Dialight Regulatory News (DIA)

7 May 2008 11:30

Dialight PLC07 May 2008 Date: Embargoed until 11.30 am, Wednesday 7 May 2008 Contacts: Roy Burton - Group Chief Executive Cathy Buckley - Finance Director Dialight PLC Tel: 01480 447490 Neil Johnson Canaccord Adams Limited Tel: 020 7050 6500 Alistair Mackinnon-Musson Nicola Savage Hudson Sandler Tel: 020 7796 4133 Email: dialight@hspr.com DIALIGHT PLC AGM and Interim Management Statement Dialight plc, the UK based leader in Applied LED Technology, today publishes itsInterim Management Statement relating to the period from 1 January 2008. Dialight consists of two business segments:- O Signals/Illumination which includes Traffic and Rail Signals, Obstruction Lights and the new product area of Solid State Lighting O Components comprising Light Emitting Diode ("LED") Indication Components and Electromagnetic Disconnects ('smart' meter disconnect switches) Highlights • Orders for Signals/ Illumination showing continued double digit growth • Strong order intake for Meter Disconnect product • Indication Components continues to perform well • Sale of Indication Business on track • Margins stable in spite of inflationary pressure • Overall trading in line with expectations Current trading Dialight has had an encouraging start to 2008. Orders for the Signals/Illumination segment are robust and would support continued double digit growthacross each of our product lines. In particular, our European Traffic businesshas had a strong start to the year and the North American Traffic business isbenefitting from shipments of the previously announced contract for Miami DadeCounty in Florida. Sales of Obstruction Lights into the North American WindTower market continues to gain momentum. Our LED Indication product lines have shown good solid performance with orderintake at a similar rate to the second half of 2007. In spite of the talk ofrecession in the North American market, sentiment from our customers anddistributors is that business is still cautiously positive. The Dialight BLP Meter Disconnect business has had a good start with the$4,000,000 blanket order received in the first quarter from one major US metermanufacturer and production orders received from another US meter manufacturer.This segment should exhibit significant growth in the second half of 2008. While the much published price pressures on commodities have been apparent inour purchased materials, cost reduction is an ongoing activity within Dialightand in spite of those pressures, we have been able to maintain and in some casesto improve our margins. In March we announced that we would pursue the possible sale of our LEDIndication business and have commenced a formal sale process with our financialadvisors. The process is progressing in line with our intentions. In summary, Dialight has had a good start to the year and trading is in linewith expectations. The Board remains confident in the prospects for the currentyear. Notes This Interim Management Statement contains certain forward-looking statementswhich have been made by the Directors in good faith using information availableup until the date they approved the statement. Forward-looking statements shouldbe regarded with caution as by their nature such statements involve risk anduncertainties relating to events and circumstances that may occur in the future.Actual results may differ from those expressed in such statements, depending onthe outcome of these uncertain future events. This information is provided by RNS The company news service from the London Stock Exchange