Halma PLC
08 February 2007
Halma p.l.c. ('Halma')
ACQUISITION OF LABSPHERE, INC
Halma, the leading safety, health and sensor technology group, announces the
completion on 7 February 2007 of the acquisition of Labsphere, Inc ('Labsphere')
from X-Rite, Inc for an initial cash consideration of $13.9 million (£7.0
million) and deferred cash consideration of $1.5 million (£0.8 million) pending
the finalisation of the completion accounts. If the completion accounts to 31
December 2006 demonstrate net tangible assets below $8 million (£4.1 million),
the deferred consideration is adjustable $1 for $1.
Unaudited accounts for the calendar year 2006 show revenues of $12.5 million
(£6.3 million) and operating profit of $2.4 million (£1.2 million).
The acquisition, which is immediately earnings enhancing, has been funded from
Halma's existing cash and debt facilities.
Labsphere, based in North Sutton, New Hampshire, USA, is a world leader in the
design and manufacture of innovative light testing and measurement products and
specialised optical coatings. These high quality devices and materials are used
by a wide range of end users, including government and commercial organisations
for testing, measuring and calibrating optoelectronic devices against widely
accepted National Standards of performance, to conform with regulations or drive
technical advances.
Andrew Williams, Halma's Chief Executive, commented, 'Labsphere enhances Halma's
presence in the growing photonics market and complements our existing businesses
where technical and marketing collaboration opportunities exist. Together with
Ocean Optics, Halma now has two leading companies in this exciting market where
we are well placed to grow organically and through further acquisitions.'
For further information please contact:
Halma p.l.c. +44 (0)1494 721111
Andrew Williams, Chief Executive
Kevin Thompson, Finance Director
Hogarth Partnership Limited +44 (0)20 7357 9477
Rachel Hirst/Andrew Jaques
Notes
1. A copy of this announcement, together with other information about Halma,
may be viewed on its website: www.halma.com.
2. This statement is not intended to constitute a profit forecast for the
current financial period or for any future period. In addition, this
statement should not be taken to mean that the earnings per share of Halma
will necessarily match or exceed the historic reported earnings per share
of Halma.
3. Exchange rate used: $1.97/£1.
This information is provided by RNS
The company news service from the London Stock Exchange
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