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As of 8:10 PM 10/7/14 All times are local (Market data is delayed by at least 15 minutes).

laird plc (LARRF) Key Developments

Laird PLC Announces Interim Management Statement Results for the Third Quarter from 1 July to 21 October 2014

Laird PLC announced interim management statement results for the third quarter from 1 July to 21 October 2014. For the quarter, revenue totalled USD 251 million (2013: USD 218 million).

Laird PLC, Q3 2014 Interim Management Statement Call, Oct 22, 2014

Laird PLC, Q3 2014 Interim Management Statement Call, Oct 22, 2014

Laird Plc Opens New Telematics Manufacturing Plant in Shanghai

Laird Plc opened a new telematics manufacturing plant in Shanghai to serve the international automotive market. The company's new plant increases production capacity and efficiency while allowing for exacting quality control - ensuring that Laird continues to offer the most telematics solutions to the automotive manufacturers and fleet management companies with reliable fulfillment and speed. The new plant, which covers 17,151 square meters (184,616 square feet), serves as both a design and manufacturing center for the company. An in-house engineering team utilizes local ingenuity and technical expertise, which is then leveraged by the manufacturing team to produce smart antenna solutions and applications. The team also produces components that enable machine-to-machine (M2M) communications and other emerging mobile technologies, such as vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications, all of which will greatly enhance driver safety, the passenger experience and the management of vehicle assets in the future.

Laird PLC Announces Resignation of Jonathan Silver as Chief Financial Officer

Laird PLC announced that Jonathan Silver will be stepping down as Chief Financial Officer at the Annual General Meeting to be held on May 8, 2015, after nearly 29 years with the company and 21 years as a Director. Jonathan will work closely with David Lockwood, Chief Executive, on the selection and appointment of his successor to ensure a smooth transition.

Laird PLC Declares Interim Dividend, Payable on December 5, 2014; Reports Unaudited Group Earnings Results for the Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for the Full Year 2014

Laird PLC announced that the Board declared an interim dividend of 4.27 pence per share compared to 4.1 pence per share a year ago. The interim dividend will be paid on December 5, 2014 to shareholders registered on November 7, 2014. The company reported unaudited group earnings results for the six months ended June 30, 2014. For the period, the company reported total revenue of £252.6 million compared to £243.5 million a year ago. In US Dollars, revenue was 12% higher year on year, with Performance Materials revenues up 15% and Wireless Systems revenues rising by 8%. Operating profit was £21.8 million compared to £13 million a year ago. Profit before tax from continuing operations was £16 million or 3.5 pence per diluted share compared to £10.2 million or 2.0 pence per diluted share a year ago. Profit from continuing operations was £9.4 million compared to £5.5 million a year ago. Profit attributable to equity shareholders of the parent company was £9.4 million or 3.5 pence per diluted share compared to £5.5 million or 2.0 pence per diluted share a year ago. Underlying profit before tax was £19.8 million or 6.0 pence per diluted share compared to £17.3 million or 5.3 pence per diluted share a year ago. Net cash flows from operating activities were was £22.3 million compared to £19.7 million a year ago. Purchase of property, plant and equipment was £10.9 million compared to £5.8 million a year ago. Purchase of intangible assets (internally developed) was £6 million compared to £5.8 million a year ago. The company remains on track to achieve expectations for the full year 2014. As in 2013, the company expects performance will again be significantly second-half weighted, with further revenue growth in the remainder of the year from product launches by the company and customers, the start of new contracts and seasonal demand for consumer products all contributing. Operational gearing will have a material beneficial impact in the second half, as it did in the same period last year.

 

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Price/Earnings 22.8x
Price/Sales 1.4x
Price/Book 2.1x
Price/Cash Flow 23.0x
TEV/Sales 1.4x
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