Riga, Latvia, 2014-05-14 08:05 CEST (GLOBE NEWSWIRE) -- The “SAF Tehnika” Group’s non-audited net sales for the third quarter of financial year 2013/14 were 2.3 million EUR, decreasing by 37% or 1.35 million EUR compared to the third quarter of the previous financial year and being by 19% lower than sales in the previous quarter – Q2 of FY 2013/2014. The Group’s consolidated non-audited net sales for the 9 months of the financial year 2013/14 were 8.56 million EUR representing a year-on-year decrease of 16%.
The consolidated net loss of the Group for the third quarter of 2013/14 financial year was -353 thousand EUR. The consolidated net loss of the Group for the 9 months of 2013/14 financial year was -580 thousand EUR.
Even though there is clear slowdown on the market in terms of microwave radios consumed to backhaul traffic in mobile/cellular networks - in SAF’s opinion other segments on the market do continue to enjoy period steady development. The trend of growing capacity demands is expanding from developed markets in Europe and USA into other regions at increasing pace. Thus the Group is cautiously optimistic about growth near to midterm prospects on the radio market.
The main task for the Group is to regain previous sales levels and positive net result. The Group will continue to develop Integra product line and will focus on specific niche products and solutions with the goal to satisfy ever increasing demand for efficient, qualitative, price attractive, high capacity data transmission products in the wide frequency range. 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, the Board of the Group does not assume any specific predictions of sales and financial results of the next reporting periods.
COO, Member of the Board
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