SAF Tehnika JSC non-audited financial results of FY 2010/11 for Q3 and 9 months
SAF Tehnika's non-audited net sales for the third quarter of financial year 2010/11 were 2.77 million LVL (3.94 million EUR) reaching the same sales result compared with the third quarter of the previous financial year.
The company’s non-audited net sales for 9 months of the financial year 2010/11 were 8.90 million LVL (12.66 million EUR) representing a year-on-year increase of 37%. Sales in the Asia Pacific, Middle East and Africa represented the largest part - 40% of 9 months revenues although it was by 354 thousand LVL (504 thousand EUR) or 9% less than in 9 months of previous financial year. The sales decrease in the Asia Pacific, Middle East and Africa was compensated by results in other regions - sales increased by 125% or 1.8 million LVL (2.6 million EUR) in CIS and Europe region and a 86% increase was recorded in the Americas amounting an increase by 945 thousand LVL (1.35 million EUR).
The net profit of SAF Tehnika for the third quarter of financial year 2010/11 was 318 thousand LVL (452 thousand EUR) being by 48% less compared with the third quarter of the previous financial year, but by 8% more than the previous reporting quarter of this financial year.
The net profit of SAF Tehnika for the 9 months of financial year 2010/11 was 888 thousand LVL (1.26 million EUR) which is by 366% or 645 thousand LVL (918 thousand EUR) better than the result for the 9 months of financial year 2009/10.
The beginning of 2011 showed that the majority of microwave vendors are shifting towards a full outdoor solution to meet the growing demand for total network cost reduction. In this situation, the Company benefits as the one of the pioneers, due to the accumulated know-how and vast experience with full outdoor radio technology. General economic recovery as well as consolidation of telecommunication equipment vendors are providing new opportunities for SAF Tehnika as independent and stable market player, shown by increasing growth of sales this year. To allocate the required resources to maintaining successful development, SAF will move from the regional approach towards country based operations. Joint venture foundation in Saudi Arabia is supposed to be followed by another foundation in other countries in the next quarters. SAF has also an opportunity to enter new customer segments with our latest products such as CFIP Marathon and SAF FreeMile, thus enhancing SAF brand awareness as well as increasing the Company’s competitiveness.
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