Dialight plc
("Dialight" or the
"Group")
Trading Update
In our Interim Management Statement in November,
the Dialight Board announcedstrong
revenuegrowth in our Signals/Illumination
segment driven by adoption of LED based White Lighting
products and LED Strobe Lights for Aircraft Obstruction
Lighting. For 2011 White Lighting revenues have grown by
over 100% versus 2010 and obstruction by almost
50%.
As a result of this sales growth the Board is
pleased to announce that Dialight will grow Group
operating profit by more than 30% in 2011.
Cashflow
The Group's net cash at 31st December 2011 was
almost £14m compared with £10.2m at the end of
2010.
Electromagnetic Components
In November it was announced that the
Electromagnetic Components business which supplies smart
meter disconnect switches was not core to the Group's
LED driven strategy. A strategic review was instituted
and has now been completed and the Board is pursuing a
sale of this business
Commercial Update
We are pleased to announce the settlement of a
previously announced commercial dispute with a customer
for whom a development has been in process since 2007 to
produce customised LED rail signals. Following receipt of
proceeds from the disconnect switch licence agreement
first disclosed in the Interim Management Statement
released in April 2011, the Board confirms that these
transactions taken together will not have a material
effect in respect of the financial statements for the
year ending 31 December 2011. There will be further
accounting disclosure in the financial statements.
Outlook
The Board's confidence in the Group's
excellent prospects is supported by the strong
performance in 2011 and the continued high growth in
White Lighting.
As the result of the successful execution of our
strategy in selected White Lighting and Signalling
markets we remain confident in a continued strong
performance in 2012.
The Group will publish its preliminary results for
the 12 month period ended 31 December 2011 on 27 February
2012.
Contacts:
For further information:
Roy Burton - Group Chief Executive, Mark Fryer-
Group Finance Director, Dialight plc Tel: +44 (0) 1638
778640
Simon Bridges - Canaccord Genuity Limited, Tel: +44
(0) 20 7050 6500
Robert Speed- Kreab Gavin Anderson, Tel: +44 (0) 20
7074 1800,
Email: dialight@kreabgavinanderson.com
About Dialight
Dialight plc is leading the lighting revolution for
industrial users across the world. Applying leading edge
LED technology it produces retro-fittable lighting
fixtures designed specifically for hazardous locations,
obstruction lighting, traffic and rail signalling to
vastly reduce maintenance, save energy, improve safety
and ease disposal. Versions of these high specification
luminaires are also produced for more general commercial,
industrial and outdoor situations.
Dialight comprises the following business
segments:
·Signals/Illumination which addresses
the increasing demands for Energy Efficient Lighting
solutions through the use of high brightness LEDs and
utilisation of a number of associated technologies. Areas
of business include Traffic and Rail Signals, Obstruction
Lights and Solid State Lighting products.
·Indication components whose sales are
primarily to Electronics OEMs for status indication;
and
·Electromagnetic components which
supplies smart meter disconnect switches which are used
by utility companies to manage remotely electrical supply
to residential and business premises.
The company is headquartered in the UK and listed
on the London Stock Exchange (LSE:DIA.L,GB0033057794)
with operating locations in the UK, USA, Denmark,
Germany, Australia, Japan and Mexico. More information is
available athttp://www.dialight.com/
.
Cautionary statement
This announcement contains certain statements,
statistics and projections that are or may be
forward-looking. The accuracy and completeness of all
such statements, including, without limitation,
statements regarding the future financial position,
strategy, projected costs, plans and objectives for the
management of future operations of Dialight plc and its
subsidiaries is not warranted or guaranteed. These
statements typically contain words such as
'intends', 'expects',
'anticipated', 'estimates' and words of
similar import. By their nature, forward-looking
statements involve risk and uncertainty because they
relate to events and depend on circumstances that will
occur in the future. Although Dialight plc believes that
the expectations will prove to be correct. There are a
number of factors, many of which are beyond the control
of Dialight plc, which could cause actual results and
developments to differ materially from those expressed or
implied by such forward-looking statements.
