Last checked at 11 Jun 2013 07:00
Embargoed for release at 0700 on Tuesday 11 June 2013
11 June 2013
Dialight plc
Trading Update
Dialight plc (LSE:DIA.L), the UK based leader in Applied Light Emitting Diode ("LED") Technology, provides the following update on trading.
As the first half of 2013 comes to a close, the Board is pleased to report that Lighting segment revenues will exceed the previously indicated growth of 50% compared to the first half of 2012 and expectations for the full year are that Lighting revenues will again exceed 50% growth.
In the Interim Management Statement, published on 25 April 2013, it was stated that the Signals segment was trading behind the first half of 2012 due to the expected run off of a large cellphone tower customer contract, high sales into the US wind market in 2012 and the delay in the award of a significant new contract for obstruction. Whilst the Group is now well positioned to take advantage of new opportunities following its decision to sell directly to the cellphone tower market, rather than through value added resellers, timing on the rollout of these new integrated system contracts remains difficult to predict. As a result these issues continue to impact the obstruction business and because of this, sales in the Signals segment are expected to be down in the first half of 2013. Despite this, the Board remains confident in the longer term recovery of the obstruction product line.
As a consequence of the above, together with the additional costs incurred in the planned expansion of investment in extra sales and production resource in the Lighting segment during the year to date, Group profit for the first half will be adversely affected. However, as the Group's financial results have, in recent years, been weighted towards the second half and some recovery in obstruction is anticipated, the Board continue to consider that the Group will deliver results broadly in line with expectations for the full year ending 31 December 2013.
The Group will publish its Half Year Results for the 6 month period ended 30 June 2013 on 22 July 2013.
For further information:
Dialight plc
Roy Burton - Group Chief Executive
Mark Fryer- Group Finance Director
Tel: +44 (0) 1638 778640
Canaccord Genuity Limited
Simon Bridges
Tel: +44 (0) 20 7523 8000
Kreab Gavin Anderson
Robert Speed
Tel: +44 (0) 20 7074 1800
Email: dialight@kreabgavinanderson.com
About Dialight plc
The Group comprises the following business segments:
Lighting which addresses the increasing demands for Energy Efficient Lighting solutions for industrial/hazardous locations;
Signals that covers Traffic, Transportation and Obstruction signals; and
Components whose sales are primarily to Electronics OEMs for status indication.
The company is headquartered in the UK with operating locations in Australia, Denmark, Germany, Japan, Malaysia, Mexico, Singapore, UAE, the UK and the USA. More information is available at www.dialight.com.
Cautionary statement
This announcement contains certain statements, statistics and projections that are or may be forward-looking. The accuracy and completeness of all such statements, including, without limitation, statements regarding the future financial position, strategy, projected costs, plans and objectives for the management of future operations of Dialight plc and its subsidiaries is not warranted or guaranteed. These statements typically contain words such as 'intends', 'expects', 'anticipated', 'estimates' and words of similar import. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Although Dialight plc believes that the expectations will prove to be correct. There are a number of factors, many of which are beyond the control of Dialight plc, which could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements.