Interim Management Statement

RNS Number : 6210C

Filtronic PLC

18 April 2013

 



Filtronic plc

("Filtronic" or the "Group")

Interim Management Statement

Filtronic plc, the designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market, issues its Interim Management Statement for the period from 1 December 2012.

Wireless continues to make good progress with the LTE/4G mitigation filters, (that prevent 4G services interfering with domestic television receivers in Europe), driving the fourth quarter performance. Sales commenced in March and deliveries have progressed in line with expectations.  The exact timing and mix of these filter sales to the year-end remains difficult to forecast but the Board anticipates that current market forecasts for Wireless turnover and profit will be exceeded.

A borrowing facility is in place with Barclays and will be used to support initial working capital requirements for the LTE/4G mitigation filter production.

Broadband's transition to production volumes on long term customer programmes in millimetre wave (E and V band) and defence products has been delayed from Q4'13 to Q1  of next financial year. Nonetheless Broadband FY13 revenues and profits are expected to be in line with market expectations.

In light of the trading outlined above the Board expects that revenues and profits for the Group as a whole will exceed market expectations, with revenues expected to be in the region of £38.5m.

Filtronic plc	Tel. [phone]
Alan Needle, CEO
Mike Brennan, CFO
Panmure Gordon (UK) Limited	Tel. [phone]
Dominic Morley / Hannah Woodley
Walbrook PR Ltd	Tel. [phone] or [e-mail]
Paul McManus	Mob. [phone]
Helen Westaway	Mob. [phone]

 

END

 

 

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