Interim Management Statement

RNS Number : 2853K

Filtronic PLC

16 April 2010

 



Filtronic plc

Interim Management Statement

Filtronic, the designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market, issues its Interim Management Statement for the period from 1 December 2009.

Trading in the fourth quarter has suffered from the continued delay in the recovery of telecoms infrastructure spend. The short term demand outlook to the May financial year end is being particularly impacted. The Board now expects the Company to report a small operating loss for the full year.

Actions to trim costs further have been taken without impacting future product development. The demand outlook through the summer remains constrained due to customer inventory overhang. Consequently further small operating losses are expected into the first half of the next financial year.

Recently announced contracts are expected to add significantly to revenues from the start of calendar year 2011. In the same time frame, market expectations are for the robust underlying drivers to initiate substantial growth in mobile broadband infrastructure demand.

At the end of March 2010, the Company had £16.3m of cash (May 2009 cash: £16.2m).

Preliminary results for the financial year ending 31 May 2010 will be announced in July 2010.

Enquiries:

Filtronic plc	Tel. [phone]
Howard Ford, Chairman
Hemant Mardia, CEO
Stephen Mole, CFO
Panmure Gordon (UK) Limited	Tel. [phone]
Dominic Morley
Ashton Clanfield
Walbrook PR Ltd	Tel. [phone]
Paul McManus	Mob. [phone]
	[e-mail]

 

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