Dialight set to beat FY forecasts

Shares of LED lighting developer Dialight shot ahead after it confirmed 2010 results are expected to exceed market expectations as demand for its products increases.The group saw continued strong progress in its Signals/Illumination business, in particular in Solid State Lighting. The group also completed its acquisition of 75% of Lightday Investments its Australian distributor of ultra efficient lighting products. "This company will trade as Dialight ILS and will serve the large industrial / hazardous/mining sector in Australia and further support the group's thrust into the industrial and hazardous lighting market with its ultra efficient lighting products," Dialight explained.Commenting on its overall progress and outlook, Dialight added, "The board's continued confidence in the group's prospects is supported by the strong performance in 2010, the current level of order intake for its Signals/ Illumination business and by its accelerating growth in ultra efficient lighting." Dialight