Spirent Reports 2010 Prelims

Test and measurement specialist reports operating profits up 30% to $112.7 million

March 3, 2011

1 Min Read

LONDON -- Spirent Communications plc ("Spirent", the "Company" or the "Group") (LSE: SPT), a leading communications technology company, today announces its preliminary results for the financial year ended 31 December 2010.

Financial highlights

  • Order intake growth of 17%, resulting in a book to bill ratio of 105.

  • Operating profit up 30% to $112.7 million on revenue up 13% to $482.2 million.

  • Return on sales increased to 23% from 20%.

  • Adjusted basic earnings per share up 31% to 11.62 cents after eliminating the impact of the change in the effective tax rate. Basic earnings per share down 14% to 11.77 cents.

  • Final dividend increased by 40% to 1.40 cents per share (equivalent to 0.86 pence per share).

  • Strong cash generation resulted in cash and cash equivalents of $223.9 million compared to $173.9 million in the previous year.

  • Acquisition of The Fanfare Group, Inc. for $15.0 million completed on 16 February 2011.

    Operational highlights

  • During 2010 demand for Spirent's solutions increased as our customers invested in:
    - data center technologies to enable cloud computing and virtualization;
    - growth of Ethernet across telecom and datacom network infrastructures;
    - expansion in mobile internet driving exponential growth in data traffic;
    - new investment in global positioning technologies to modernise GPS and to upgrade other satellite navigation systems.

  • Spirent introduced new test solutions to address increasing customer demand:
    - higher speed Ethernet data test solutions on Spirent TestCenterTM to validate network performance, availability, security and scalability of cloud computing using Spirent test methodology;
    - wireless test solutions for the rollout of LTE networks and for higher 3G wireless network speeds;
    - new positioning test capabilities to serve the rapid expansion of satellite navigation and location based services.

    Spirent Communications plc

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