Bloomberg News

TEO First-Quarter Profit Drops 2% on Increased Operating Costs

April 17, 2012

AB TEO LT, Lithuania’s biggest communications company, said profit fell 2 percent in the first quarter from a year earlier amid increased operating expenses for one-time items.

Net income declined to 37.15 million litai ($14.13 million) from 37.73 million litai, the Vilnius-based company said in a statement to the stock exchange today. Sales rose 2.5 percent to 190.49 million litai.

To contact the reporter on this story: Milda Seputyte in Vilnius at

To contact the editor responsible for this story: Balazs Penz at

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