SAF Tehnika JSC Consolidated Interim Report for Q4 and 12 months of financial year 2011/12 (1st July 2011 – 30th June 2012)Riga, Latvia, 2012-08-08 08:32 CEST --
SAF Tehnika's non-audited net sales for the forth quarter of financial year 2011/12 were 2.16 million LVL (3.08 million EUR), showing an 8% increase comparing to the respective reporting quarter of the previous financial year. Although the telecommunications market continues to experiences fierce price competition, the positive result can be attributed to the Company’s ability to acquire new middle scale projects along with the steady regular business in markets SAF is present.
Similar to previous reporting quarter of the current financial year Europe, CIS region continued to post the best results accounting for 51% of the sales volumes. Besides the company showed that it has established a sound position in the Americas region where sales remained at the same level as in the previous reporting quarter of FY 2011/12. The production of CFIP Lumina products in Brazil has reached planned optimal levels and it is now assured that the strategic decision of establishing the manufacturing arrangement in the perspective and protected market proves to be successful as the acquired local producer status and recognition already begins to generate increased interest in SAF products in Brazilian market.
The Company’s 2011/12 financial year’s 12 month unaudited net turnover was 9.64 million LVL (13.71 million EUR), which represents a 12% year-to-year decrease.
The Company ended fourth quarter of 2011/12 financial year with a net profit of 149 800 LVL (213 147 EUR), which represents an improvement by 237 048 thousand LVL (337 290 thousand EUR) when compared to respective quarter of previous financial year where company posted loss. Meanwhile the Company’s’ unaudited consolidated net profit for the 12 months of 2011/12 financial year was 719 927 LVL (1 024 364 EUR).
The general strategy of SAF Tehnika is not changing, the Company is constantly progressing with ongoing research and development projects, concentrating both on designing next generation wireless data transmission devices, as well as customizing existing solutions to better suit specific niche microwave radio customer requirements.
Although the market outlook is mostly neutral, due to continuous uncertainty in the global financial situation and telecommunication market the Board of the Company 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: Aira.Loite@saftehnika.com
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