Last checked at 23 Apr 2013 07:00
Vislink plc
Interim Management Statement
23 April 2013
Vislink plc (the "Group"), the global technology business specialising in high performance wireless communications products and services for the broadcast and surveillance markets, today publishes a trading update and Interim Management Statement in respect of the financial period from 1 January to 23 April 2013, being the date of this announcement.
Trading
Order intake in the first quarter was £13.3m, in line with last year's order intake of £13.4m. On a constant currency basis Q1 order intake would have been 2% down on last year in this period. The Group received a 3-year contract as Official RF Equipment Supplier for the 'MOTO GP' to Dorna Sports S.L. who hold the exclusive rights to the FIM Road Racing World Championship Grand Prix 'MOTO GP'. The Group recently exhibited its evolved product range at the NAB (National Association of Broadcasters) conference and is pleased to announce that it received a number of orders for its new LiveGear cellular product.
Capital Markets Event
Today Vislink is hosting a Capital Markets event in London. Presentations and demonstrations will be given by Vislink's senior management team led by Executive Chairman, John Hawkins. The event will include live video demonstrations and showcase Jorge Lorenzo's FIM World Championship winning Yamaha MotoGP motorcycle with Vislink's on-board camera technology.
The event will set out how the Group aims to achieve its financial goal of profitable growth to £80m of annualised revenue by the end of 2014 with a 10% operating profit and outline the growth drivers and opportunities in both its Broadcast and Surveillance markets.
John Varney, a non-executive director of Vislink and former BBC Global Chief Technology Officer and Director of Technology and Chief Technology Officer for Granada, will also be in attendance and will present the key challenges facing broadcasters in 2013, and the impact of viewing content of multiple consumer devices.
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For further information on 23 April 2013, please contact:
John Hawkins, Executive Chairman | +44 (0) 14 88 68 55 00 |
Ian Davies, Group Finance Director | +44 (0) 14 88 68 55 00 |
Charlie Jack / Katie Matthews Hudson Sandler | +44 (0) 20 77 96 41 33 |
Shaun Dobson N+1 Singer | +44 (0) 20 74 96 30 00 |
About Vislink plc
The Vislink Group is a global technology business specialising in the collection and delivery of high quality video and associated data from the field to the point of usage. Vislink provides solutions to the broadcast market for the collection of live news, sport and entertainment events and to the surveillance market including defence, law enforcement and public safety customers. With offices in the UK, USA, Australia, UAE, South Africa and Singapore we employ over 250 people worldwide and have net assets of £50m. Our solutions include the design and manufacture of microwave radio, satellite transmission and wireless camera systems; our manufacturing operations are in the UK and the USA.
The Company is fully listed on the London Stock Exchange (LSE:VLK). For further information, visit www.vislink.com.
Forward looking statements
Certain statements in this announcement 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. Nothing in this announcement should be construed as a profit forecast.