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Trading statements

LightwaveRF revenues more than double

04 October 2017 07:46

LightwaveRF anticipates that revenue for the year ended 30 Sep to have more than doubled from £1.44m in 2016 and gross margins to have materially increased from 32.5%.

It said capital expenditure on both its Generation 2 Apple HomeKit certified product range and further product developments had increased over the year.

Additionally, investments in revenue generating activity as well as administrative expenses had increased.

But it said that even after these increases, the company expected losses before tax fto be broadly in line with 2016's £0.84m.

The company said its recently announced electrical wholesale distribution agreement with Deta Electrical was now being implemented, and its Generation 2 product range had been released.

Distribution through Apple online and in retail stores was expected to follow shortly.

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Related Company: LWRF

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