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4 Nov 2010 07:00
Dialight plc
Interim Management Statement |
4th November 2010 "Continued strong growth for Energy Efficient Lighting" |
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 2010 until 3 November 2010, in accordance with FSA Disclosure and Transparency Rule 4.3. Signals/Illumination The Board is pleased to report continuing good performance in the Signals/Illumination segment which is showing a strong revenue increase over 2009. Highlights of the segment's trading performance during the period include: ·; Sales of White lighting products into the Industrial Market show very strong growth, both against 2009 and second half of 2010 versus the first half. ·; Take-up of our new High Bay Light in both Hazardous and non- Hazardous versions is particularly encouraging as we pioneer the adoption of LED Lighting technology in a wide variety of industrial applications. ·; Good penetration of the US Telecom Tower market should see sales for White LED Strobe product almost double. ·; Growth in sales of Traffic Lights for the European market on 2009, driven by increased sales in the UK. Components The Indication market slowed a little in the second half as anticipated in our previous statement after a strong first half. The fundamentals of the business remain sound. Our electromagnetic switching product line is expected to show substantial growth in the medium term despite some temporary programme delays in the US market. Cashflow The Group maintains a strong balance sheet and cash generation is in line with expectations. Outlook Dialight's strategy for driving growth in both revenues and profits, through bringing state-of-the-art solid state lighting products to market providing solutions for demanding applications and environments, continues to support the strong performance of the Company. In the current economic environment, we are able to help our customers not only reduce their carbon footprints but enhance their profits at the same time. Based on the continued good progress of the Signals/Illumination business, and in spite of some slowing in activity levels in the Indication Components segment, the Board is confident in maintaining its positive outlook for 2010.
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For further information:
Roy Burton - Group Chief Executive, Mark Fryer- Group Finance Director, Dialight plc
Tel: +44 (0) 1638 778640
Simon Bridges - Canaccord Genuity Limited, Tel: +44 (0) 20 7050 6500
Robert Speed- Kreab Gavin Anderson, Tel: +44 (0) 20 7074 1800,
Email: dialight@kreabgavinanderson.com
Dialight plc (LSE: DIA.L)
The Group comprises the following business segments:
·; Signals/Illumination which addresses the increasing demands for Energy Efficient Lighting solutions through the use of high brightness LEDs and utilisation of a number of associated technologies. Areas of business include Traffic and Rail Signals, Obstruction Lights and Solid State Lighting products.
·; Components comprising:
(1) The indication businesses whose sales are primarily to Electronics OEMs for status indication; and
(2) Electromagnetic components which supplies smart meter disconnect switches which are used by utility companies to manage remotely electrical supply to residential and business premises.
The company is headquartered in the UK with operating locations in the UK, USA, Germany and Mexico. More information is available at www.dialight.com.
Cautionary statement
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.
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