Spirent Reports Q3 Op Profit of $25.9M

Weakness in demand for wireline infrastructure equipment suppresses revenue and profits for UK-based test and measurement firm

November 9, 2012

2 Min Read

LONDON -- Spirent Communications plc ("Spirent", the "Company" or the "Group") (LSE: SPT), a leading communications technology company, announces the following unaudited Interim Management Statement for the period from 1 July 2012 to date. Unless otherwise stated the financial information is for the three months ended 30 September 2012. The sale of the Systems Division announced on 24 September 2012 was completed on 1 November 2012. The Systems Division has been classified as a discontinued operation in these results and comparatives have been restated to reflect this disposal.

Trading to date
As anticipated at the time of Spirent's half-year results announcement market conditions during the third quarter were challenging, due to macro-economic factors. This caused our customers to exercise caution in the timing of their investment decisions which in turn tempered our short term growth rates.

Results summary
The results for the third quarter and for the first nine months of 2012 for the continuing Group are set out below:

Table 1: Spirent Results Summary

$ million

Q3 2012

Q3 2011

9M 2012

9M 2011

Reported

Revenue

111.7

115.4

347.8

345.2

Operating profit

25.9

28.6

79.1

79.2

Basic EPS (cents)

2.77

2.95

8.44

8.38

Free cash flow

17.1

25.8

67.5

42.9

Adjusted

Operating profit

28.2

29.3

87.8

82.5

Basic EPS (cents)

3.11

3.06

9.61

8.80





Spirent Communications plc

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