Russia's Lipetsk Iron Works (Svobodny Sokol) has stated that in Q1 this year its net loss amounted to more than Ruble 252 million ($8.97 million), four times more than in the same period of last year, but down seven percent compared to Q4 2010. The company's revenues for the first quarter decreased by 29 percent year on year to Ruble 1.01 billion ($36 million).
In 2010, Svobodny Sokol had posted a net loss of Ruble 406 million ($14.45 million), while its revenues had amounted to RUB 6.2 billion ($0.22 billion).