Landkom ends 2008 with net revenue of USD 10.6 mln

Landkom International (LKI LN) said in a Regulatory News Release this morning that its net revenue in 2008 was USD 10.6 mln (vs. USD 1.6 mln in 2007), according to preliminary consolidated financial results. The company had a gross loss of USD 36.7 mln (vs. a positive gross profit of USD 4.4 mln in 2007) and an operating loss of USD 57.1 mln (vs. USD 1.9 mln in 2007). Last year the company said it harvested over 45 ths mt of grain, and planted 31 ths ha for harvest in 2009. Landkom said its cash position as of Dec. 31, 2008 was USD 4.2 mln, supplemented by a subsequent placement in March 2009 that raised gross proceeds of USD 6.8 mln.