IRKUT CORPORATION SUMMED UP THE RESULTS OF THE 1st QUARTER 2011

JSC IRKUT Corporation published financial statements for 2010 and the first quarter of 2011 as part of quarterly report.

The company’s revenue by the end of 2010 compared with 2009 increased by 28% and amounted to 47 013.3 million rubles (approx 1672 million US$), which is associated with increased sales.

Gross profit increased after the revenue and amounted to 18 125.1 million rubles (approx 644.6 million US$), which is 30% higher than 2009 results.

Net income increased slightly – by 4%, mainly due to the influence of exchange rate changes.

According to the results of the 1st quarter of 2011, revenue of JSC IRKUT Corporation totaled 8 152 million rubles (approx 289.9 million US$) which is 8% higher than in the same period of 2010. Gross profit is 3 422 million rubles (approx 121.7 million US$), (growth to the 1st quarter of 2010 – 24%).

Gross profit margin reached 42%. Absolute and relative increase in gross profit resulted from the implementation of innovative technologies that reduced production costs and increased use of lean manufacturing technologies.

Net profit for the 1st quarter of 2011 totaled 733.4 million rubles (approx 26.8 million US$), which is almost 5 times exceeded the net profit for the same period of 2010. JSC IRKUT Corporation’s results for 2010 and the 1st quarter of this year show stable position of the company and its high growth and increasing profitability.

16.05.11

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