Interim Management Statement

RNS Number : 1734D

Dialight PLC

25 April 2013

 



Dialight plc

("Dialight" or "the Company")

Interim Management Statement

Embargoed for release at 7.00am

25^th April 2013

Continued strong performance for Energy Efficient Lighting

Dialight plc (LSE: DIA.L), the UK based leader in Applied Light Emitting Diode ("LED") Technology, today publishes its Interim Management Statement relating to the period from 1 January 2013 until 25 April 2013, in accordance with Disclosure and Transparency Rule 4.3.

Dialight plc is leading the change in the status quo for industrial lighting users across the world. Applying leading edge LED technology it produces lighting fixtures designed specifically for hazardous and industrial locations, obstruction signals and traffic signals to deliver significant reductions in maintenance and energy consumption.

Lighting segment

The Board is pleased to report that the Industrial Lighting segment is performing well.  Our investment in sales channel is paying off. By the end of 2013, we will have more than doubled our direct sales heads focused on Industrial Lighting compared to the end of 2012. We continue to introduce new products, improve designs and drive improved customer savings. Our announcement in early April of selling product with integrated control capability will further improve payback. We have also announced today that we are in the process of setting up Dialight Brasil Participacoes Ltda. This is a a 75% owned subsidiary established to meet the growing demand for hazardous LED lighting in the fast growing Brasilian oil and gas market. Industrial Lighting sales for the half and full year are expected to exceed the level of 50% growth with conversion of our large and growing sales pipeline.

Signals segment

The Signals segment is trading behind the first half 2012 due to the expected and communicated run off of a large cellphone tower customer contract, high sales into the US wind market in 2012 (US Government having announced the suspension of subsidies into the US wind market) and the delay in the award of a significant new contract for obstruction lighting. We announced with our Preliminary Results that we would change our business model in the US cellphone tower market to sell direct. This has now happened and positive customer meetings have taken place recently. These meetings have also demonstrated our new integrated medium intensity product including integrated control and remote monitoring capability. We continue to expect Obstruction and overall Signal segment revenue to be flat for 2013 but with a fall in revenue for H1.

Components segment

The performance of the segment is trading in line with the first half of 2012.

Financial position

The Group maintains a strong balance sheet with the cash balance at the end of March of £7.4m compared with £6.2m at the same stage in 2012.

 Outlook

The Group is seeing strong worldwide order intake for Lighting. We have previously given guidance as to growth projections and, as in recent years, expect the financial results to be weighted to the second half but nonetheless remain confident in meeting market expectations

For further information:

Dialight plc

Roy Burton - Group Chief Executive

Mark Fryer- Group Finance Director

Tel: [phone]

Canaccord Genuity Limited

Simon Bridges

Tel: [phone] 

Kreab Gavin Anderson

Robert Speed

Tel: [phone]

Email:  [e-mail]

About Dialight plc

The Group comprises the following business segments:

Industrial Lighting which addresses the increasing demands for Energy Efficient Lighting solutions for industrial/hazardous locations;

Signals Lighting that covers Traffic, Transportation and Obstruction Lights; and

Components whose sales are primarily to Electronics OEMs for status indication.

The company is headquartered in the UK with operating locations in Australia. Denmark, Germany, Japan, Malaysia, Mexico, Singapore, UAE, the UK and the USA. 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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