The Company’s non-audited net sales for the second quarter of financial year 2011/12 were 2.44 million LVL (3.47 million EUR), showing a 18% decrease comparing to the respective reporting quarter of the previous financial year. This directly reflects the scarcity of financing options for telecommunications development projects globally as well as the trend of overall price decrease due to the growing competition in the market. 
The Company’s 2011/12 financial year’s 6 month unaudited net turnover was 5.33 million LVL (7.58 million EUR), which represents 87% of the revenue generated in the respective period of the previous financial year. The revenues reduced in Europe, CIS and as well as Asia, Africa and Middle East regions, whereas the Americas region has shown a significant positive trend with total 6 month turnover doubling to 2.12 million LVL (3.01 million EUR), comprising 40% of the total the Company’s turnover. Meanwhile the sales revenue from Asia, Africa and Middle East region summed up to 33%, European and CIS regions respectively 27% from the total revenue, which further illustrates the strategic importance of Americas region. Establishing a USA subsidiary SAF North America, significant investments in SAF brand and product recognition, further development of partner network, turnkey solution services introduction and SAF designed product manufacturing in Brazil are the activities that are expected to yield returns in the future.
Company ended the second quarter of 2011/12 financial year with a net profit of 67 527 LVL (96 083 EUR), which is by 226 thousand LVL (322 thousand EUR), or four times lower than in respective quarter of previous financial year. 
Company’s’ unaudited net profit for 2011/12 financial year’s 6 months was 545 146 LVL (775 673 EUR).
SAF is financially stable and capable to withstand economic turmoil in the situation when others fail. The results in the near future still mainly depend on how successfully the company reaches the customers which are interested in its particular product proposal. The goal of the Company is to continue focus on development of next generation wireless data transmission devices, strengthening local presence in target markets, customer satisfaction and provide an excellent product quality which is already recognized in the market. This strategy together with right product mix and services will sustain company long-term operations and drive future development more independently for general conditions in the market segment.
Due to uncertainty in the global financial situation and telecommunication market the Board of the Company cannot provide certain prognosis for sales figures and operational results despite positive results of the reporting quarter.
 

Additional_information:
Aira Loite
Member of the board, COO
Phone: +371 67046833
Mailto: Aira.Loite@saftehnika.com