Filtronic warns of losses

TELECOMS firm Filtronic warned that it expects to make a small operating loss this year after trading in the fourth quarter was hit by a lack of spending on telecoms infrastructure.

By The Newsroom

Published 16th Apr 2010, 10:58 BST

Short term demand has been particularly impacted and will hit results for the year to May 31.

Actions to trim costs have been taken, although the Saltaire-based group said the cutbacks would not have any impact on future product development.

The group said the outlook for demand through the summer remains constrained due to customer inventory overhang.

As a result further small operating losses are expected in the first half of the next financial year.

Recently announced contracts are expected to add significantly to revenues in 2011.

At the end of March 2010, the company had 16.3m in cash.

Preliminary results for the year to May 31 will be announced in July 2010.

Saltaire