"Intelligent Enterprise", No. 5 (70), March 18, 2003

Not long ago, RosBusinessConsulting (http://www.rbc.ru) announced its results for 2002. The company's total earnings rose 62 percent to $27.52m and net income advanced 51 percent to $9.5m in 2002 compared to 2001. Most earnings came from increased revenues from IT services and advertising. In particular, revenues from IT services were up 82 percent and amounted to $12.97m, earnings from general-purpose software engineering more than doubled, from $3.92m in 2001 to $7.97m in 2002. Revenues from system integration services reached almost $2m, 21 percent more than in 2001.

RBC linked a rise in profits from software engineering, including offshore software engineering, to attempts of western companies to reduce expenses for IT solutions and higher activity among Russian clients who started to spend more funds on ordering software solutions. As a result, in 2002 RBC fulfilled orders for developing software products for East Line and Eurosib.

This year, RBC expects a rise in earnings by at least 25 percent. The company pins its hopes on the launch of business television RBC TV in the second quarter of 2003.