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Interim Management Statement - Amendment

18 May 2011 15:50

RNS Number : 8598G
Vislink PLC
18 May 2011
 



 

Vislink plc

 

Correction Announcement: Interim Management Statement

 

 

The following amendment has been made to the Interim Management Statement announcement released today 18 May 2011 at 07.00 under RNS No 7880G.

The date regarding John Hawkins assuming the role of interim CEO has now been amended from 1 April 2010 to 1 April 2011

All other details remain unchanged.

 

The full amended text is shown below.

 

Vislink plc

Interim Management Statement

18 May 2011

 

Vislink plc ("The Group"), the global technology business specialising in secure communications products and services for the News & Entertainment and Law Enforcement & Public Safety markets, today publishes a trading update in respect of the financial period ending 17 May 2011.

 

The Group traded in line with expectations for the quarter ended 31 March 2011. We have seen order intake growth compared to the first quarter of 2010; this has been led by increased demand for our broadcast products in Asia and South America, which remain important strategic markets for the Group. The previously announced cost reduction programme has assisted in reducing total operating costs for the business by almost 20% compared to the first quarter of 2010. Additionally margins are improving.

 

The Group held net cash of £16.7 million at 31 March 2011 (31 December 2010: net cash of £22.2 million). Since 31 March the Group has returned £5.0 million of cash to shareholders through its Tender Offer and received the remaining £2.9 million of the consideration from the sale of Hernis.

 

John Hawkins, who assumed the role of interim CEO on 1 April 2011, is undertaking a full review of the business that is focused on returning the Group to profitable growth by the end of 2011. This review will include an assessment of growth opportunities and technology drivers.

 

The Board anticipates that the outcome for the first half of the year will be a trading loss albeit below that of the first half of 2010. The Group expects to announce its Interim Results on 31 August 2011.

 

- ends -

 

For further information, please contact:

John Hawkins, Chief Executive and Chairman Elect +44 (0) 14 88 68 55 00

James Trumper, Group Finance Director +44 (0) 14 88 68 55 00

Charlie Jack, Hudson Sandler +44 (0) 20 77 96 41 33

 

About Vislink plc

The Vislink Group is strategically focussed on providing secure communication technologies to customers in its chosen markets. We specialise in wireless, video and IP technologies together with the supporting management systems. We have two international business units organised to serve its customers in News & Entertainment and Law Enforcement & Public Safety markets. With offices in the UK, USA, Dubai, and Singapore we employ over 200 people worldwide and have net assets in excess of £50 million. Our products include the design and manufacture of microwave radio, satellite transmission, wireless camera and marine CCTV systems; our manufacturing operations are in the UK and the USA.

 

Forward looking statements

Certain statements in this report are forward-looking. Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Because these statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. The Group undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSDKFDQQBKDAPD
Date   Source Headline
26th May 201110:15 amRNSAnnual Information Update
18th May 20113:50 pmRNSInterim Management Statement - Amendment
18th May 20111:00 pmRNSResult of AGM
18th May 20117:00 amRNSInterim Management Statement
9th May 20119:00 amRNSDirector/PDMR Shareholding
15th Apr 20113:24 pmRNSHolding(s) in Company
13th Apr 20111:42 pmRNSCompletion of Tender Offer
11th Apr 20117:00 amRNSTender Offer Result
8th Apr 201111:12 amRNSResult of Meeting
7th Apr 20114:03 pmRNSExtension of Tender Offer
23rd Mar 20117:01 amRNSTender Offer
23rd Mar 20117:00 amRNSFinal Results
8th Mar 20111:41 pmRNSNotice of Results
8th Mar 20111:36 pmRNSDirector/PDMR Shareholding
21st Feb 20117:00 amRNSDirectorate Change
10th Feb 201110:10 amRNSDirector/PDMR Shareholding
26th Jan 20117:00 amRNSUpdate
11th Jan 201110:53 amRNSDirector/PDMR Shareholding
5th Jan 20114:11 pmRNSDirectorate Change
30th Dec 20104:36 pmRNSCompletion of sale of Hernis and trading update
29th Dec 20104:14 pmRNSResult of EGM
29th Dec 201010:50 amRNSHolding(s) in Company
29th Dec 201010:45 amRNSHolding(s) in Company
8th Dec 20102:17 pmRNSPublication of Shareholder Circular
19th Nov 20107:00 amRNSDisposal and Interim Management Statement
10th Nov 201011:07 amRNSDirector/PDMR Shareholding
11th Oct 20104:16 pmRNSDirector/PDMR Shareholding
14th Sep 20107:00 amRNSVislink Announce Contract
13th Sep 201011:32 amRNSDirector/PDMR Shareholding
7th Sep 20107:00 amRNSOrder Wins and Supplier Agreement
31st Aug 20109:43 amRNSVislink announces Joint Venture in China
25th Aug 20107:00 amRNSHalf Yearly Report
9th Aug 20102:58 pmRNSDirector/PDMR Shareholding
12th Jul 20102:33 pmRNSDirector/PDMR Shareholding
8th Jul 20107:00 amRNSTrading Statement
23rd Jun 20103:19 pmRNSDirectorate Change
7th Jun 20103:59 pmRNSDirector/PDMR Shareholding
3rd Jun 20101:25 pmRNSResult of AGM
2nd Jun 20109:15 amRNSBlocklisting Interim Review
24th May 20103:52 pmRNSAnnual Information Update
21st May 20104:07 pmRNSAnnual Report and Accounts
19th May 20107:00 amRNSInterim Management Statement
6th May 20105:04 pmRNSDirector/PDMR Shareholding
15th Apr 20103:17 pmRNSDirector/PDMR Shareholding
13th Apr 20102:05 pmRNSBlocklisting Interim Review
8th Apr 20101:21 pmRNSDirector Declaration
26th Mar 201011:14 amRNSHolding(s) in Company
26th Mar 201011:12 amRNSHolding(s) in Company
24th Mar 20107:00 amRNSFinal Results
18th Mar 20101:00 pmRNSHolding(s) in Company

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