Sitronics' net loss calculated to U.S. GAAP totaled $233.9 million in 2007, against net profit of $61.3 million in 2006. The loss for the first half of 2007 was $79.8 million.
Sitronics, a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, said its revenue was $926.8 million, up 45.2% against the first six months of 2007.
Sitronics President Sergei Aslanyan said Tuesday his company was planning to increase revenue by 25% to $2 billion in 2008 from last year's $1.6 billion.
AFK Sistema [RTS: AFKS], one of Russia's largest diversified companies, holds a 64.4% stake in Sitronics, and Sistema President Alexander Goncharuk controls another 3.14%. A 17.55% stake is floated freely.
