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Lithuania’s TEO LT Says 2011 Net Income Declined l5.2 Percent

February 01, 2012

Feb. 1 (Bloomberg) -- AB TEO LT, Lithuania’s biggest communications company, said profit fell 5.2 percent in 2011 from a year earlier after sales slowed.

Net income fell to 154.5 million litai ($58.38 million), compared with 162.9 million litai in 2010, the Vilnius-based company said in a statement to the stock exchange today.

Sales fell 3.1 percent to 749.8 million litai from 773.4 million litai in in 2011 from the previous year.

--Editor: James M. Gomez

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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