VimpelCom Q3 Earnings Fall; Backs FY14 Guidance - Quick Facts

(RTTNews) - VimpelCom Ltd. (VIP), a provider of telecommunications services, Wednesday reported a plunge in its profit for the the third quarter, mainly due to one-off costs related to recent refinancing of WIND and unfavorable FOREX. Revenues were down 9 percent year-over-year. The company also confirmed its outlook for fiscal 2014. Net income attributable to VimpelCom shareholders more than halved to $104 million from $255 million last year. Basic earnings per share were down to $0.06 from $0.15 a year ago. Earnings before interest, tax, depreciation and amortization or EBITDA dropped 11 percent to $2.205 billion from $2.474 billion last year. Total operating revenue was down to $5.145 billion from $5.685 billion last year. The company's mobile customer base increased 5 million to 223.4 million. The group said it continues to expect EBITDA decline of low to mid-single digit and revenue decline of low to mid-single digit for fiscal 2014.