Filtronic Share News (FTC)

Filtronic, which designs and manufactures electronic products for the wireless telecoms infrastructure market, has cheered investors after saying it expects group full year revenue and profits will exceed market expectations. Revenue for the period is expected to be in the region of £38.5m, driven by good progress in the Wireless division, and an on-target financial performance in Broadband. This was despite the Broadband division suffering a delay to the transition of production volumes on long-term customer programmes in millimetre wave and defence products. The Wireless division reported good progress with the LTE/4G mitigation filters, saying this drove the fourth quarter performance. Sales began in March and deliveries progressed in line with expectations, it said, adding that although the "exact timing and mix of these filter sales to the year-end remains difficult to forecast", it anticipates that current market forecasts for Wireless turnover and profit will be exceeded.The share price rose 15.24% to 60.50p by 11:35 Thursday. NR