Vislink PLC
10 January 2002
10 January 2002
Vislink plc
Trading Statement
Vislink wishes to report that the two large contracts referred to in the
interim statement were only received, together with their initial deposits, by
the UK Broadcast businesses in late December 2001 and therefore they will not
make their expected fourth quarter contribution to the results for the year
ended 31 December 2001. This delay has resulted in a shift of some £4m of
sales into 2002 from anticipated sales for 2001. This will impact on profits
for the year ended 31 December 2001 which we now expect to be below the
market's consensus for normalised pre-tax profits, but ahead of last year's £
2.35m normalised pre-tax profits (being pre-tax profit before goodwill and
exceptional items).
The Group's order inflow for the year ended 31 December 2001 was £80.8m, an
increase of 28% over the previous year's £63.1m. The outstanding order book
has increased to £20.9m at 31 December 2001 compared with £17.6m at 31
December 2000, which will give the Group a good start to the new year.
In the USA, MRC our Broadcast business and also both the larger Video Division
businesses, Hernis (Norway) and American Auto-matrix (USA), have performed in
line with expectations.
The Group's cash balance at 31st December 2001 was £3.5m. The Group's net debt
position has reduced to below £10m at 31 December 2001 (2000- £11.8m).
The preliminary announcement of the full year results to December 2001 will be
made at the end of March 2002.
The sales cycle continues to be lengthy, particularly on the larger contracts
within the Broadcast Division. However, with the current level of the order
book and the continuing investments in product development, the Board
considers the prospects for 2002 to be encouraging in today's market
conditions.
- Ends -
For further information on 10 January 2002, please contact:
Ian Scott-Gall 01488 685500
Chief Executive, Vislink plc
James Trumper 01488 685500
Group Finance Director, Vislink plc
Richard Dyett 020 7597 5970
Investec Henderson Crosthwaite
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.