MOSCOW, May 21, 2012 /PRNewswire/ --
Mobile TeleSystems OJSC ("MTS" - NYSE: MBT), the leading telecommunications provider in Russia and the CIS, today announces its unaudited US GAAP financial results for the three months ended March 31, 2012.
Key Financial Highlights of Q1 2012
- Consolidated revenues up 1.1% q-o-q to $3,014 million
- Consolidated OIBDA  down 1.3% q-o-q to $1,259 million with 41.8% OIBDA margin
- Consolidated net income  of $512 million
- Free cash-flow  positive with $829 million for the first three months of 2012
Key Corporate and Industry Highlights
- Commercial launch of the 3G network in the 900 MHz range in Moscow and the Moscow region
- Redemption of $400 million 2012 Eurobond
- Awarded first license in Russia to provide wireless communication services in the LTE TDD (time-division duplexing) standard in the 2595-2620 MHz range in Moscow and the Moscow region
- Signing of an agreement with Samsung Electronics to cooperate on retail projects, equipment sales and telecommunication services in Russia
- Annual dividend recommendation by the MTS Board of Directors of RUB 14.71 per ordinary MTS share (approximately $1.01 per ADR ) for the 2011 fiscal year, amounting to a total of RUB 30.4 billion (approximately $1.04 billion or 72% of US GAAP net income)
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