Trading Update

RNS Number : 4784I

Spirent Communications PLC

03 July 2013

 



SPIRENT COMMUNICATIONS PLC

SECOND QUARTER 2013 TRADING UPDATE

London, UK - 3 July 2013: Spirent Communications plc ("Spirent", the "Company" or the "Group") (LSE: SPT), a leading communications technology company, announces the following trading update covering the period from 1 April to 30 June 2013.  The provisional figures reported below are for continuing operations.

Second quarter 2013 trading update

Trading in the second quarter was mixed.  Revenues were weaker than anticipated; however, order intake stepped up materially.

Order intake for the second quarter of 2013 grew by 10 per cent over last year to $119.0 million (second quarter 2012: $108.4 million), resulting in a book to bill ratio of 128.  This represented a sequential increase of 31 per cent in order intake compared to the first quarter of 2013.  The order book increased by $26.3 million in the quarter, compared to a decrease of $10.3 million during the second quarter of 2012.

Good progress has been achieved in order intake for Wireless and Positioning as well as Service Assurance.  In Networks and Applications, the recovery in the market was much slower than originally anticipated, although order intake was significantly ahead of revenues. 

As a consequence of the lower orders for the first quarter and the slower than anticipated recovery in Networks and Applications, Group revenue is expected to fall by $26.0 million to $92.7 million for the second quarter compared to last year, resulting in $189.5 million for the first half year (first half 2012: $236.1 million).

The Half-Year Report, which will include details on the outlook, will be issued on 1 August.

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Enquiries

Bill Burns, Chief Executive Officer		Spirent Communications plc		[phone]
Eric Hutchinson, Chief Financial Officer
James Melville-Ross/Sophie McMillan/ Emma Appleton		FTI Consulting		[phone]

About Spirent Communications plc

Spirent Communications plc is a global leader in test and measurement inspiring innovation within development labs, communication networks and IT organisations.  We enable today's communication ecosystem as well as tomorrow's emerging enterprises to deploy life enriching communications networks, devices, services and applications.  Further information about Spirent Communications plc can be found at http://corporate.spirent.com/.

Spirent Communications plc Ordinary Shares are traded on the London Stock Exchange (ticker: SPT).  The Company operates a Level 1 American Depositary Receipt ("ADR") programme with each ADR representing four Spirent Communications plc Ordinary Shares.  The ADRs trade in the US over-the-counter ("OTC") market under the symbol SPMYY and the CUSIP number is 84856M209.  Spirent ADRs are quoted on the Pink OTC Markets electronic quotation service which can be found at http://www.otcmarkets.com/otc-pink/home.

Spirent and the Spirent logo are trademarks or registered trademarks of Spirent Communications plc.  All other trademarks or registered trademarks mentioned herein are held by their respective companies.  All rights reserved.

Cautionary statement regarding forward-looking statements

This document may contain forward-looking statements which are made in good faith and are based on current expectations or beliefs, as well as assumptions about future events.  You can sometimes, but not always, identify these statements by the use of a date in the future or such words as "will", "anticipate", "estimate", "expect", "project", "intend", "plan", "should", "may", "assume" and other similar words.  By their nature, forward-looking statements are inherently predictive and speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future.  You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to factors that could cause our actual results to differ materially from those expressed or implied by these statements.  The Company undertakes no obligation to update any forward-looking statements contained in this document, whether as a result of new information, future events or otherwise.

 

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