Results of ARNA OJSC (Kazakhstan) activity for I quarter 2004

/IRBIS, Galina Tsalyuk, August 9, 04/ - ARNA OJSC (Almaty), whose bonds are traded under "A" official securities list at KASE, presented KASE the financial statements for I quarter 2004. According to audited financial statement's data the results of the company's financial and economic activity in the first quarter 2004 are as follows (in th. KZT, unless otherwise indicated): ------------------------------------------------------------- As of As of Change, Indicator Apr 1, 03 Apr 1, 04 % --------------------------------- --------- --------- ------- Authorized capital (paid) 5,000 5,000 0.0 Shareholders' equity 1,515,793 1,554,066 +2.5 Total assets 2,392,691 2,682,326 +12.1 Net working capital -102,005 113,389 +211.2 Accounts receivable (net) 919,387 958,587 +4.3 Total liabilities 876,898 1,128,260 +28.7 Loans attracted (excluding bonds) 350,259 153,875 -56.1 Bonds floated 205,000 465,000 +126.8 Accounts payable 321,639 509,335 +58.4 Sales 439,013 610,511 +39.1 Cost of goods sold 184,570 383,886 +108.0 Net income 158,644 75,733 -52.3 ------------------------------------------------------------- Relative to I quarter 2003 the growth occurred in: - shareholders' equity of the company - by KZT 38.3 m, as a result of increase of retained earnings by the same amount; - assets - by KZT 289.6 m, due to increase in depreciated value of fixed assets by 498.9 m, and other assets - by 40.7 m; while long-term financial investments fell by 250.0 m - liabilities - by KZT 251.4 m, including: floated bonds - by 260.0 m and accounts payable by 187.7 m and fall in attracted loans - 196.4 m; - sales volume - by KZT 171.5 m; - cost of goods sold - by KZT 199.3 m; In I quarter 2004 ARNA OJSC received net income 82.9 m lower than in same period of 2003. Company's primary activities: implementation and maintenance of networks and systems of electric and radio communication; development, introduction and maintenance of new technologies and services in telecommunication and information science. [2004-08-09]