E2V.L Regulatory News (E2V)

16 Apr 2007 07:01

e2v technologies PLC16 April 2007 e2v technologies plc 2007 Year End Trading Update e2v technologies, a specialist developer and manufacturer of high technologycomponents and sub-systems, is providing a period end trading update. Overall sales growth for the year ended 31st March 2007 has been in line withmanagement's expectations and the full year profit outcome is expected to be atthe upper end or slightly above expectations. The results to 31st March incorporate eight months of trading for the Grenoblefacility, acquired in July 2006. The integration programme was materiallycomplete at the year end. Organic growth for the Electronic Tube product group will exceed that of theSensors and Semiconductors product group, consistent with the business profileat the half year. Year end net debt is expected to be at similar levels to the half year, asanticipated. e2v technologies is hosting a site visit for analysts and investors to theCompany's Grenoble facility on the 18th April 2007. The visit will enableanalysts and investors to meet with senior management and learn more about theGrenoble operation. No new financial or trading information will be disclosed. Keith Attwood, CEO commented: "We are pleased with the performance of the groupas a whole during a period of significant change. The strong performance fromthe Grenoble acquisition, combined with organic growth from our UK operations isencouraging as we enter the new financial year with a solid order book. "Following a successful integration programme, we now need our teams to focus ondeveloping the business and generating growth from the expanded productportfolio and the enlarged distribution network. "We believe that the outlook for the new financial year remains one of continuedprogress. Our focus on operational improvements will continue, as will oursearch for suitable acquisition opportunities." Enquiries: e2v technologies plc Tel: 01245 453437Keith Attwood, Chief ExecutiveMike Hannant, Finance Director www.e2v.com Gavin Anderson & Company Tel: 020 7554 1400Keith Brookbank/Michael Turner NOTES FOR EDITORS e2v technologies plc e2v technologies is a leading designer, developer and manufacturer of specialised components and subsystems, falling within two product groups: o Electronic tubes o Sensors and Semiconductors These products enable some of the world's leading OEMs to deliver innovative systems for medical and science, aerospace and defence, and commercial and industrial applications. For the year ended 31 March 2006, e2v achieved sales of £112m and is listed on the London Stock Exchange (e2v.l). In July 2006 e2v technologies plc acquired a leading designer, manufacturer and distributor of specialised electronic components and sub-systems, based in Grenoble, France. The acquisition represents an opportunity to strengthen the Group's position as a major global provider of specialised electronic components and subsystems. e2v's products are supplied into three core market areas: o Medical & Science: Sensor technology includes imaging sensors for intra-oral and panoramic dental X-ray, mammography, life science applications and X-ray microscopy. Electronic tubes are the enabling technology behind radiotherapy cancer treatments, microwave medical therapy and high-energy physics. o Aerospace & Defence: Sensor technology includes products for military surveillance, targeting and guidance, space-based imaging and astronomy, radar, electronic warfare, and broadband data converters and microprocessors for aerospace applications. Electronic tubes provide the enabling technology behind radars, electronic countermeasures (ECM), electronic warfare and satellite communications. o Commercial & Industrial: Sensor technology includes marine radars, industrial safety sensors, automotive radars and alarms, thermal imaging cameras used by fire fighters, CCD and CMOS high resolution line scan cameras for industrial inspection. Electronic tubes provide enabling technology behind TV broadcast, satellite communications, marine radar and food & industrial processing. The overall purpose of the business is to grow sustainable shareholder valuewhilst appropriately meeting the expectations of customers, people, partners, suppliers and the wider community. e2v's vision is to create value through bright ideas in technology and materials science. The Company's mission is to place customers at the heart of the business, providing enabling products of premium quality that extend technical barriers and enhance the competitive position of our partners. e2v has approximately 1,800 employees worldwide with three UK based manufacturing sites in Chelmsford, Lincoln and High Wycombe, and one in Grenoble, France. In addition e2v has sales offices in the UK, USA, Germany, France and Hong Kong, as well as a network of distributors and representatives covering other key territories. Further information on e2v technologies plc is available from its website,www.e2v.com . This information is provided by RNS The company news service from the London Stock Exchange