16th Apr 2014 08:01
LONDON (Alliance News) - LED lighting technology company Dialight PLC Wednesday said trading so far in 2014 has been in line with its own expectations and sales of lighting products remains strong.
In a statement, the company said exchange rate fluctuations has weighed on the sterling translation of its US results, but its outlook for 2014 remains unchanged.
In February, the company had predicted that it will return to earnings growth in 2014, after 2013 profit fell due to intellectual property fees, patent access payments, and restructuring costs. Its 2013 revenue from continuing operations grew 14%.
Dialight added Wednesday that there has been a fall in its net cash position, in line with normal working capital requirements, while the search for its new finance director is "well underway" and it will update the market in due course.
Dialight shares were up 1.9% at 941.34 pence early Wednesday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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