At the same time, the company’s revenue dropped by 1.2% in the fourth quarter of 2011 compared to the same period of 2010 to US$114.9 million.

Net income of the company decreased by 47.8% from US$111.1 million in 2010 to US$58 million in 2011. In the fourth quarter, the figure made up US$12.5% million (-54.2%).

OIBDA made up US$231 million in 2011 (-7%) and US$60.7 million in the fourth quarter of 2011 (-2.1%).

OIBDA margin decreased from 53.3% in the fourth quarter of 2010 to 52.8% in the same period of 2011 and from 55.5% in 2010 and 52.5% in 2011.

Operating income before depreciation and amortization (OIBDA) represents operating income before depreciation and amortization. OIBDA margin is defined as OIBDA as a percentage of net revenues.

ARPU made up US$3.9 in the fourth quarter of 2011 and US$4 in 2011. Average monthly service revenue per subscriber (ARPU) is calculated by dividing service revenues for a given period, including interconnect and guest roaming fees, by the average number of our subscribers during that period and dividing by the number of months in that period.

The MOU fell from 461 minutes in the fourth quarter of 2010 to 440 minutes in the same period of 2011. The figure made up 436 minites (494 minutes in 2010).

Average monthly minutes of usage per subscriber (MOU) is calculated by dividing the total number of minutes of usage during a given period by the average number of our subscribers during the period and dividing by the number of months in that period.

SAC decreased from US$8.1 in the fourth quarter of 2010 to US$5.6 in the same period of 2011 and from US$7.2 in 2010 to US$6.7% in 2011. Subscriber acquisition cost (SAC) is total sales and marketing expenses and handset subsidies for a given period. Sales and marketing expenses include advertising expenses and commissions to dealers.

According to the MTS, the churn level made up 20.2% in the fourth quarter of 2011 and 47.9% in 2011.

The subscribers’ base of MTS Uzbekistan decreased by 6.7% to 9.3 million in 2011. The company said the decrease of the subscribers’ base is connected with change of policy on accounting of subscribers.

The capital investments of MTS in Uzbekistan totalled US$145.7 million in 2011 against US$157.9 million in 2010.