Change to Reporting Currency

RNS Number : 6870L

Spirent Communications PLC

11 May 2010

 



SPIRENT COMMUNICATIONS PLC

CHANGE TO REPORTING CURRENCY

London, UK - 11 May 2010: Spirent Communications plc ("Spirent", the "Company" or the "Group") (LSE: SPT), a leading communications technology company, announces a change to the Group's reporting currency to US dollars in 2010.

The Board announces that the consolidated financial statements for Spirent Communications plc will be reported in US dollars in 2010 rather than sterling.  The decision to change has been made in order to give a clearer understanding of Spirent's performance, more closely reflecting the profile of the Group's revenue and operating profit which are primarily generated in US dollars or US dollar-linked currencies.  The change will be effective for the results for the six months ended 4 July 2010 which will be reported on 5 August 2010.

Restated figures in US dollars for full year and half-year 2009 will be provided to shareholders in a press release which will be issued before the end of June 2010.

The reporting currency of the parent Company will remain as sterling, as it is located in the United Kingdom and its functional currency is sterling.  It will retain its share capital denominated in sterling.  Dividends will be determined in US dollars and paid in sterling at the exchange rate prevailing when the dividend is declared.

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Enquiries

Eric Hutchinson, Chief Financial Officer		Spirent Communications plc		[phone]
Andrew Dowler/Juliet Clarke		Financial Dynamics		[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.  The Systems group develops power control systems for electrical vehicles in the mobility and industrial markets.  Further information about Spirent Communications plc can be found at www.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 www.pinksheets.com.

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.

 

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