Golden Telecom Named as One of the Top-10 Fastest Growing Tech Companies in 2007
13 Dec 2007
Moscow, December 11, 2007 – Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: “GLDN”), a leading facilities-based provider of integrated telecommunications and Internet services in Russia and the Commonwealth and Independent States (“CIS”), was ranked 9th in the Top-10 list of the Fastest Growing Tech Companies of 2007 published by BusinessWeek – the world’s leading weekly business magazine. In the same ranking Golden Telecom was recognized as second behind AT&T among providers of integrated telecommunications and Internet services.
The BusinessWeek ranking combines companies by share performance, sales and profit growth, and return on equity. The ranking was introduced by the BusinessWeek in Technology section. Each company’s performance was measured in the 12 months through Nov. 15, 2007. Google, AT&T and Apple are the top three with the others being computer chip manufacturers or suppliers of components in the semiconductors industry (Varian Semiconductor Equipment, MEMC Electronic Materials, etc.)
Only two telecom companies were included in the Top-10 ranking this year: AT&T (#2) and Golden Telecom (#9). Golden Telecom is just below AT&T in SalesGrowth (Golden Telecom – 48%, AT&T – 52%). Comparing other performance indicators (TotalReturn, ProfitGain, ReturnonEquity) Golden Telecomis ahead of AT&T (Total Return: Golden Telecom – 149.9%, while AT&T – 23.9%; Profit Gain: Golden Telecom – 70%, AT&T – 52%; ReturnonEquity: Golden Telecom – 12.4%, AT&T – 9.7%)
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