This merits some attention....lovely graph...surprised that there is no thread on this one, so anybody else interested in this beauty ?.

Hmmm -

N+1 Singer Buy 486.50 860.00 860.00 Reiterates

Canaccord Genuity Buy 486.50 900.00 900.00 Reiterates

Canaccord note today:
"We believe Dialight's revenue shortfall is due to macro rather than LED sector specific or company specific issues. Management has not seen a change in the competitive environment, the dynamics of the LED lighting market or its sales execution capabilities. Therefore, we remain positive on the hazardous and industrial LED lighting sector and Dialight's position in the market.
We also continue to believe the company's previously-flagged cost and margin issues are operational rather than structural. Management believes the issues are associated with business processes rather than capital and equipment. We expect progress on cost and margin issues to accelerate with the stability and leadership of a new CEO. However, largely due to unfortunate end market sector exposure, we expect a drop in demand and lower our 2015 Lighting revenue estimate 15% from £133.2m to £113.2m, and our divisional operating margin estimate to 11.9% from 13.9% (2014: 14.5%). We lower our 2015E revenue by 11% from £195.9m to £174.1m and adjusted operating profit by 27% from £21.3m to £15.5m. For 2016E, we lower revenue by 14% from £228.9m to £197.0m and adjusted operating profit by 30% from £26.7m to £18.7m. We expect FCF outflow to be £6m plus £5m of dividend payments in 2015. As a result, we expect net debt to rise to £12m from -£0.6m at end 2014 and £8.9m at the end of Q1 2015. The company has £50m of debt capacity and is well below loan covenants.

The share price has fallen 37% this morning, which we believe is excessive given our downgrades and that O&G represents 25% of Lighting revenue. We set a target price of 540p from 900p, based on a 20% discount to peer average P/E FY1 multiples. We believe a discount is justified at this time, given the pending strategic review and recent earnings performance. We believe our target price is conservative. Even after our earnings revisions, we expect 20% growth in EPS in 2016, broadly in line with 23% median growth expected for sector peers."

Harry - do you have a link to the above please?

It came from the FT. Will try and find the link.

I've found the blog Harry - thanks.

StockMarketWire.com
Dialight's underlying operating profits fell to £1.7m in the six months to the end of June - 74% down on last time (75% down at constant currencies).

Group revenues rose by 14% - up 9% at constant currency - to £80.6m with lighting revenues up 24% - 17% at constant currencies - at £53.4m.

The board is not declaring an interim dividend (H1 2014: 5.2p).

Group chief executive Michael Sutsko aUS: " We are clearly disappointed by the half year results for the Group, which reflect the adverse impact of operational inefficiencies and the impact of the oil and gas sector on lighting revenue growth in Q2 2015.

"I have commenced a strategic review to identify the best opportunities in current and potential markets, products and geographies. We will report back with the findings of this review in October."

margins low , no hope divi = s/p too high BB will maybe @ £ 4 buy director buys no comment, I look for a stake instead, will then consider a buy.