Business and Financial Review • Apr 18, 2013
Business and Financial Review
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National Storage Mechanism | Additional information
RNS Number : 6210C
Filtronic PLC
18 April 2013
Filtronic plc
("Filtronic" or the "Group")
Interim Management Statement
Filtronic plc, 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 2012.
Wireless continues to make good progress with the LTE/4G mitigation filters, (that prevent 4G services interfering with domestic television receivers in Europe), driving the fourth quarter performance. Sales commenced in March and deliveries have progressed in line with expectations. The exact timing and mix of these filter sales to the year-end remains difficult to forecast but the Board anticipates that current market forecasts for Wireless turnover and profit will be exceeded.
A borrowing facility is in place with Barclays and will be used to support initial working capital requirements for the LTE/4G mitigation filter production.
Broadband's transition to production volumes on long term customer programmes in millimetre wave (E and V band) and defence products has been delayed from Q4'13 to Q1 of next financial year. Nonetheless Broadband FY13 revenues and profits are expected to be in line with market expectations.
In light of the trading outlined above the Board expects that revenues and profits for the Group as a whole will exceed market expectations, with revenues expected to be in the region of £38.5m.
| Filtronic plc | Tel. 01325 301 111 |
| Alan Needle, CEO | |
| Mike Brennan, CFO | |
| Panmure Gordon (UK) Limited | Tel. 020 7459 3600 |
| Dominic Morley / Hannah Woodley | |
| Walbrook PR Ltd | Tel. 020 7933 8780 or [email protected] |
| Paul McManus | Mob. 07980 541 893 |
| Helen Westaway | Mob. 07841 917 679 |
This information is provided by RNS
The company news service from the London Stock Exchange
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