Russian boom helps ramp Sitronics, Mikron sales
June 07, 2007 //
JSC Sitronics, a Russian provider of telecommunications and consumer equipment and owner of chip maker JSC Mikron (Zelenograd, Russia), increased its annual sales revenue by 69 percent in 2006 to $1.61 billion. Mikron more than doubled its annual sales revenue.
LONDON JSC Sitronics, a Russian provider of telecommunications and consumer equipment and owner of chip maker JSC Mikron (Zelenograd, Russia), increased its annual sales revenue by 69 percent in 2006 to $1.61 billion. Mikron more than doubled its annual sales revenue.
Sitronics made a net profit of $61.3 million on sales revenue of $1.61 billion in 2006. Net profit was down slightly from $69.2 million in 2005, mainly due to increased capital spending and depreciation, the company said in its regulatory filing.
Sitronics now reports its results in english as a consequence of issuing and listing Global Depository Receipts on the London Stock Exchange earlier in 2007. One GDR represents 50 shares. Sitronics raised $356.5 million net in the IPO conducted in February.
The microelectronics division, essentially Mikron, is engaged in the design, production and distribution of of ICs, chip cards and microchip packaging. It more than doubled sales revenue from $56.9 million in 2005 to $122.6 million in 2006, according to financial results from Sitronics.
The growth was attributed to increased economies of scale and the successful launch of products during the year, including the production of flexible chip modules, Moscow Metro fare cards and mobile phone SIM cards.
During the year Sitronics signed strategic alliances with STMicroelectronics NV, which is providing next-generation process technology, and Cisco Systems Inc., raised $200 million through a Eurobond placement and sold 3.67 percent of its share capital to the European Bank for Reconstruction and Development (EBRD) for $80 million.
"We have entered 35 new markets and more than doubled the number of countries in which we operate. We are now exporting our solutions to 60 countries around the world. We also launched a wide range of new products and services during 2006 and entered into alliances with some of the world's leading technology companies, in order to enable the group to benefit from continued growth moving forward," said Evgeny Utkin, president of Sitronics, in a statement.
"We also reorganized our capital structure during the year and successfully raised substantial loan financing ahead of our IPO, which was successfully completed after the end of the year," he added.
Sitronics, has plants in Greece, the Czech Republic and the Ukraine, as well as in Russia.
Understanding capacitors, ripple and self-heating
March 06, 2015
Chris Reynolds, technical manager at AVX Corp., discusses ripple ratings – or how to cook a capacitor.
Harman: How the Connected Car shapes future infotainment systems
Sensors for wearable electronics on 40% CAGR
Fan-out wafer level packaging fills gap to 3D, says Yole
Samsung acquires YESCO to strengthen LED display expertise
Lower the cost of solar cells - just add water
March 05, 2015
Researchers at Japan's Okinawa Institute of Science and Technology Graduate University's (OIST) Energy Materials and Surface ...
Sony switches to OLEDs to upgrade VR helmet
Tower makes IR sensor for Intel RealSense
Polymer blend improves solar cell efficiency by 200 percent
- High Performance Portable DC Bench Power Supply: Save Money and Free Up Bench Real Estate by Building Your Own
- Software-Defined Radio Handbook
- A Four-Quadrant DC/DC Switching Regulator Smoothly Transitions from Positive to Negative Output Voltages for FPGA and Other Applications
- LED Driver with Integrated Spread Spectrum Reduces EMI without Adding Flicker
InterviewInfineon: CAN FD success goes at the expense of FlexRay
The faster version of the venerable CAN bus, CAN FD is currently taking off at several carmakers. Infineon's Thomas Böhm, Head of Body / Automotive, believes this could well go at the expense of FlexRay. ...
Filter WizardCheck out the Filter Wizard Series of articles by Filter Guru Kendall Castor-Perry which provide invaluable practical Analog Design guidelines.
Linear video channel
READER OFFERRead more
To ensure you have a good start in 2015, Freescale is giving away five of its QorIQ TWR-LS1021A Tower system modules, worth USD269 each, for EETimes Europe's readers to win.
The module is the most feature-rich and high-performance Tower system offered by Freescale, enabling compatibility and interoperability with the growing list of Tower expansion modules, offering an easily accessible...MORE INFO AND LAST MONTH' WINNERS...
December 15, 2011 | Texas instruments | 222901974
Unique Ser/Des technology supports encrypted video and audio content with full duplex bi-directional control channel over a single wire interface.