YAMZ's 2006 Sales Dip 15% yoy

Yasynuvastskiy Machine Building (YAMZ), Urkaine’s largest producer of coal mining equipment, saw its net sale dip 15% yoy in 2006 to USD 25.1 mln.  The company’s net income was also down roughly 35% yoy at USD 2.9 mln. Eugene Cherviachenko: In 2006, YAMZ received fewer orders from state controlled mines than we expected, as the companies got off to a slow start to their development plan. The company also saw a slight drop in its margins connected to higher steel prices, however we believe the company will rebound in 2007 as state coal mines begin putting their development programs into high gear.