20 Apr 2017 07:00
20 April 2017
LightwaveRF plc
(AIM: LWRF)
AGM Statement
LightwaveRF plc ("LightwaveRF" or the "Company"), the proprietary IOT and connected devices specialist will hold its AGM at 11.00 a.m. this morning at the offices of LightwaveRF, Birmingham Science Park Aston, Faraday Wharf, Holt Street, Birmingham B7 4BB.
At the AGM, LightwaveRF Chairman, Barry Gamble will make the following statement:
"LightwaveRF's UK distribution capability has been significantly improved with more regular orders now being received. The Company has also strengthened its customer support team to provide advice and guidance on LightwaveRF smart home solutions with more devices being sold directly to consumers.
"As a result of this, the Company expects revenue for the six months ended 31 March 2017 to exceed £1.1 million, up by about 60% compared to the same period last year. In addition, the current order book for delivery in the second half of the year is already £1.6 million.
"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 LightwaveRF Alexa skill for the Amazon Echo product range continues to receive best in class reviews; a testament to our technology and product capability. The Company recognises 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.
"Our newly appointed CEO, Andrew Pearson, has made good progress so far in re-focusing the Company and is actively developing his strategy.
"The Company will provide a further update when it issues its interim results for the six months ended 31 March 2017, which it expects to release on Friday 19 May 2017."
Contacts: | |
LightwaveRF plc | www.lightwaveRF.com |
Andrew Pearson, CEO | +44 (0) 121 250 3625 |
Kevin Edwards, CFO | |
WH Ireland Limited | www.whirelandplc.com |
Mike Coe/Ed Allsopp (Corporate Finance) | +44 (0) 117 945 3470 |
Jasper Berry (Institutional Sales) | +44 (0) 20 7220 1666 |
Yellow Jersey PR | www.yellowjerseypr.com |
Charles Goodwin / Katie Bairsto | +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 offers a market leading proprietary Internet of Things ("IoT") platform together with applications and connected devices, which provide fully integrated remote control and monitoring of light, heat, power and security. 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/