BERLIN Russian electronics conglomerate Sitronics took a net loss of $234M (150M euros) for fiscal year 2007 while semiconductor unit revenues outperformed all other divisions.
The company's microelectronic solutions unit, which includes semiconductor manufacturing, saw revenues soar 77 percent to $217M (139M euros) year-on-year.
"Strong sales growth was fueled by robust demand in the Russian microelectronics market, which grew at approximately double the pace of the global market," the company said in a statement. In addition, government orders for R&D projects increased.
The company's total 2007 revenues were flat at $1.62B (1B euros).
The net loss compares to a profit of $172M (110M euros) in 2006.
Sergey Aslanian, Sitronics' president, called 2007 a challenging year.