SAF Tehnika reports non-audited consolidated EUR 3.46 million net sales of for the fourth quarter of financial year 2013/14

Riga, Latvia, 20-8-2014 — /EuropaWire/ — The SAF Tehnika’s non-audited consolidated net sales for the fourth quarter of financial year 2013/14 were 3.46 million EUR, increasing by 4% or 0.12 million EUR compared to the fourth quarter of the previous financial year and being by 1.14 million EUR more than sales in the previous quarter – Q3 of FY 2013/2014. This was the best quarter in terms of sales for the reporting financial year.

The consolidated non-audited net sales for the 12 months of the financial year 2013/14 were 12.03 million EUR representing a year-on-year decrease of 9.86%.  Europe and CIS region sales were by 2% higher than previous year, but this increase did not compensate 34% decrease in sales in Asia, Middle East and Africa countries where competition in the wireless backhaul equipment market remains fierce and vendors are squeezed by price wars. Americas result was by 0.3 million or 6% worse than year before.

The consolidated non-audited net profit of the SAF Tehnika for the fourth quarter of 2013/14 financial year was 699 thousand EUR, being by 678 thousand EUR more than for the quarter year before.

The non- audited consolidated net profit for the 12 months of 2013/14 financial year was 119 thousand EUR (last year’s net profit  21 thousand EUR).

SAF Tehnika is the company with the long-term competence in the market niche of microwave radio, capable to deliver excellent quality products for general market and differentiating developing customer tailored solutions. The SAF Tehnika is financially stable and capable to withstand economic turmoil in the situation when others fail. The task for SAF Tehnika is to continue development of next generation wireless data transmission devices with focus on functionality, product cost reduction, customer satisfaction and efficient production and internal operations. The goal is to regain sales levels, which ensures positive net result in a long-term. Due to intense competitive pressure, the Board of the SAF Tehnika cannot provide certain prognosis for sales figures and operational results despite positive results of the reporting quarter.

On June 30, 2014 the SAF Tehnika group employed 170 people.

Attached: SAF Tehnika Consolidated Interim Report for 12 months and Q4 of financial year 2013/14

Additional information:
Aira Loite
COO, Member of the Board
+371 67 046 833
Aira.Loite@saftehnika.com