For Q3 of the FY 2015/2016, the Group’s unaudited consolidated net turnover was 3.03 million EUR, which is by 10%, or 0.2 million EUR, more than in Q3 of the FY 2014/2015, but by 12% less than in Q2 this year.The Group closed Q3 of the FY 2015/2016 with the loss of 251 thousand EUR (unaudited).The unaudited consolidated result for 9 months of the FY 2015/2016 is the profit of 353 thousand EUR, which is by 578 thousand less, comparing to the Group’s result of 9 months of the previous FY 2014/2015 ( when the profit of 932 thousand EURwas largely made by revenues from currency fluctuations).

For Q3 of the FY 2015/2016, the Group’s unaudited consolidated net turnover was 3.03 million EUR, which is by 10%, or 0.2 million EUR, more than in Q3 of the FY 2014/2015, but by 12% less than in Q2 this year.

The major part of the turnover in Q3 (45%), or 1.35 million EUR, was made by sales in North/Latin Americas, which is by 38% less than in Q2 this year. This region’s result is by 4% worse than in Q3 last year. The European and CIS region gave 41% of the turnover in Q3. The region’s turnover increased by 35% as compared to the same quarter of the previous FY and Q2 this year. The Group’s products were sold in 47 countries during the reporting quarter.

Revenues of the reporting period were less than planned, which resulted in a negative profit before taxes and interest payments – 61 thousand EUR and the Group closed Q3 of the FY 2015/2016 with the loss of 251 thousand EUR (unaudited). The falling USD/EUR exchange rate at the end of March also gave a negative impact on the Group’s activity net result.

For 9 months of the FY 2015/2016, the Group’s unaudited consolidated turnover was 10 million EUR, which is a 4% increase compared to revenues at the same period of the previous financial year.

The unaudited consolidated result for 9 months of the FY 2015/2016 is the profit of 353 thousand EUR, which is by 578 thousand less, comparing to the Group’s result of 9 months of the previous FY 2014/2015 (the profit of 932 thousand EUR). ).  The profit of 9 months of the previous financial year was largely made by revenues from currency fluctuations – 425 thousand EUR.

The Group had a positive net cash flow during 9 months of the FY, equaling to 1.34 million EUR. As of the end of the financial year, the Group’s net cash balance was 5.6 million EUR.

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. Although the result of the reporting period is negative, the Board of SAF Tehnika maintains cautious optimism but 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 OMX 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.

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