16 April 2010 – trading update
Electronics company Filtronic has today issued a disappointing trading statement covering the period from 1 December, with trading in the fourth quarter suffering from the continued delay in the recovery of telecoms infrastructure spend. As a result of this, the company is expected to make a small operating loss for the year to 31 May. The first half of the next financial year is also likely to be affected due to customers having an overhang of stock although recently announced contracts should mean that revenues increase from the start of 2011. The company had net cash of £16.3m at the end of March, worth 22p per share, and, although in the short term the shares are likely to drift, they remain a LONG TERM BUY.