OREANDA-NEWS. JSC SITRONICS (“SITRONICS” or “The Company”) (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, with a growing presence in Central and Eastern Europe, the Middle East and Africa, today announced its summary unaudited consolidated US GAAP financial results for the first quarter of 2007 ended March 31, 2007.

Total revenues for the first quarter amounted to US$ 310 million, following healthy growth in the Information Technology Solutions and Microelectronics Solutions segment areas, as well as the impact of the consolidation of Intracom Telecom’s results for the first quarter of 2007.

SITRONICS acquired 51% of Intracom Telecom in June 2006 and SITRONICS’ total assets had consequently increased to US$ 1,97 billion as at the end of the first quarter. The proportion of revenues generated from unrelated parties reached 88%.

SITRONICS reported a negative OIBDA of US$ 11,4 million in the first quarter and a net loss of US$ 28 million.