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MTS cuts sales growth outlook on Ukraine weakness
2014-08-20 14:56:00| Telecompaper Headlines
(Telecompaper) Russian mobile operator MTS reported second-quarter revenues up 1.4 percent year-on-year to RUB 98.9 billion, as strength in its home market offset the difficult market conditions in Ukraine. OIBDA fell 2.6 percent to RUB 43.2 billion, after a one-time gain last year for the settlement with Vimpelcom over control of the Kyrgyzstan mobile operator Bitel. Without the one-time gain, OIBDA declined by 0.6 percent, due to the difficulties in Ukraine and costs for mobile and fixed network expansion in Russia. Net profit totaled RUB 21.1 billion, down 27.4 percent from a year earlier when it booked a one-time accounting gain. Excluding the Bitel settlement, operating free cash flow increased 12.0 percent to RUB 46.0 billion. The macroeconomic weakness and uncertain political environment in Ukraine led the company to lower its revenue growth outlook for 2014 to 1 percent. Russia is still expected to grow at the high end of its initial guidance of 3-5 percent, after a revenue increase of 4.5 percent in Q2. Group OIBDA is forecast stable year-over-year, and MTS maintained its capex budget at RUB 90 billion over the full year.
Tags: sales
growth
ukraine
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Cisco's 6,000 Job Cuts Drown Out EZchip Profits: Israel Markets
2014-08-17 18:52:03| Electronics - Topix.net
EZchip Semiconductor Ltd. reported double-digit earnings and sales growth last week, beating analysts' estimates for a second straight quarter.
Cisco's 6,000 Job Cuts Drown Out EZchip Profits: Israel Markets
2014-08-17 02:21:41| Semiconductors - Topix.net
EZchip Semiconductor Ltd. reported double-digit earnings and sales growth last week, beating analysts' estimates for a second straight quarter.
Report: Sprint's price cuts may cost some jobs
2014-08-16 17:04:27| IT Services - Topix.net
And only four days into the job, Claure reportedly told staff that he'll reveal a new pricing plan that aims to recoup its exodus of subscribers.
Phila. schools to open on schedule, but with deep budget cuts
2014-08-16 05:40:57| Electronics - Topix.net
City schools will open as scheduled Sept.8, but with deep cuts to student transportation, school police and building maintenance, Superintendent William R. Hite Jr. said Friday.
Tags: open
schools
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