Teksts
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SAF Tehnika's (further Group) non-audited net sales for the
second quarter of financial year 2012/13 were 2.69 million LVL
(3.83 million EUR), increasing by almost 10% compared to the second
quarter of the previous financial year at the same time posting an
40% increase from the previous reporting quarter of the current
financial year (Q1 FY 2012/13). The financial results reflect
Groups ability to maintain regular sales activities together with
acquiring new mid-to-large size projects.
Asia, Middle East and Africa region continued to show
improved results with revenue growing by 25% or 0.13 million LVL
(0.2 million EUR) from the previous reporting quarter of the
current financial year, meanwhile also showing a 21% year-to-year
sales improvement. Consequently the regions strengthened its
strategic importance by contributing 25% from the total
turnover.
As the European, CIS region regained market activity the sales in
the region grew by 60% against Q1 FY 2012/13 however still not
reaching the previous average levels Group generated in the
previous reporting quarters with year-to-year turnover decreasing
by 19% or 0.21 million LVL (0.31 million EUR).
The Americas region which already previously proved to be a
strategic region continued to grow both for CFIP Lumina product
sales as well as further expanding FreeMile product line posting a
combined growth of 36% or 0.3 million LVL (0.43 million EUR)
compared to the previous reporting quarter of the current financial
year. Consequently the region retained a 42% turnover share from
the total group’s turnover of the reporting quarter.
The periods’ financial results were directly affected by an
increase in operating costs. Due to change in government’s
conditions for financing development projects for competence
centers the Group decided to suspend the ongoing development
projects in “LEO Petniecibas Centrs” and consequently will have to
absorb additional development costs amounting to 72 thousand LVL
(102 thousand EUR). Increased expense related to sales and
marketing activities also affected the bottom line. Furthermore,
the Group suffered from unfavorable USD to LVL, foreign exchange
rates which made a negative impact on the reporting quarter’s
profits.
The Group ended second quarter of 2012/13 financial year with a net
loss of 170 thousand LVL (243 thousand EUR), which represents a
decrease by 238 thousand LVL (339 thousand EUR) when compared to
respective quarter of previous financial year where company posted
profit.
The Group’s current main focus is to progress on the ongoing
R&D projects of new generation product that will support both
the functionality of currently existing products and will be
possess additional advanced features. It is planned that the
product will be introduced to the market at the beginning of summer
2013.
The Group plans to expand in managed services field and will
sharpen its focus on niche markets and customers to ensure
development and technical support resources are channeled to key
areas.
Notwithstanding the financial results of the reporting period, the
Group remains financially stable and confident to withstand periods
of lower business activity. Due to intense competitive pressures
and general decrease in spending of businesses consuming
telecommunication equipment, the Board of the Group does not assume
any specific predictions of sales and financial results of the next
reporting periods.
Additional_information:
Aira Loite
Member of the board, COO
Phone: +371 67046833
Mailto: Aira Loite
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