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By LSE RNS

RNS Number : 6104S
LightwaveRF PLC
04 October 2017
 

4 October 2017

 

 

 

LightwaveRF plc

 

(AIM: LWRF)

 

Trading Update

 

 

 

LightwaveRF plc ("LightwaveRF" or the "Company"), the leading smart home solutions provider, announces a trading update for the financial year ended 30 September 2017.

 

The Company anticipates that revenue will have more than doubled from the prior year (2016: £1.44m).  Gross margin is also expected to have materially increased (2016: 32.5%).

 

Capital expenditure on both the Company's Generation 2 Apple HomeKit certified product range and further product developments has increased over the year.  Additionally, investments in revenue generating activity as well as administrative expenses have increased.  Even after these increases, the Company expects losses before tax for the year ended 30 September 2017 to be broadly in line with those of the prior year (2016: loss of £0.84m).

 

The Company's recently announced electrical wholesale distribution agreement with Deta Electrical is now being implemented, and its Generation 2 product range has been released.  Distribution through Apple online and in retail stores is expected to follow shortly.

 

The Company anticipates that its final results for the year ended 30 September 2017 will be released in early December 2017.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For further information:

 

 

LightwaveRF plc

Andrew Pearson, CEO

Kevin Edwards, CFO

www.lightwaveRF.com

+44 (0) 121 250 3625

 

Stockdale Securities Limited

Tom Griffiths/Edward Thomas                                            

www.stockdalesecurities.com

+44 (0) 20 7601 6100

 

Yellow Jersey

Charles Goodwin/Abena Affum/Katie Bairsto

www.yellowjerseypr.com

+44 (0) 7747 788 221

 

About LightwaveRF

 

LightwaveRF plc ("LightwaveRF" or the "Company") pioneered smart home automation with the introduction of the market's first Internet enabled devices in 2008.  Today the Company markets a complete smart home system for lighting, heating, power and security.

 

LightwaveRF offers a cloud platform and an extensive range of retrofitted LightwaveRF designed and manufactured sockets, dimmers, relays, thermostats, heating, energy, sensing, monitoring and control devices.  These devices are operated by conventional manual control, handheld remote, smartphone and tablet based apps.  The LightwaveRF system can also be operated using Google Assistant and Amazon Alexa voice control, is Apple HomeKit compatible and provides users with dashboards to manage their smart home.

 

We are dedicated to making everyone's lives easier and more fulfilled through world leading smart home technology.

                                                        

For further information and to sign up for investor news alerts please visit:

www.lightwaverf.com/corporate/

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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