ANITE LTD Anite plc ("Anite" or "the Group"), the leading provider of software and hardware solutions to the international wireless market, today announces its final results for the year ended 30 April 2014.
Financial highlights (adjusted) 1
- Revenue £109.2m (2013: £113.1m)
- EBITDA £24.0m (2013: £35.5m)
- Operating profit £15.3m (2013: £29.7m)
- Operating margin of 14% (2013: 26%)
- Profit before tax £14.9m (2013: £29.5m)
- Diluted adjusted earnings per share 3.9p (2013: 7.1p)
- Closing order book up 14% to £30.9m (2013: £26.9m)
- Strong operational cash conversion
- Net cash of £6.1m (April 2013: net debt £0.9m)
Statutory results
- Revenue from continuing operations £109.2m (2013: £113.1m)
- Profit from continuing operations £7.8m (2013: £15.6m)
- Profit from discontinued operations £4.5m (2013: £3.7m)
- Profit for the year £12.3m (2013: £19.3m)
- Basic statutory earnings per share from continuing operations 2.7p (2013: 5.5p)
- Diluted earnings per share from continuing operations 2.6p (2013: 5.1p)
Dividend maintained
-
Proposed final dividend 1.265p (2013: 1.265p)
- total dividend 1.84p (2013: 1.84p)
Operating highlights1
- Results in line with expectations
- Handset Testing - progressive improvement in second half
- Network Testing - strong performance throughout year
- Maintained strong R&D investment £20.8m (2013: £18.9m)
-
Travel disposal 29 May 2014 for total consideration £45m
- £43.3m cash received on completion
- Travel revenue £20.5m (2013: £19.4m); operating profit (before share-based payment charge) £5.5m (2013: £4.8m)
Current trading
- Trading ahead of the same period last year
1Adjusted results are for continuing operations (excluding Anite Travel) before share-based payments, amortisation of acquired intangible assets and restructuring costs.
Christopher Humphrey, Chief Executive, said:
"We are pleased to report that Anite had a strong finish to the financial year despite the challenging first half market conditions in the Handset Testing business. Second half trading improved progressively in Handset Testing with a good performance throughout the year by Network Testing.
"Since the start of the new financial year we have sold our Travel business which will enable us to focus on growth opportunities in the wireless market. We believe that with two well-positioned, complementary businesses and a strong balance sheet, Anite is entering an exciting new phase in its development."
For further information, please contact:
Anite plc
Christopher Humphrey, Chief Executive
Richard Amos, Group Finance Director
01252 775200
www.anite.com
@AniteNews
MHP Communications
Reg Hoare / Giles Robinson
020 3128 8100
An analysts' meeting will be held today at 9.15 for 9.30am at the London Stock Exchange, 10 Paternoster Square, London, EC4M 7LS
Notes to editors
Anite plc is a leading provider of software and solutions to the international wireless market, supplying major device, chipset and network equipment manufacturers, mobile operators and test houses. It provides mobile device, infrastructure and network testing systems based on its specialist sector knowledge and on its proprietary software and hardware products.
Its 400+ staff work from headquarters in the UK and from offices in 14 countries across Europe, the Americas, Asia and the Middle East.
This preliminary results announcement contains forward-looking statements. These forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results to differ from any future results or developments expressed or implied from the forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement and, save to the extent required by the applicable law or regulation, we do not undertake any obligation to update or renew any forward-looking statement.
To view the results in full please click on the PDF below:
|
distributed by
|
