Riga, 2019-02-13 15:47 CET (GLOBE NEWSWIRE) --  

Most of the quarterly turnover was made by sales in North/Latin Americas region – 57% or 2.2 million EUR. It was related to specific project realization in the region and is the highest quarterly turnover since the beginning of the previous FY.

Turnover in Europe and CIS region composes 37% or EUR 221 thousand EUR, which is equal to the result of the previous Q2.

The Group’s products were sold in 52 countries during the reporting quarter.

The Group’s unaudited consolidated turnover for the 6-month period of the FY 2018/2019 was EUR 6.96 million, which is a 7% decrease compared to the last fiscal year’s revenues in the same period. Turnover fluctuations are affected by the difference in the results of Q1.

During the reporting period, SAF Tehnika participated in trade fairs, including the US largest exhibition for wireless internet service providers (WISP) – WISPAPALOOZA in Las Vegas, as well as in the largest African technology event – AfricaCom, and in the largest technology exhibition of the Middle East, Gitex, held in Dubai, UAE.

The Group continues to explore market demand and problematic issues in order to be able to provide necessary product modifications, as well as continued investments in product development, increasingly focusing on the diversification of its product portfolio.

The Company’s goal is to stabilize sales levels to ensure a positive net result in the long term. The Board of SAF Tehnika retains caution and refrains from making certain predictions regarding future sales volumes and financial 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  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, the USA serving North American market.

         Additional information:          Zane Jozepa          CFO, Member of the Board          +371 67 046 833          zane.jozepa@saftehnika.com