MOSCOW. Jan 30 (Interfax-AVN) - The St. Petersburg-based LOMO JSO will produce RUB1bn's (USD35m) worth of defense products in 2004, the Russian Conventional Weapons Agency press-service told Interfax-Military News Agency on Friday.
"The LOMO development forecast for 2004 is quite favorable. The total revenues are expected to equal about RUB2bn (USD70m), with civil products accounting for about RUB700m (USD24.5m), defense products for RUB1bn (USD35m), and commercial services for RUB300m (USD10.5m). The net profit is expected to total RUB10m- 20m (USD350,000-700,000)," a press-service official said.
According to him, in 2003 LOMO manufactured about RUB1.8bn's (USD63m) worth of products, with civil products accounting for RUB560m (USD19.6m), defense products for RUB890m (USD31.2m), and commercial services for RUB310m (USD10.86m). The enterprise's 2003 net profit increased five-fold y-o-y 2002 from RUB2m (USD70,000) to RUB10m (USD350,000). Exports accounted for about RUB668m (USD23.4m), with civil product exports accounting for RUB119m (USD4.17m), defense product exports for RUB549m (USD19.23m).
According to him, the variety and the amount of goods manufactured also changed in 2003. For instance, the number of control devices, spectrum equipment, and night vision devices produced decreased, while production of airfield hardware, laser equipment, telescopes, and microscopes increased.