E2V.L Share News (E2V)

Electronic components supplier e2v has been hit by serious industrial strife at its Grenoble facility, which is materially restricting output. It anticipates that this will reduce turnover by c£7m in the current quarter. That will significantly reduce group profitability.This is happening in the middle of a restructuring of the business. The Lincoln factory has been closed and manufacturing is being relocated to Chelmsford. The restructuring of the Grenoble factory is proving more difficult. The strategy was to potentially close the Grenoble imaging products facility and cut the costs of the other operations on the site. Net debt was £52.4m at the end of 2009, following the rights issue and placing at 70p a share at the end of last year that raised £55.8m gross. The share price is well below that price. Shares in NXT have recovered most of last Friday's loss following investor reflection on the flat panel loudspeaker developer's results and £1m fund raising at 13p a share. Revenue fell 52% to £1m from £2.1m in 2008, which had included a one-off licence fee of £1.2m from Nissha Printing. A lack of promotional activity due to the recession had royalties down 32% at £434,000, while licence and consulting revenue slumped 61% to £573,000. NXT reported an interim loss before tax of £855,000 versus a £280,000 profit in 2008.New product launches should boost the second half performance. FTSE TechMARK - RisersPace (PIC) 183.40p +4.80%Meggitt (MGGT) 289.00p +4.18%Vislink (VLK) 24.75p +3.13%Trafficmaster (TFC) 31.00p +2.48%NXT (NTX) 14.25p +1.79%Anite Group (AIE) 33.00p +1.54%Vectura Group (VEC) 64.75p +1.17%GB Group (GBG) 22.75p +1.11%Wolfson Microelectronics (WLF) 144.50p +0.87%Xaar (XAR) 84.00p +0.60%FTSE TechMARK - FallersE2V Technologies (E2V) 40.00p -15.34%Phoenix IT Group (PNX) 273.00p -5.54%Puricore (PURI) 11.25p -4.44%Emblaze (BLZ) 41.75p -4.02%Alphameric (ALM) 28.00p -2.61%RM Group (RM.) 170.00p -2.30%Oxford Biomedica (OXB) 10.75p -2.27%Phytopharm (PYM) 11.75p -2.08%Morse (MOR) 39.50p -1.86%Corin Group (CRG) 55.50p -1.77%