Filtronic Swings Into FY10 Loss But Maintains Dividend At 1P

2nd Aug 2010 08:00

LONDON (Dow Jones)--Filtronic PLC (FTC.LN), a technology-led service focused on point to point communications, Monday reported a swing into loss for fiscal 2010 but maintained the dividend at 1 pence. MAIN FACTS: -Revenue from continuing operations for year ended May 31, GBP15.6 million (2009 GBP28.8 million). -Operating loss before exceptional items GBP0.3 million (2009: Profit GBP2.1 million). -Operating loss after exceptional items GBP1.1 million (2009: Profit GBP1.2 million). -Loss before tax GBP1.02 million (2009: Profit GBP2.27 million) -Diluted loss per share 1.37 pence (2009: EPS 15.65 pence) -Year end cash maintained at GBP16.2 million (2009 GBP16.2 million) -Annual dividend 1.00 pence per share (2009 1.00 pence). -Underlying market drivers for Point to Point backhaul market growth remain intact, although demand outlook through the summer remains constrained. -Whilst overheads have been trimmed the group continues to invest in R&D in order to position the Company with competitive products to respond to market expectations of a 2011 demand recovery. -The proposed acquisition progresses the Group's strategy to create a high growth wireless telecoms business through organic growth and selective acquisition. -Capital expenditure was GBP0.6 million all of which related to continuing operations (2009 GBP0.9 million total, GBP0.8 million continuing operations). -Shares closed Friday at 34 pence valuing the company at GBP25.27 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] Order free Annual Report for Filtronic plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0003362992 or call +44 (0)208 391 6028 (END) Dow Jones Newswires August 02, 2010 03:00 ET (07:00 GMT)