The Board of Directors of OJSC RTI, the sole shareholder of OJSC Sitronics, elected a Board of Directors of the subsidiary company consisting of 9 members, Sitronics informed.
In particular, Sergey Aslanian (President, Sitronics), Svetlana Afanasyeva (Deputy General Director, head of the Communications and Authorities Interaction Unit at RTI), Sergey Boev (General Director, RTI), Marina Zabolotneva, Igor Zakharchenko (Deputy General Director, head of the Strategy and Development Unit, RTI), Gennady Krasnikov (Vice President of Sitronics, head of SITRONICS Microelectronics, General Director of JSC NIIME) Andrey Ryabov (Deputy General Director, head of the Corporate Governance and Property Relations Unit at RTI), Igor Temirov (General Director, JCS Intellect Telecom), Sergey Tishenko (General Director of OJSC Concern RTI Systems) were elected members of the Board of Directors.
Besides, RTI approved CJSC Deloitte & Touche CIS as the auditor of Sitronics as per US GAAP for 2012.
OJSC Sitronics (tax number: 7735116621) provides solutions for telecommunications, IT and microelectronics in Russia, the CIS countries, Central and Eastern Europe, in the Middle East and Africa. The company was established 2002. The authorized capital of Sitronics is RUB 9.547 billion. OJSC RTI (a subsidiary of JSFC Sistema) owns 100% of Sitronics shares.
The principal assets of Sitronics are located in Moscow, Prague and Athens (telecommunication solutions), Kiev (IT solutions), and Zelenograd (microelectronics).
US GAAP net loss of OJSC Sitronics for Q1 2012, according to the company's unaudited report, decreased by 33.9% to $8.387 million from $12.696 million for the same period in 2011. Consolidated revenue increased by 20.2% to $333.685 million from $277.639 million. OIBDA was $9.697 million exceeds the result achieved in Q1 2011 ($5.756 million) by 68.5%. OIBDA margin increased to 2.9% from 2.1%.
Net profit (RAS) of OJSC Sitronics for 9 months 2012 was RUB 2.29 billion against a net loss of RUB 512.708 million for the same period in 2011. Revenue decreased by 25.7% to RUB 305.361 million from RUB 410.974 million.