Artelecom, Arkhangel Region, a branch of North Western Telecom, released its financial results for the first nine months of 2002.  All in all, RUR 672.5 million was generated in revenue from telecom services provided to the public, businesses and budget-dependent organizations of the Arkhangel Region, which represents an increase of 26.2 percent over the year-earlier period. In addition, RUR 708.3 million in gross revenue was earned, which is up 23.2 percent year on year.  

Sales revenue stood at RUR 150.3 million, an annual growth rate of 133.7 percent. Pre-tax profit dropped 42 percent compared to the same period last year and reached RUR 27.9 million.  The decrease was due to a negative forex difference equal to RUR 44.2 million and the establishment of bad debt provision in compliance with the current laws of the Russian Federation.  

Revenues from value-added services increased 120% driven by an increase in Internet subscribers and ISDN earnings.   

Capital investments in telecom network development totaled RUR 95 million during 2002.  A total of 2,430 new channels were added to the switching centers of AMTS Arkhangel and four base switching facilities were added to the Federal Mobile Cellular Network for the Arkhangel Region.   

As of September 1, 2002 all fixed and wireless assets of OJSC AGTS were transferred under leasing rights to OJSC Artelecom.  As a result of AGTS' network leasing and implementation of an access plan the number of new telephone lines in the city network reached 61,400.  

Outgoing payment exchange on long-distance and international traffic increased 19.8 percent compared to the previous year.  

Over the first nine months of 2002 the company switched 20,000 of its radio channels over to UKV-ChM broadcasting following a repeat inventory and drop in public demand for cable broadcasting.  

Outgoing telegraph exchange was down 12 percent.