MOSCOW, April 17 (RIA Novosti) - Comstar United Telesystems [LSE: CMST] said on Thursday its U.S. GAAP net earnings declined 47% year-on-year in 2007 to $43.8 million.
Revenue in the reporting period increased 39% to $1.562 billion and OIBDA (operating income before depreciation and amortization) climbed 55% to $663.2 million (excluding $62.1 million stock bonus awards in the fourth quarter of 2007), the company said.
Comstar UTS, the largest multi-service communications operator in Moscow and the Moscow Region, as well as in several Russian regions and former Soviet republics, was formed in May 2004 through a merger of Comstar, MTU-Inform and Telmos.
Comstar UTS' main shareholder is AFK Sistema [RTS: AFKS], Russia's leading telecoms and services holding company, which has a 51% stake.
