Turboatom’s Top Line Rises 76.4% yoy in 1Q08

Turboatom (TATM: BUY) increased net revenue in 1Q08 by 76.4% yoy to USD 22.9 mln, the company said yesterday. Net income surged more than fourfold yoy to USD 5.4 mln. Inna Perepelytsya: We forecast the company to maintain this growth rate and increase sales to USD 174 mln and net income to USD 32.8 mln by the end of the year. We reiterate our BUY recommendation on the stock.