Jan 09, 2017

Sarine to Maintain Growth Y-o-Y; Reports Record Sales of GalaxyTM Systems in 2016

Sarine Technologies Ltd. said yesterday that it expected revenues for Q4 2016 to be on par with -- or slightly better than -- revenues for Q4 2015 which stood at US$ 18.3 million, though final numbers were not available at the time of its announcement.

Sarine was reporting the sales its GalaxyTM systems. The Company said that it delivered a record 24 GalaxyTM family systems in Q4 2016, of which 15 were of the MeteorTM model for small stones, seven were SolarisTM systems, one was a GalaxyTM 1000 model and one was a GalaxyTM Ultra system. This was achieved as a result of an overall positive sentiment in the Indian market – which accounts for a major portion of its sales – despite the Diwali break and the demonetisation announced by the Indian Government, Sarine said. 

Total deliveries for 2016 amounted to 84 systems as against a previous record year of 48 deliveries; and the total installed base as at the end of 2016 was 299 systems.