Power Machines posts RAS $5.08mln net loss in 1H06

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MOSCOW, July 28 (RIA Novosti) - Power Machines (Silovye Mashiny) [RTS: SILM] said Friday its net loss calculated to Russian Accounting Standards totaled 136.7 million rubles ($5.08 million) in the first half of 2006 against a net profit of 301.502 million rubles ($11.2 million) in the same period last year.

Russia's leading heavy machinery manufacturer said its net loss had been 139.117 million rubles ($5.2 million) in the second quarter of the year, whereas January-March had seen 2.388 million rubles (about $88,700) in net profit.

Power Machines, which produces and supplies equipment for hydro, steam, gas and nuclear power plants, said long-term contracts in engineering and supplies of equipment to new outlets had affected its financial indicators.

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