Vislink PLC
31 July 2001
30 July 2001
Vislink plc
Sale of Codepoint, the access control business of
Vislink's Video Technology Division, and recent contract awards
Vislink plc ('Vislink') announces the sale of the business and certain assets
of Codepoint ('Codepoint'), the access control business carried on within
Vislink's Video Technology Division. Codepoint had sales of £0.8m and an
operating profit of £0.03m for the year ended December 2000.
The sale is expected to generate cash of £0.28m and a modest gain which will
be included in the full year results.
The sale of Codepoint to Total Security Protection Limited (a private company)
was made because the Vislink Board considered that the prospects for Codepoint
and its staff would be further enhanced by joining with an established company
in the UK access control market.
Video Division
Vislink is pleased to announce that Hernis, our Norwegian based high quality
CCTV systems integrator, had a record order input in the month of June of NOK
16.1m (£1.2m). Significant orders included systems for two onshore gas plants,
worth NOK 6m (£0.5m), a local offshore project worth NOK 2.6m (£0.2m) and 7
systems for LNG vessels with a total value NOK 5m (£3.8m). This brings the
total to 10 systems for LNG vessels this year. Further orders for LNG vessels
are expected later in the year.
In addition, in May, Hernis won the contract to supply the on-board security
and safety CCTV system to the 'World' - the world's first residential ocean
going resort liner.
These orders have come from a number of shipping and oil and gas companies and
underline the global opportunities being won by Hernis.
Furthermore, our US based subsidiary, American Auto-Matrix, has through its
local Pittsburgh based service company won a $1m contract. This represents the
first of such installation and service contracts and is expected to generate a
satisfactory result for AAM over the next 12 months.
Broadcast Division
As reported in June to the shareholders at the Annual General Meeting, the
Broadcast Division remains well placed to win a number of significant
contracts. Several of these have now been received with continuing good
prospects for the others.
Recent contracts awarded have been:-
Firstly, a £1m contract from a Taiwanese broadcaster for the supply of a
digital microwave system that will carry digital television signals through
the majority of the island.
Secondly, a Middle East based customer has awarded us a $0.9m (£0.65m)
contract for the design, manufacture, installation and commissioning of a
large fixed satellite uplink which will have the capability of simulcasting
multiple analogue and digital signals from a single antenna. Completion of
this project is scheduled for the fourth quarter.
Thirdly, our US business has won contracts to supply two Korean broadcast
companies with digital TV systems which have a contract value of $1m (£0.7m).
The strategy of MRC our US based business remains on course, with the level of
their orders to date in line with expectations, benefiting from the FCC
mandated introduction of digital TV capability into the USA.
Half year results announcement
Vislink expects to announce its half year results on Tuesday 4 September 2001.
- Ends -
For further information contact:
Ian Scott-Gall, Chief Executive
01488 685500
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