TIDMLWRF

RNS Number : 4567F

LightwaveRF PLC

15 July 2019

15 July 2019

LightwaveRF plc

(AIM: LWRF)

Trading Update

LightwaveRF plc ("LightwaveRF", "Lightwave" or the "Company"), the leading smart home solutions provider, announces the following trading update for the three months ended 30 June 2019, being the third quarter of its financial year ending 30 September 2019 ("Q3 2019").

-- Revenue in Q3 2019 increased by 67% to GBP1.27 million compared with the same period last year (Q3 2018: GBP0.76 million)

-- Revenue for the first three quarters of the financial year increased by 98% to GBP3.77 million (2018: GBP1.90 million)

   --    New European distribution agreement with Tech Data and GBP500,000 first order 
   --    Lightwave compatible Google smart speakers now being marketed

Jason Elliott, Chief Executive of Lightwave, commented:

"Since I joined the Company a year ago, Lightwave has made considerable progress. As well as continuing the strong sales growth, we now have in place a number of further initiatives to maintain this momentum. The recently announced Tech Data distribution agreement for Europe and joint marketing with Google continue to position the Company for its full year revenue to more than double last year's GBP2.8 million."

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

For further information:

 
 LightwaveRF plc               www.lightwaveRF.com 
  Jason Elliott, CEO            +44 (0) 121 250 3625 
  Kevin Edwards, CFO 
 Shore Capital                 www.shorecap.com 
  Tom Griffiths/David Coaten    +44 (0) 207 408 4090 
                              ----------------------- 
 Yellow Jersey PR              www.yellowjerseypr.com 
  Charles Goodwin               +44 (0) 7747 788 221 
  Annabel Atkins 
                              -----------------------

About LightwaveRF

LightwaveRF plc ("Lightwave") is the UK's only fully integrated home automation company.

New customers typically buy a starter pack of Link Plus hub and smart dimmer which has Apple HomeKit compatibility, 2-way communication and built-in energy monitoring. Later adding other easy to install devices from the Lightwave range enables further in-home control, monitoring and automation of lighting, heating and power.

Devices may be operated manually, by smartphone or tablet-based apps and also through Google Assistant and Amazon Alexa voice control.

Leading tech industry publication 9to5 Mac describes Lightwave as "the best UK HomeKit solution for smart lighting".

For further information and "Newsletter sign up", please visit:

www.lightwaverf.com/corporate/

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END

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July 15, 2019 02:00 ET (06:00 GMT)

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