Final Results

Solid State Supplies PLC
20 June 2002


Press release

20 June 2002


Solid State Supplies PLC

Final Results


Chairman's Statement


RESULTS

The audited profit before tax of the Company was £116,000 (2001: £971,000) on a
turnover of £5,986,000 (2001: £9,166,000).  The basic earnings per share
amounted to 1.4p (2001: 11.0p).


TRADING REVIEW

Having seen the dramatic downturn in the telecommunications market, the past
year has been a difficult one for the industry.  We took action throughout the
year to reduce our overheads and this has meant that for the year overall the
Company has remained profitable.

The book to bill ratio has improved as a result of the end of the de-stocking
programmes which took place throughout 2001 and into 2002 and a gradual increase
in the level of business has taken place.  The broadly break-even situation for
the Company recorded in the second half of the year was a result of
reorganisation costs which have now finished and we are trading profitably
again.

Towards the end of our financial year we started negotiations for the
acquisition of the Steatite Group.  We completed the acquisition on 24 May 2002.
Having regard to the current point in the semi-conductor component
distribution cycle and the additional dimensions offered by the battery pack
assembly and specialised systems divisions, we believe the acquisition provides
an excellent opportunity to diversify the Company's activities and to enhance
the growth prospects of the Company.

We look forward to welcoming John Lavery, who has been a director of the
Steatite Group since 1988 and managing director since 1999, and who is now to
join the Board of our Company.


DIVIDENDS

The Directors are recommending a final dividend of 3p per share which, together
with the special interim dividend, makes a total for the year of 8p per share.
This compares with a total of 4.5p per share last year.  The final dividend will
be paid on 18 July 2002 to shareholders on the register at the close of business
on 21 June 2002.


CONCLUSION

The Board remains confident of the Company's prospects and has declared an
unchanged final dividend of 3p per share.

I would like to thank my fellow Directors for their efforts during the
acquisition of Steatite Limited, and the staff in general for all of their
continued support during the year.


GORDON L COMBEN
Chairman
20 June 2002


Profit and Loss Account
For the year ended 31 March 2002

                                                              2002                            2001
                                                £              £               £               £
Turnover                                                     5,985,568                       9,165,781
Cost of Sales                                              (4,367,370)                     (6,482,812)
Gross Profit                                                 1,618,198                       2,682,969
Selling expenses and distribution costs      (943,103)                     (1,163,770)
Administrative expenses                      (574,525)                       (568,993)
                                                             1,517,628                     (1,732,763)
Operating Profit                                               100,570                         950,206
Other interest receivable and similar                           15,788                          36,130
income
Interest payable                                                     -                        (15,429)

Profit On Ordinary Activities Before                           116,358                         970,907
Taxation
Tax on profit on ordinary activities                          (31,990)                       (281,761)

Profit on Ordinary Activities After                             84,368                         689,146
Taxation
Dividends - Equity                                           (498,500)                       (281,250)

Retained Profit (Loss) for the Year                          (414,132)                         407,896

Earnings per Share
Basic                                                             1.4p                           11.0p


All amounts relate to continuing activities.

There were no recognised gains or losses other than the profit for the year as
stated above.

Balance Sheet
For the year ended 31 March 2002

                                                               2002                          2001
                                                 £                £               £             £

Fixed Assets
Tangible assets                                                    278,457                     314,059
Investments                                                            100                         100
                                                                   278,557                     314,159
Current Assets
Stocks                                         1,002,870                       1,906,213
Debtors                                        1,019,924                       2,669,461
Cash at bank and in hand                         655,478                             408
                                               2,678,272                       4,576,082

Creditors: amounts falling due within            894,998                       2,400,648
one year

Net Current Assets                                               1,783,274                   2,175,434
                                                                 2,061,831                   2,489,593
Capital and Reserves
Called up share premium                                            311,250                     312,500
Share premium account                                              756,980                     756,980
Capital redemption reserve                                           1,250                           -
Profit and loss account                                            992,351                   1,420,113

Shareholders' Funds-Equity                                       2,061,831                   2,489,593


The financial statements were approved by the Board on 19 June 2002.


G L COMBEN
Director


Notes

1.   The financial information is derived from the Company's audited statutory 
     accounts for the years ended 31 March 2002 and 31 March 2001.  The 
     auditors' reports were unqualified and did not contain a statement under 
     Section 237(2) or (3) of the Companies Act 1985.  The statutory accounts 
     for 2001 have been filed with the Registrar of Companies and the 2002 
     accounts will be filed following the Annual General Meeting.

2.   Earnings per share is based on the profit on ordinary activities after 
     taxation divided by the weighted average number of ordinary shares in issue
     during the year of 6,239,412 (2001: 6,250,000).

3.   The Report and Accounts for the year ended 31 March 2002 are being sent to 
     shareholders shortly.


                                     -ends-


This press announcement has been issued by Insinger de Beaufort (Corporate
Finance) Limited, trading as Insinger English Trust, on behalf of Solid State
Supplies PLC Insinger de Beaufort (Corporate Finance) Limited is a subsidiary of 
Bank Insinger de Beaufort N.V.   Regulated by the FSA Registered in England and 
Wales No. 2582230


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