Dynex Power Provides Guidance on 2013 Business Prospects

Weak First Quarter Expected to be Offset by Strong Orders for Balance of Year 
Listing:TSX Venture Exchange
Symbol: DNX 
LINCOLN, England, Feb. 20, 2013 /CNW/ - Dynex Power Inc., a leading, high 
power semiconductor company, today issued guidance on its outlook for 2013 and 
also announced that it has received significant new orders from a major 
In the President's Letter and the Management Discussion and Analysis issued 
with the Financial Statements for the quarter ended September 30th, 2012, 
management indicated that they expected revenue to be slightly higher in the 
fourth quarter of 2012 with net profit in the fourth quarter at a similar 
level to that reported in the third quarter. These forecasts remain unaltered. 
In a press release dated November 12th, 2012, management indicated that it was 
cautious about the outlook for the first quarter of 2013 but remained 
confident that there would be annual growth in revenue in 2013 compared to 
Management now believes that revenue in the first quarter of 2013 will be 
significantly lower than in recent quarters. As a result, the Company may 
operate below break-even. The revenue reduction reflects the slow recovery in 
global markets, a temporary decline in orders from China and a delay to orders 
for major contracts in Europe. Nevertheless, management continues to be 
confident that the Company will achieve revenue growth in 2013 compared to 
2012 and that net profit will be similar to or slightly ahead of the figure 
reported in 2012. This confidence is supported by recent orders received. 
The Company has received a series of orders from Alstom Grid UK Ltd covering 
the supply of semiconductor devices and power assemblies for the South West 
High Voltage Direct Current (HVDC) converter stations project in Sweden. 
Deliveries will commence in the second quarter of 2013 and last for nearly 12 
months. Taken together, the orders cover the supply of bipolar discrete 
devices, IGBT modules and power assemblies for a total value of $7.4 million 
(£4.6 million). 
Dr. Paul Taylor, President and Chief Executive Officer commented, "We are 
delighted to be able to assist Alstom in their fulfilment of these important 
orders. Our pricing has had to be very tight to win these contracts and we had 
hoped that deliveries could have commenced in the first quarter of 2013, but 
nevertheless we are delighted to be able to demonstrate our expertise to an 
important customer like Alstom Grid. The successful execution of orders such 
as these positions Dynex well for future global business." 
Bob Lockwood, Chief Financial Officer commented, "World markets for Dynex 
products have been weak for some time, however we believe that a turnaround is 
now beginning. We believe the recent orders are tangible evidence of that 
change and they should help ensure that we generate revenue growth in 2013. As 
Paul indicated, we have had to be very competitive to win this business, and 
to help Alstom Grid be sufficiently competitive to win the underlying contract 
that provided us the business opportunity. Consequently, although these orders 
allow us to forecast revenue growth in 2013, we cannot, at this stage, 
forecast any significant growth in net profit for 2013 compared to 2012." 
About the Company 
Dynex designs and manufactures high power bipolar semiconductors, high power 
insulated gate bipolar transistor (IGBT) modules, high power electronic 
assemblies and radiation hard silicon-on-sapphire integrated circuits (SOS 
IC's). The company's power products are used worldwide in power electronic 
applications including electric power transmission and distribution, renewable 
and distributed energy, marine and rail traction motor drives, aerospace, 
electric vehicles, industrial automation and controls and power supplies. Our 
IC products are used in demanding applications in the aerospace industry. 
Dynex Semiconductor Ltd is its only operating business and is based in 
Lincoln, England in a facility housing the fully integrated silicon 
fabrication, assembly and test, sales, design and development operations. 
Dynex is majority owned by Zhuzhou CSR Times Electric Co., Ltd. 
Zhuzhou CSR Times Electric Co., Ltd. is based in Hunan Province in the 
People's Republic of China. It is listed on the Hong Kong stock exchange. CSR 
Times Electric is mainly engaged in the research, development, manufacture and 
sales of locomotive train power converters, control systems and other 
train-borne electrical systems, as well as the development, manufacturing and 
sales of urban railway train electrical systems. In addition, CSR Times 
Electric is also engaged in the design, manufacturing and sales of electric 
components including power semiconductor devices for the railway industry, 
urban railway industry and non-railway purposes. 
Press announcements and other information about Dynex are available at 
Further information on CSR Times Electric can be found at 
All monetary values expressed in this release are in Canadian Dollars unless 
stated otherwise. 
The TSX Venture Exchange has neither approved nor disapproved of the 
information in this press release. 
Dr. Paul Taylor President and Chief Executive Officer or Bob 
Lockwood Finance Director and Chief Financial Officer Dynex Power Inc. Tel: 
+44 1522 500 500 Email:investorrelations@dynexsemi.com 
To view this news release in HTML formatting, please use the following URL: 
-0- Feb/20/2013 21:01 GMT
Press spacebar to pause and continue. Press esc to stop.