Financial results of TECHNO-LIFE JSC (Kazakhstan) for 2003

/IRBIS, Galina Tsalyuk, May 18, 04/ - TECHNO-LIFE JSC (former VALYUT- TTRANZIT TECHNOLOGY, Karaganda), whose bonds are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with consolidated financial statements for 2003. Following describes company's financial position and financial results of activities for the period that ended Dec 31, 2003 (in th. of KZT unless otherwise specified). --------------------------------------------------------------- As of As of Change, Indicator Jan 1, 03* Jan 1, 04 % ----------------------------- ---------- ---------- -------- Authorized capital (paid) 400,000 400,000 0.0 Shareholders' equity 466,938 467,841 +0.2 Total assets 505,236 2,041,564 +304.1 Net working capital 446,122 1,385,180 +210.5 Accounts receivable 13,990 803,029 +5,639.9 Total liabilities 38,298 1,573,722 +4,009.2 Borrowed loans - 572,556 - Accounts payable 38,298 1,166 -97.0 Bonds issued - 1,,000,000 - Sales volume 71,071 290,701 +309.0 Cost of goods sold 57,732 224,808 +289.4 Net income 1,215 903 -25.6 ----------------------------- ---------- ---------- -------- Ratios based on issuer's data ----------------------------- ---------- ---------- -------- Return on Sales, % 18.77 22.67 +20.8 Return on Equity, % 0.26 0.19 -25.8 Return on Assets, % 0.24 0.04 -81.6 --------------------------------------------------------------- Relative to 2002 following accounts increased: - Shareholders' equity by KZT903.5 th as a result of increase in retained earnings by the same amount; - Total assets by KZT1.5 bn, including accounts receivable by 789.0 m, book value of assets by 509.8 m, investments in securities by 161.5 m and other assets by 75.9 m; - Total liabilities by 1.5 bn caused by increase in borrowed loans account by 572.5 m and bonds issue for 1.0 bn, all while accounts payable sharnk by 37.1 m; - Sales volume by KZT219.6 m; - Cost of Sales by KZT167.1 m; - Period expenses by KZT52.2 m (5.3 times). Net income earned by TECHNO-LIFE JSC in 2003 fell by KZT311.5 th relative to a corresponding figure of 2002. Primary activities: the Company assembles, markets and repairs personal computers and other office appliances, projects and installs local telecommunication lines, maintains software packages. [2004-05-18]