The Company’s non-audited net sales for the third quarter of financial year 2011/12 were 2.15 million LVL (3.05 million EUR), showing a 23% decrease comparing to the respective reporting quarter of the previous financial year.
The Company’s 2011/12 financial year’s 9 month unaudited net turnover was 7.47 million LVL (10.63 million EUR), which represents a 16% year-to-year decrease. Both Europe, CIS and Asia, Africa and Middle East regions has shown a reduction in total turnover, whereas the Americas region continues to shown positive trends by showing a 33% year-to-year increase in revenue amounting 2.72 million LVL (3.87 million EUR), comprising 37% of the total the Company’s turnover. The European customers have shown continuous appreciation for quality of equipment produced in European Union and the sales from the region summed up to 34%. Meanwhile the Asia, Africa and Middle East regions respectively captured 29% from the total revenue.
Company ended the third quarter of 2011/12 financial year with a net profit of 25 thousand LVL (36 thousand EUR), which is by 293 thousand LVL (416 thousand EUR), lower than in respective quarter of previous financial year. The main reason for such decrease in profit has been the diminished volume of sales and margins earned. Meanwhile the Company’s’ unaudited net profit for the 9 months of 2011/12 financial year was 570 thousand LVL (811 thousand EUR).
A very fierce competition is experienced in the microwave segment. SAF Tehnika continues to follow the approved strategy of maintaining competitiveness through constant technology development and delivering customized solutions that directly meets the customer’s needs. SAF tehnika sees substantial business perspectives both in Brazilian as well as Arab Gulf state markets that are expected to yield returns in the near future.  The Company will continue strengthening local presence in these and other target markets, following the positive indications of such activities already performed in North American market.
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