REPL::Financial Statements and Related Announcement::Full Yearly Results

Issuer & Securities

Issuer/ Manager
SARINE TECHNOLOGIES LTD.
Securities
SARINE TECHNOLOGIES LTD - IL0010927254 - U77
Stapled Security
No

Announcement Details

Announcement Title
Financial Statements and Related Announcement
Date &Time of Broadcast
27-Feb-2017 16:31:04
Status
Replacement
Announcement Sub Title
Full Yearly Results
Announcement Reference
SG170226OTHR4XNU
Submitted By (Co./ Ind. Name)
Amir J. Zolty
Designation
Company Secretary
Effective Date and Time of the event
27/02/2017 16:20:00
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)
Please find attached a modified version of Appendix 7.2 for the period ended on December 31, 2016.
The only correction made is on the "Revenues" paragraph, article 8. The corrected text is showed with uppercase letters, as follows:

The Group reported revenues for the year ended December 31, 2016 of US$ 72.5 million, as compared to revenues of US$ 48.5 million for the year ended December 31, 2015. The Group reported revenues in Q4 2016 of US$ 18.9 million, as compared to revenues of US$ 12.4 million in Q4 2015, and as compared to revenues in Q3 2016 of US$ 17.3 million. The increase in revenues on a year-over-year basis in all geographies, but mainly in India, was primarily due to increased diamond manufacturing equipment sales, including GalaxyTM family systems, as well as due to increased recurring revenues, as noted above. YEAR-OVER-YEAR SALES IN FY2016 OF CAPITAL EQUIPMENT INCREASED BY APPROXIMATELY 77%, WHILE RECURRING REVENUES ALSO INCREASED BY SOME 20%, AS COMPARED TO FY2015. On a quarterly sequential basis, the increase in revenue was primarily due to higher diamond manufacturing equipment sales, offset somewhat by lower recurring revenues, which resulted, characteristically of Q4, from the Diwali holiday in India.

The other attachments (as well as all other content of Appendix 7.2) remain unchanged.

Additional Details

For Financial Period Ended
31/12/2016

Attachments

Appendix_7.2_FY_2016.pdf
Total size =622K

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26/02/2017 21:59:33