the Company) (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, today announced that its 2011 Annual Financial Report, which includes the audited US GAAP financial statements for the financial year ended December 31, 2011, has been submitted to the FSA via the National Storage Mechanism and will shortly be available for inspection at: http://www.hemscott.com/nsm.do

    2011 Annual Financial Report is also available on the Company's website at: http://sitronics.com/investors/annualreports/

    On April 19, 2012, SITRONICS announced its consolidated US GAAP financial results for the fourth quarter and its audited results for the full year ended December 31, 2011.

    ***

    For further information, please visit www.sitronics.com or contact:

    Irina Lanina
    Vice President, Corporate Communications
    Tel: +7 495 225 0030
    lanina@sitronics.com

    Olga Ovchinnikova
    Ivestor Relations Director
    Tel: +7 495 225 00 30
    ir@sitronics.com

    SITRONICS is a leading provider of telecommunication solutions, including software, equipment and systems integration, IT solutions and microelectronic solutions in Russia and the Commonwealth of Independent States with a strong presence in Central and Eastern Europe and a growing presence in the Middle East and Africa.

    SITRONICS serves over 3,500 clients, maintains offices in 30 countries and exports its products and services to more than 60 countries.

    SITRONICS' key Telecommunication Solutions operations are based in Moscow (Russia), Prague (Czech Republic) and Athens (Greece), while the company`s IT Solutions and Microelectronics divisions are based in Kiev (Ukraine) and Zelenograd (Russia), respectively.

    SITRONICS generated revenues of US$ 1,475.1 million for the full year of 2011 and had US$ 1,863.2 million of assets at the year end. SITRONICS is majority owned by OJSC RTI, which is the subsidiary of Sistema, the largest public diversified corporation in Russia and the CIS.

    Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of SITRONICS. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other expressions. These statements are only predictions and actual events or results may differ materially. We do not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, and other factors specifically related to JSC "SITRONICS" and its operations.

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