Anyone interested in Filtronic?? Anyone have any views?



http://www.filtronic.co.uk



Audio CV of David Rhodes
http://www.theredtape.co.uk/medialinks/v1.8-cv.asx

Chart reading can give a lot of information. But there are always a few stocks which buck the trend.

Heres hoping it is FTC!

Teddy Bear - 19 Mar'03 - 09:36 - 19 of 20


any tiny upwards movements will be followed by a long term downhill movement for this dog .

helpful teddy




LOL!

Filtronic is keeping up with a long term uphill trend since end Jan 03 at 63p to close at 235p. Worth buying in more ?

I like Frogs!!

:-)

Jeff

I too lost a L O T of money on Filtronic......I used to work for them too at one point, alhough bought the shares some time after they sacked me! Two mistakes maybe!

A nice suprise on my return from holiday today to see that my holdings in FTC is showing a handsome profit of 208% at 370p. Thought it would go further and with positive trading statements this share still has plenty more upside I think! Definitely one to keep buying in!

BIG BUYER LOOKING FOR STOCK

abov 200p again any views

Down 30% today by 74p to 170p = disastrous!!! Looks like long term downtrend from here. I sold out today.



Filtronic CEO resigns as co swings to interim loss UPDATE
AFX


LONDON (AFX) - Filtronic PLC announced the departure of its CEO John Roulston as it posted a swing to first half losses.

The wireless communication equipment maker said chairman David Rhodes will step down as chairman to take over Roulston's role, while Rhys Williams will become chairman on a temporary basis.

For the six months to Nov 30, the group recorded a pretax loss of 5.6 mln stg compared to a profit of 3.5 mln a year ago.

Revenue from continuing operations rose to 110.8 mln stg from 103.2 mln last time, while the interim dividend was maintained at 0.90 pence.

'Wireless Infrastructure is experiencing a flat market in the second half of the financial year with operating margins for the core transmit/receive filters at over 10 pct,' said Rhodes.

'Revenue growth awaits some delayed contracts and new OEM platforms moving into production.'

Wireless infrastructure, which makes up 80 pct of the group's revenues, saw sales of 89.4 mln stg in the six-month period compared to 86.7 mln a year earlier.

Its defence electronics operations had sales of 15.3 mln for the half year, slightly above last year's 15.2 mln, while its compound semiconductor business had sales of 8.5 mln stg, over double last year's 3.6 mln.

'Our market driven approach to Power Amplifiers is gaining traction and will be a growth mechanism in the coming financial year,' Rhodes said.

'New products in remote radio heads for 3G and WiMAX, some of which are at the prototype stage, will give growth in 2007.'

Meanwhile, in Defence Electronics, consolidation in the US is positioning the business favourably with old and new customers, he added.

'Completion of large contracts will reduce revenue in the next financial year, with the lead time to production on sizeable new opportunities being 12 to 18 months.'

In Compound Semiconductors, the company is expecting more customers.

'The foundry ramp up supports Compound Semiconductors reaching run rate breakeven at the end of this financial year. Additional capital expenditure of 4 mln stg is being undertaken to increase foundry capacity from 17,500 to nearly 27,000 wafers a year during the coming period.'

Filtronic slides into FY loss UPDATE
AFX


(adds detail throughout)

LONDON (AFX) - Filtronic PLC slid into a pretax loss of 6.7 mln stg in the year to May 31 2006 from a profit of 9.5 mln the prior year on revenue from continuing operations of 221.0 mln stg, up from 212.9 mln in 2005.

The loss in the year comes despite a 14.1 mln stg gain on the sale of discontinued operations.

But in the first half of the current year, the group anticipates revenue from wireless infrastructure and from compound semiconductors up 25 pct on the prior year and on the previous quarter respectively.

The company also announced today that it has appointed John Poulter non-executive chairman with immediate effect to succeed Rhys Williams. Williams will remain as a member of the board until he retires at the forthcoming AGM on Sept 29.

And David Rhodes has informed the board that he will retire at the September AGM as group chief executive and member of the board.

The final dividend was maintained at 1.80 pence for the year under review, for a total unchanged payout of 2.7 pence per share.

On outlook, the group said a continuing upswing in activity is expected for the Wireless Infrastructure division with customer demand supporting growth for the second half.

The board is continuing with its plans to sell the major activities within this division for 81 mln stg in cash plus 20.7 mln shares of Powerwave's common stock, to Powerwave Technologies Inc by Sept 30 2006.

The cash proceeds from the sale to Powerwave will be used to repay outstanding bank debt and to fund continuing investment in the Newton Aycliffe semiconductor facility, along with other corporate working capital requirements.

The company said net proceeds from the sale of the Powerwave shares are expected to be returned to shareholders as cash, once they are sold.

