REG-Dialight PLC Interim Management Statement
Date/Range: 12-NOV-2009
Short Abstract: REG-Dialight PLC Interim Management Statement
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RNS Number : 3817C
Dialight PLC
12 November 2009
Date: Thursday 12 November, 2009
DIALIGHT PLC
Interim Management Statement
Dialight plc, the UK based leader in Applied Light Emitting Diode (“LED”)
Technology, today publishes its Interim Management Statement relating to the
period from 1 July 2009 until 12 November 2009, in accordance with FSA
Disclosure and Transparency Rule 4.3.
“Trading on track for full year”
Dialight consists of two business segments:
* Signals/Illumination which includes Traffic and Rail Signals, Obstruction
Lights and Solid State Lighting
* Components comprising LED Indication Components and Electromagnetic
Disconnects (‘smart’ meter disconnect switches)
Signals/Illumination
The Board is pleased to report another good performance by the
Signals/Illumination segment which is showing a strong revenue increase over the
first half of 2009. Highlights of the trading performance are as follows:
* European traffic has made a strong recovery in the second half of the year
after a tough start to 2009 and volumes have returned to a similar level to the
second half of last year. US traffic has seen some improvement over the first
half of the current year but overall volumes are below last year due to the
exceptional performance in 2008.
* Demand for our obstruction lights in the US continues to show a
significantincrease, driven by sales of the white strobe to the
Telecommunication market together with some recovery in the wind turbine market.
* Sales of our Safesite Hazardous Location Lights continue to show growth and
lighting revenue has also increased with sales of new white lighting product to
the industrial market. Demand for architectural lighting product has stabilized
but continues at levels well below last year.
Components
In our trading statement of 27 July, we noted that there were the early signs of
recovery in the Indication market. We are pleased to report that the market
demand has shown some recovery during the third quarter of the year from a very
low base. However, there remains some uncertainty in predicting trends and we do
not expect the market to recover to 2008 levels in the short term.
Within the electromagnetic components segment, shipments have commenced under
the recently announced supply contract for the ‘smart’ switches for the US meter
market and taken with sales of the ‘smart’ switches to other meter
manufacturers, this segment will show good growth over the first half.
Gross margin
The ongoing programmes to reduce the material costs of product lines through re
design and re-engineering are resulting in higher margins.
Cashflow
The Group maintains a strong balance sheet and cash generation is in line with
expectations.
Outlook
Dialight continues to implement its strategy for driving growth through the
provision of energy efficient and environmentally friendly lighting products.
Based on the continued good progress of the Signals/Illumination segment in
revenue together with an improved margin and the stabilization of activity
levels in the Components segment, the Board is confident in maintaining its
current outlook on trading for 2009.
Contacts:
Roy Burton – Group Chief Executive
Cathy Buckley – Finance Director
Dialight PLC
Tel: 01480 447490
Simon Bridges
Canaccord Adams Limited
Tel: 020 7050 6500
Kirsten Molyneux
Kreab Gavin Anderson
Tel: 020 7074 1800
Email: dialight@kreabgavinanderson.com
Notes
This Interim Management Statement contains certain forward-looking statements
which have been made by the Directors in good faith using information available
up until the date they approved the statement. Forward-looking statements should
be regarded with caution as by their nature such statements involve risk and
uncertainties relating to events and circumstances that may occur in the future.
Actual results may differ from those expressed in such statements, depending on
the outcome of these uncertain future events.
This information is provided by RNS
The company news service from the London Stock Exchange