For Q3 of the FY 2016/2017, the Group's unaudited consolidated net turnover was 3.77 million EUR, which is by 25%, or 0.75 million EUR, more than in Q3 of the FY 2015/2016, but by 13% less than in Q2 of this year.
The Group closed Q3 of the FY 2016/2017 with the profit of 324 thousand EUR (unaudited). The unaudited consolidated result for 9 months of the FY 2016/2017 is the profit of 1.15 million EUR, which is by 797 thousand more compared to the 353 thousand EUR profit which was the Group`s result of the 9 month period of previous FY 2015/2016.
60 % quarterly turnover was made by sales in North/Latin Americas and is by EUR 0.86 million higher than the result of the preceding quarter. In 9 month period the revenues in North/Latin Americas exceeded 53% of the total Group’s turnover. The turnover in the European and CIS region was 29% or EUR 1.09 million, which is a decrease compared to the increase in Q2, which was related to solutions tailored to specific customer needs. In the AMEA (Asia, Middle East, Africa) region the turnover was EUR 0.4 million and is equivalent to last year’s average volumes. In the respective period the products were sold to 44 countries.
For 9 months of the FY 2016/2017, the Group’s unaudited consolidated turnover was 11.9 million EUR, which is a 19% increase compared to revenues at the same period of the previous financial year.
As of the end of the period, the Group’s net cash balance was 5.4 million EUR.
During this quarter SAF Tehnika participated in several exhibitions in the United States that brought the largest US Internet Service Providers together. As well as to popularize the possibilities of engineering education SAF Tehnika participated in the Career days of Riga Technical University and the Institute of Transport and Communications. SAF Tehnika has implemented Net Promoters Score evaluation system to measure the satisfaction rate of the clients and to prevent the communication problems with clients and customers.
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, as well as searching innovative ideas for applying microwave data transmission. 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. 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 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.
CFO, Member of the Board
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