Interim Management Statement

RNS Number : 8262R

Dialight PLC

10 November 2011

 



Dialight plc

Interim Management Statement

10th November 2011

Continued strong growth for Industrial Lighting

Dialight plc, the UK based leader in Applied Light Emitting Diode ("LED") Technology, today publishes its Interim Management Statement relating to the period from 1 July 2011 until 10 November 2011, in accordance with FSA Disclosure and Transparency Rule 4.3.

Signals/Illumination

The Board is pleased to report continuing good performance in the Signals/Illumination segment which is showing a strong revenue increase over 2011.

Highlights of the segment's trading performance during the period include:

•           Sales of White lighting products into the industrial market have shown very strong growth against 2010 and for the full year are expected to be double those of the prior year.

•           Take-up of our new High Bay Light in both Hazardous and non-Hazardous versions is particularly encouraging as we pioneer the adoption of LED lighting technology in a wide variety of industrial applications.

•           Revenues in the Obstruction Lighting segment are showing growth of around 50% driven by adoption of LED technology for US telecommunications towers and European offshore wind turbines.

LED Indication Components

This segment responds to cyclical changes in the global electronic market place and as a result sales have slowed in the second half. The Board believes that the fundamentals of the business remain sound and margins are stable. Revenues are expected to return to more normal levels as the market recovers.

Electromagnetic Components

The Electromagnetic Components business is not core to the Group's LED driven strategy and, therefore, the Board has decided to initiate a strategic review of this segment. This review will be managed by PricewaterhouseCoopers.

Cashflow

The Group maintains a strong balance sheet. Cash generation is in line with expectations with a current balance of £6m.

Outlook

Dialight's state-of-the-art solid state lighting products continue to bring substantial savings to customers in Industrial and Hazardous markets and thereby support the strong performance of the Group.

As a result of the success of our strategy in the Solid State Lighting and Signalling markets, the Board remains confident of meeting expectations for 2011 and continuing good progress into 2012.

For further information:

Roy Burton - Group Chief Executive, Mark Fryer- Group Finance Director, Dialight plc

Tel: [phone]

Simon Bridges - Canaccord Genuity Limited, Tel: [phone]

Robert Speed - Kreab Gavin Anderson, Tel: [phone],

Email:  [e-mail]

Dialight plc (LSE: DIA.L)

The Group 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.

•           LED 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 with operating locations in the UK, USA, Mexico, Germany, Denmark, Australia and Japan. More information is available at www.dialight.com.

Cautionary statement

This Interim Management Statement contains certain forward-looking statements which have been made by the Directors in good faith using information available up until the date they approved the statement. Forward-looking statements should be regarded with caution as by their nature such statements involve risk and uncertainties relating to events and circumstances that may occur in the future. Actual results may differ from those expressed in such statements, depending on the outcome of these uncertain future events.

 

END

 

 

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