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SAF: SAF Tehnika Consolidated Interim Report for Q1 of financial year 2012/13 (1st July 2012 – 30th September 2012)

Spekuliantai.lt | 2012-11-07 | NASDAQ OMX biržų naujienos | perskaitė: 1272
Raktiniai žodžiai: SAF Tehnika, SAF
SAF: SAF Tehnika Consolidated Interim Report for Q1 of financial year 2012/13 (1st July 2012 – 30th September 2012)

SAF Tehnika Quarterly report 07.11.2012

SAF Tehnika Consolidated Interim Report for Q1 of financial year 2012/13 (1st
July 2012 – 30th September 2012)

Riga, Latvia, 2012-11-07 08:21 CET (GLOBE NEWSWIRE) -- SAF Tehnika's (further
Group) non-audited net sales for the first quarter of financial year 2012/13
were 1.92 million LVL (2.73 million EUR), dropping by approximately one third
compared to the first quarter of the previous financial year and also
decreasing 11% from the previous reporting quarter of the current calendar year
(Q4 FY 2011/12). The financial results can be attributed to the low industry’s
activity during the previous and current reporting period as well as fierce
price competition in the market with heavy product and business promotion
investments made by most of the market players.
The Asia, Middle East and African regions showed recovering signs posting an
11% increase from the previous reporting quarter of the current calendar year,
however still reaching only 58% from the sales the Group enjoyed on the
respective quarter of the previous financial year. Consequently the region
contributed significantly (27%) to the total turnover generated during the
reporting quarter.
Although the European, CIS regions regular sales remained stable, due to lack
of mid-to-large scale projects the year-to-year turnover decreased 14% or 0.09
million LVL (0.13 million EUR) meanwhile the general region’s industry
inactivity during the summer period forced the turnover down by 48% compared to
the previous reporting quarter.
The sound position established in the Americas region where further invigorated
as the Group continued active marketing activities and implemented specialized
product promotions to re-vitalize the sales of CFIP Lumina products along with
the already active sales of FreeMile product line. Consequently the sales
increased by 43% or 0.25 million LVL (0.36 million EUR) compared to the
previous reporting quarter of the current calendar year.
Unfavorable USD to LVL, foreign exchange rates made a negative impact on the
reporting quarter’s profits. By implementing a strategy of increasing footprint
and local presence in specific target markets, the Group saw an increase in
both marketing and operating expenses.
The Group ended first quarter of 2012/13 financial year with a net loss of 120
thousand LVL (171 thousand EUR), which represents a decrease by 598 thousand
LVL (851 thousand EUR) when compared to respective quarter of previous
financial year where company posted profit.
The Group is constantly progressing with ongoing research and development
projects, designing next generation wireless data transmission devices. Further
product launches are expected to be announced on the first half of 2013.
Meanwhile company retains its focus on customizing existing solutions to better
suit specific niche microwave radio customer requirements and considers
offering additional network structure and performance consultations as well as
managed services. Product quality, production efficiency and excellent client
support will be centre of attention.
SAF remains financially stable and capable to withstand periods of lower
business activity. Meanwhile the further company’s sales results largely depend
on external factors such as availability of production components, financing
allocation in customer’s organization, and overall political and economical
state in specific regions and markets, therefore the Board of the Group would
like to avoid being specific in predictions of sales and financial result
projections.

Additional information:
Aira Loite
Member of the board, COO
Phone: +371 67046833
Mailto: [email protected]


1. 3M FY12_13_SAF_results ENG_v2.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=409088)

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