MOSCOW, April 16 (RIA Novosti) - Russian cell phone operator MTS [RTS: MTSS] said on Wednesday its US GAAP net income increased 90% year-on-year in 2007 to $2.07 billion.

MTS, the largest mobile phone operator in Russia as well as in Central and Eastern Europe in terms of franchises, said its revenues in the reporting period grew 29% to $8.25 billion. OIBDA (operating income before depreciation and amortization) grew 31% to $4.22 billion and the OIBDA margin reached 51.2%, MTS said.

Dividend payments for 2007 could for the first time exceed $1 billion, MTS Financial Director Vsevolod Rozanov said.

MTS US GAAP revenues are expected to rise 25% year on year in 2008 to $10.32 billion, MTS said.