The company reported revenues of $540.3 million, a 16.3% growth, with EBITDA income (before interest, taxes, depreciation, amortization and the non-cash stock-based compensation charge) increasing 23.5% to reach $164 million in the same period.
The company's expenses aggregated $393 million, which is 17.6% more than in the same period last year.
VolgaTelecom invested $51.4 million in its development in the third quarter and $121.3 since the beginning of the year, mostly in local (68%) and long distance (12%) services and in new services (9%).
VolgaTelecom is one of the seven regional operators of Svyazinvest, Russia's landline telecommunications conglomerate. It was founded in 2002 as a merger of 11 regional electric communications operators of Russia's Privolzhskiy Federal District. Its stocks are traded on the RTS stock exchange and on the Moscow Interbank Currency Exchange (MICEX) with level 1 American Depositary Receipts circulating on the international market.
