kam - 11 Dec 2002 10:33

IT solutions group Anite saw its half-year pre-tax profits dive into the red after it booked a hefty ?39m goodwill write-off. Pre-tax losses for the six month to October totalled ?43.4m against a profit of ?1.96 last time.

Before exceptionals its profits slumped to ?8.9m against ?14.3m on turnover up 20% to ?111.5m. The company blamed increased R&D and restructuring costs for the fall in profits.

Basic earnings per share for the six months to October were 2.1p against 3.9p last time, in part reflecting 14.7% increase in shares in issue.

The ?39.1m goodwill write-off has led to basic and diluted losses per share of 14.0p

The group assured investors that it is `operating comfortably? within its banking facilities. Anite remains confident that for the year as a whole, the group will perform in line with expectations.

Anite said order intake has been `strong? during the six months, totalling ?114m with IT contracts from the public sector up 47%. The prospect for potential new contracts is `excellent?

Commenting on the results John Hawkins, Chief Executive, said Anite?s strategy of focusing on building strong market positions in chosen sectors means that the Group, following the actions taken to renegotiate the earnout obligations, reduce costs
will be `well placed to recover strongly in 2003/4.|

In early morning trade Anite was up 1.25p to 23.25p, valuing the group at ?86.5m.

nickdr99 - 08 Jun 2005 16:54 - 2 of 6

good move today, now near 3 year high. something happening?
nickdr99 - 08 Jun 2005 16:57 - 3 of 6

anybody hold this?
cynic - 01 Jan 2008 11:42 - 4 of 6

time to revive this little stinker! ..... the company never seems to have got its act together, though certain elements of the company, noticeable travel software, perform consistently well ..... the telecom side is horrid ...... certainly thngs seem to be afoot here though it is still uncertain as to exactly what will happen .... may be worth a flutter on the basis that some sort of t/o or break up seems on the cards and sp has bounced neatly off 50 dma


cynic - 28 Sep 2010 15:46 - 5 of 6

certainly not the most exciting of stocks but perhaps worth tucking some away ..... there have certainly been stories of late that the telecom division is firing on all cylinders and i suspect their travel software biz is likewise prospering - i think it's (one of) the largest in its field
cynic - 10 Jan 2011 13:44 - 6 of 6

very boring this consistent little riser!

StockMarketWire.com
Electronic measurement instruments group Keysight Technologies has agreed a £388m deal for Anite.

The recommended cash offer of 126p per Anite share is a 22.3% premium to the closing price last night.

Anite's directors intend unanimously to recommend that shareholders vote to approve the deal.

Keysight president and chief executive Ron Nersesian said: "The combination of Keysight and Anite - two global leaders with complementary strengths - enables us to offer a broad portfolio of leading-edge solutions throughout the wireless research and development cycle. This will help us to expand our portfolio into the software layer for design and validation, and expand Keysight's position as a supplier for wireless design and validation tools. We look forward to welcoming the talented team at Anite and the value this combination will deliver to customers worldwide."

Anite chairman Clay Brendish said: "Over a number of years, the Anite team has executed successfully against our strategic plan to transform the business into a pure play global wireless test and measurement business. This has positively impacted our profitability and prospects and we have continued to develop our market leading positions and technological capabilities. Over the last five years, Anite shares have increased threefold.

The combination of Anite and Keysight has strong strategic logic, with Anite's software expertise strongly complementing Keysight's hardware expertise. Our market has been characterised by ongoing customer consolidation, increasing the importance of scale and strength to support customers around the globe and invest in major research and development programmes across the technology cycle. Keysight brings the scale and financial resources to continue to develop Anite's business.

"The offer will enable shareholders to crystallise a cash value for their shares at a meaningful premium to recent average prices, and enhances the opportunities for our customers and employees."

17 Jun Liberum Capital 100.00 Hold
17 Jun Northland... N/A Buy
17 Jun finnCap N/A Under Review

ST of IC today - I would sit tight for now as you have nothing to lose.

ST of IC today - It has been a productive week on the mergers and acquisitions front for companies on my watchlist with both SME finance company Inspired Capital (INSC:20p) and software company Anite (AIE:128p) attracting cash offers from predators. In both cases, my advice is to sit tight as there is a realistic chance that the initial bids for both companies could be eked up in the event of a rival offer emerging (Anite), or behind the scenes negotiations by the controlling shareholders (Inspired Capital).