Dialight PLC DIA Interim Management Statement

  Dialight PLC (DIA) - Interim Management Statement

RNS Number : 6063Q
Dialight PLC
08 November 2012




8^th November 2012

                                      

                                 Dialight plc

                        ("Dialight" or "the Company")

                                      

                         Interim Management Statement






Continued strong performance for Energy Efficient Lighting




Dialight plc (LSE:  DIA.LN), the  UK based  leader in  Applied Light  Emitting 
Diode ("LED")  Technology, today  publishes its  Interim Management  Statement 
relating to the period from 1 July  2012 until 8 November 2012, in  accordance 
with Disclosure and Transparency Rule 4.3.



Dialight plc is leading the change  in the status quo for industrial  lighting 
users across  the world.  Applying  leading edge  LED technology  it  produces 
lighting  fixtures  designed   specifically  for   hazardous  and   industrial 
locations, obstruction  lighting and  traffic signals  to deliver  significant 
reductions in maintenance and energy consumption.



Following continued growth  in industrial lighting  the Board announces  that, 
beginning with  the  final results  for  the  year ending  31  December  2012, 
Dialight will report through three  new segments; Industrial Lighting,  Signal 
Lighting and Components.



Industrial  Lighting   will   include   those   applications   developed   for 
industrial/hazardous uses  whilst Signal  Lighting will  include  obstruction, 
traffic and transportation products.  Components will comprise LED  indication 
components and legacy electro-magnetic products. Dialight will also report  on 
the discontinued Electromagnetic Components segment.



Industrial Lighting segment

The Board  is  pleased to  report  that  the Industrial  Lighting  segment  is 
performing well and is trading in line with our expectations. Our  investment 
in sales channel is  paying off. Sales  resource is the  key to continuing  to 
grow the business.  By the end  of 2012, we  will have more  than doubled  our 
direct sales heads focused on Industrial Lighting compared to the end of 2011.
We continue  to introduce  new products,  improve designs  and drive  improved 
customer payback. Industrial Lighting sales for the full year are expected to
exceed the level of 65% growth achieved at the half year to June 2012.



Signal Lighting segment

The Signal Lighting segment is trading below our expectations due to the delay
in the award of a significant new contract for obstruction lighting. For  2013 
we expect  the level  of growth  in  obstruction lighting  to return  to  that 
achieved in prior  years. The other  products in this  segment are trading  in 
line with expectations.



Components segment

The performance of the segment is ahead  of the run rate of the latter  months 
of 2011 and is therefore in line with expectations.



Discontinued - Electromagnetic Components

The Group  has  signed  conditional  agreements  to  dispose  of  its  utility 
disconnect switch business. The sale of intellectual property rights has  been 
completed with upfront consideration of £3.1m and a further £3.1m payable  for 
inventory anticipated in December 2012. The profit on the sale is expected  to 
be approximately £1m after  costs of the transaction,  redundancy and the  one 
time amortisation of previously capitalised development expenditure.



Financial position

The Group maintains a strong balance sheet and cash generation is in line with
expectations. Our net cash balance at the  end of the third quarter was  £6.3m 
compared with £5.3m at the same stage in 2011.



Outlook

The Group has seen strong worldwide order intake for Lighting and the Board is
confident in  the growth  strategy  for both  Industrial Lighting  and  Signal 
Lighting, meeting expectations for 2012  and of continuing good progress  into 
2013.







For further information:



Dialight plc

Roy Burton - Group Chief Executive

Mark Fryer- Group Finance Director

Tel: +44 (0) 1638 778640



Canaccord Genuity Limited

Simon Bridges

Tel: +44 (0) 20 7523 8000



Kreab Gavin Anderson

Robert Speed, Andrew Jones

Tel: +44 (0) 20 7074 1800

Email: dialight@kreabgavinanderson.com



About Dialight plc

The Group comprises the following business segments:



Industrial  Lighting  which  addresses  the  increasing  demands  for   Energy 
Efficient Lighting solutions for industrial/hazardous locations;



Signals Lighting that covers  Traffic, Transportation and Obstruction  Lights; 
and



Components  whose  sales  are  primarily   to  Electronics  OEMs  for   status 
indication.



The company is headquartered in the UK with operating locations in  Australia. 
Denmark, Germany, Japan, Malaysia, Mexico, Singapore, UAE, the UK and the USA.
More information is available at www.dialight.com.



Cautionary statement



This Interim Management Statement contains certain forward-looking  statements 
which have  been  made  by  the Directors  in  good  faith  using  information 
available up  until  the date  they  approved the  statement.  Forward-looking 
statements should be regarded with caution as by their nature such  statements 
involve risk and uncertainties relating  to events and circumstances that  may 
occur in the future.  Actual results may differ  from those expressed in  such 
statements, depending on the outcome of these uncertain future events. 

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSBRBMTMBAMTFT -0- Nov/08/2012 07:01 GMT
 
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