For Compound Semiconductors, Filtronic said it is now providing some 20 pct of the overall mobile handset market with 4-way and above mobile phone pHEMT switches, which is around an 80 pct share of the addressable market.

'Continued market adoption of our type of switches is expected to reach 80 pct of overall mobile phone market over the coming three years.'

As a result of a detailed assessment of future wafer requirements, the company said it has phased plans for capacity increase and it is currently undertaking this expansion in line with forecast demand for the current financial year.

Therefore the financing plan for the growth of Compound Semiconductors requires less than 15 mln stg of additional cash for this financial year, after which the business is targeted to be self-financing.

Filtronic also updated on its pension scheme. It said it is expecting to implement changes to the group's final salary pension scheme at the end of the consultation period on July 31 2006 to have benefits based on career average revalued earnings.

As part of this change to the scheme, the company has agreed to provide additional funding of 4.6 mln stg on implementation of the changes to the scheme to fund the actuarial deficit at the date of change.

All quiet on this thread. Looking at the recent fall in this it looks like the company is trading only a bit above cash PLUS shares in a US company

Together cash and shares worth c90 -- c120p a share
Stock priced at 144p at mo
Turnover of businesses 70m from continuing opps for 18m MKT CAP THEN
they are cashflow negative from operations and profits but businesses are interesting

Recent c25% fall looks to be driven by institutional seller ---- overdone for long term investors IMHO

finished higher ytd from midday level, looks to moving to finish up today ... not bad in these mkts

some buyers in on v low value and likely big returns in cash in March and then much bigger in2H

Glad I sold out on this company which can't keep its words. This will slide further as investors will lose confidence in such a sloppy management!



Filtronic says no longer prudent to return 10 mln stg to shareholders in March
AFX


LONDON (AFX) - Filtronic PLC said it believes it is no longer 'prudent' to return an initial 10 mln stg of cash to shareholders following a decline in the value of the Powerwave Technologies Inc stock held by the company.

The telecoms equipment manufacturer said on Jan 29 that it would return an initial 10 mln stg by the way of the B share scheme by the end of March 2007.

Yes hlyeo --- funny statement

Can understand that can't distribute reserves at present if they are not selling Powerwave but find the use of the word "prudent" as strange

Now this co is trading perhaps 10% above value of cash and Powerwave holdings. Sure businesses currently do not make money but compund semi business could look interesting to others and these guys like to sell their businesses -- so co should be worth c200p IMHO

On the downside though is FD sold shares at 174p in early FEb -- why then as shares were on slide and business apparently undervalued ?

Secondly there is a class action re Powerwave, does this mean some problem with co selling shares and they are not letting on about it --- hence "not prudent"

Overall there should be 100p+ coming out of this co to shareholders in the next year if the management are to be believed and cash pile not required for businesses BUT they do tend come across as changing their minds on what they want to do.

Life in the old dog.

Why has FTC drop 67% today???

Ex 120p special dividend..

This has started moving again, don't know why, but have bought some for a momentum trade. H

Filtronic expects 2012 sales to rise to 25m


Filtronic's group sales are now projected to grow from 16m in the 2011 financial year to around 25m for 2012.

Filtronic - which designs and manufactures microwave electronics products for the wireless telecoms infrastructure market - says its point-to-point business continues to be faced with a number of challenges but also new opportunities as its product mix changes significantly over the next 18 months.

It adds: "Recent conversations with customers suggest a faster than expected phase-out of certain mature module products.

"This will have a negative impact on trading in the remainder of the financial year ending in May as well as into FY 2012.

"The business has also had to adjust to the impact of Ceragon's acquisition of NERA in January.

"Whilst sales of short-haul products to Ceragon are tailing off more sharply than expected, long haul product volumes (typically around 40% of historic sales to NERA) are expected to be sustained well into FY 2012."

PTP sales are expected to be around 12m in the 2011 financial year.

The early part of FY2012 will be hit by the Ceragon reductions and mature product phase-outs, while the second half will start to benefit from the new customers and products.

he overall expectation is for FY2012 PTP sales of just above 10m, weighted towards the second half.

The firm says Isotek is well-positioned to participate on several key programmes, especially in the US 4G market, and has been selected by Alcatel-Lucent as a supplier for both its AT&T and Sprint LTE programmes. However, there have been some recent customer programme delays during the early rollout phase.

These delays are expected to reduce FY2011 Isotek sales to 4m with consequent margin impacts compounded by short term component shortages.

Group sales are now projected to grow from 16m for FY2011 to around 25m for FY2012 with Isotek FY2012 expectations maintained at 15m.

A nice jump later in the day; I believe because of growth in the wireless infra structure division and related G4 technology. Surprised to be in profit now, hoping that the G4 runout in the UK/US and the release of the new i phone etc, will push the share price along a little more. H