Expect 60%Rise in revenue18 May 2017 18:31
LONDON (Alliance News) - LightwaveRF PLC said on Thursday it expects to report a significant increase in revenue for its first half ended in March.
Chairman Barry Gamble said in a statement that the 'Internet-of-Things' and connected devices specialist is estimating its first half-year revenue will exceed GBP1.1 million, a 60% increase from GBP804,000 reported in the same period last year.
The current order book for delivery in the second half year has already reached GBP1.6 million.
The reason for the significant growth is LightwaveRF's improved distribution capability through an increase in regular orders, and a strengthened customer support team.
"After the planned increases in development and marketing spend, the loss for the first half is expected to be about the same as the equivalent period last year. We are also continuing the capital investment in our cloud platform. The company recognizes that voice control has become an important growth driver for the smart home market, so the launch of voice control by other platforms should provide us with further integration and sales opportunities," Gamble added.
20th April 2017