Riga, Latvia, 2015-11-04 15:17 CET (GLOBE NEWSWIRE) --
For Q1 of the FY 2015/2016, the Group’s unaudited consolidated net turnover was 3.54 million euros, which is by 11% or 0.34 million euros more than in Q1 of the FY 2014/2015 and by 9% more than in previous quarter - Q4 of the FY 2014/2015.
This year revenues of Q1, as compared to Q1 of the previous FY, rose by 37% in the European and CIS region, and more than twice in the AMEA (Asia, Middle East, Africa) region. The successful performance is based on the development of various unique customer-tailored solutions and products in the area of data transmission for long-term cooperation partners. Although revenues from North/Latin Americas were by 23% and 0.43 million euros less than the turnover in the same quarter last year, on the whole the revenue amount was equal to that of the rest 3 quarters of the previous FY.
The Group’s products were sold in 47 countries during the reporting quarter.
The Group closed Q1 of the FY 2015/2016 with the profit of 292 thousand euros (unaudited), which is by 7 thousand euros more comparing to profit generated in Q1 of the previous financial year. It should be noted that the profit of Q1 of the previous financial year was largely made by income from currency fluctuations.
The Group had a positive net cash flow during 3 months of the present FY, equaling to 385 thousand euros. As of the end of the period, the Group’s net cash balance was 4.7 million euros.
SAF Tehnika is the company with the long-term competence in development and production of microwave radios. SAF Tehnika will proceed with its work on new high-quality products for the microwave data transmission market, providing not only standardized solutions, but also product modifications in order to meet customers’ special needs. The Group is financially stable. The goal of the Company is to stabilize sales levels to ensure a positive net result in the long term. Although the result of the reporting period is positive, the Board of SAF Tehnika cannot provide certain prognosis for sales figures and operational results.
About SAF Tehnika.
„SAF Tehnika” JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004. SAF Tehnika wholly owns subsidiaries “SAF North America” LLC and “SAF Services” LLC. Both of the mentioned companies are operating from Denver, CO, USA serving North American market.
Zane Jozepa CFO, Member of the Board +371 67 046 833 zane.jozepa@saftehnika.com
