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VimpelCom Posts $1 Billion Loss After Uzbek Bribery Provision
2015-11-06 18:37:03| Telecom - Topix.net
VimpelCom Ltd. swung to a quarterly loss after making a $900 million provision to cover potential U.S. and Dutch fines over bribery allegations in Uzbekistan. The carrier made a net loss of $1 billion in the third quarter, compared with a $105-million profit a year earlier, Amsterdam-based VimpelCom said in a statement Friday, citing figures excluding Italian operations.
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Vimpelcom posts USD 1 bln loss in Q3 on Uzbekistan provision
2015-11-06 09:06:00| Telecompaper Headlines
(Telecompaper) Vimpelcom reported a net loss of USD 1.005 billion for the third quarter, versus a profit of USD 105 million a year earlier, due to a provision of USD 900 million for possible damages from the pending investigation into its Uzbekistan activities. Underlying results were also under pressure from negative currency effects and difficult economic conditions in some of the Russian company's markets. Revenues fell 31 percent to USD 2.442 billion, and EBITDA was down 96 percent to USD 58 million. On an organic basis excluding currency effects, Vimpelcom said revenues were up 2 percent, while EBITDA excluding one-time items was down just 1 percent. The new CEO Jean-Yves Charlier said the company was sticking to its financial targets as the transformation programme started earlier this year makes progress. The company will give more details on its strategy at the full-year results penetration next year, he said. For 2015, Vimpelcom forecasts service revenue flat to a single-digit decline, the underlying EBITDA margin flat to minus 1 percent point, and capital expenditure excluding licence fees at 18-20 percent of revenue. In the first nine months of the year, service revenue was flat, the underlying EBITDA margin fell 1.2 percent points to 41.3 percent, and capital expenditure nearly halved to USD 1.137 billion, or 15.5 percent of revenue. Operating cash flow in the nine months was down 23 percent year-on-year to USD 1.887 billion, but Vimpelcom said it will pay a dividend of USD 0.035 per share in December.
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Cedar Realty Trust (CDR) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS
2015-11-06 07:58:59| IT Services - Topix.net
Cedar Realty Trust issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.14 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.03 by $0.11, Analyst Ratings Network.com reports.
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Schweitzer-Mauduit International (SWM) Posts Quarterly Earnings...
2015-11-05 23:15:40| Paper - Topix.net
Schweitzer-Mauduit International released its earnings results on Wednesday. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.94 by $0.05, MarketBeat reports.
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Olympic Steel (ZEUS) Posts Earnings Results, Beats Estimates By $0.04 EPS
2015-11-05 16:39:08| Steel - Topix.net
Olympic Steel released its quarterly earnings results on Thursday. The company reported earnings per share for the quarter, topping the Zacks' consensus estimate of by $0.04, AnalystRatingsNetwork.com reports.
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