Last checked at 26 Jan 2011 07:00
Vislink plc (the "Company")
Update
26 January 2011
Following the recent disposal of its Marine and Energy business, the Company now focuses on providing secure communications to the News and Entertainment and Law Enforcement and Public Safety markets. The Company has today announced that it is reducing its headcount by around 60 people, being approximately one quarter of its total workforce. These reductions will be combined with further site-consolidations and the acceleration of the transfer of product sourcing to Asia. As a result, the Company expects to reduce the total fixed cost-base of the continuing business to approximately £20.0m, which is consistent with the current market trends and expected revenue growth of the Company. The cash cost of the restructuring will be approximately £0.6 million.
- ends -
For further information, please contact:
Duncan Lewis, Chief Executive +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
Vislink plc is a global technology business specialising in secure communications and services for the news & entertainment and law enforcement & public safety markets. The Company has two international business units serving these markets.
The Company's strategic focus is the design, manufacture, sale, installation and maintenance of wireless, video and IP technologies together with the supporting management systems. Vislink products include microwave radio, satellite transmission and wireless camera systems.
Headquartered in the UK with operations in the USA, Dubai and Singapore, the Company employs over 230 people worldwide. The Company is fully listed on the London Stock Exchange (LSE:VLK).
For further information, please visit www.vislink.com.