E2V.L Regulatory News (E2V)

7 Apr 2006 07:00

e2v technologies PLC07 April 2006 e2v technologies plc 2006 Year End Trading Update e2v technologies, a specialist developer and manufacturer of high-technologyelectronic components and sub-systems is providing a period end trading update. Overall we have seen a good sales performance for the year ended 31st March2006. Sensor product sales will show modest growth, as anticipated, butElectronic Tube product sales will be better than expected, due to the earlycompletion of a specific £6.1m contract to supply electronic subsystems to theUK Ministry of Defence. Accordingly, the full year outcome is expected to be at the upper end orslightly above expectations. The company has continued to focus on operational cost improvements resulting insome additional severance costs in the second half of the year. Strong cash flows have enabled us to significantly reduce net debt at the yearend, even after the acquisition of Gresham Scientific Instruments Limited for£5.1m of cash in the first half. Keith Attwood, CEO said: "In our first full financial year since flotation wehave continued to make good progress organically and have also completed ourfirst acquisition. Our strong order book and continued focus on operationalimprovements lead us to believe the outlook is for continued progress, despitethe impact of increasing input costs of energy and materials. We continue totarget complementary "bolt on" acquisition opportunities, as well as some moresignificant opportunities, in both Europe and North America." Enquiries: e2v technologies plc Tel: 01245 453437Keith Attwood, Chief ExecutiveMike Hannant, Finance Directorwww.e2v.com Gavin Anderson & Company Tel: 0207 554 1400Fergus Wylie/Keith Brookbank NOTES FOR EDITORS: e2v technologies plc e2v technologies delivers the radio frequency and sensing technology thatenables some of the world's most innovative medical and science, aerospace anddefence, and industrial and commercial systems. For the year ended 31 March2005, e2v achieved sales of £100.5m. It is listed on the London Stock Exchange(e2v.l). e2v is a leading developer and manufacturer of high-technology electroniccomponents and subsystems, which it supplies into three core areas: •Medical & Science : Sensor technology includes Dental X-ray, Mammography, life science applications and X-ray microscopy. Electronic Tubes are the enabling technology behind radiotherapy cancer treatments and high-energy physics. •Aerospace & Defence : Sensor technology includes military surveillance, targeting and guidance; space-based imaging and astronomy and radar & electronic warfare. Electronic tubes provide the enabling technology behind radars, electronic countermeasures (ECM), electronic warfare and satellite communications. •Commercial & Industrial : Sensor technology includes marine radars, industrial safety sensors, automotive radars and alarms and thermal imaging cameras used by fire fighters. Electronic tubes provide enabling technology behind TV broadcast, satellite communications, marine radar and food & industrial processing. e2v has 1,300 employees worldwide with offices in UK, USA, Germany, France,Canada and a presence in China through the China Britain Business Council, aswell as a network of distributors 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