Preliminary Results for the year ended 31 March 2005


“Continued growth” Radstone Technology, the world’s leading independent supplier of high-performance, embedded computer products for defence and aerospace applications today announces preliminary results for the year ended 31 March 2005. Key Points

  • Turnover up 14% to £49.9m (2004: £43.7m).
  • Group Profit before tax, goodwill and exceptional items increased 15% to £8.5m (2004: £7.4m).
  • Normalised Earnings per share * up 5% to 21.54p (2004: 20.50p). Basic Earnings per share up from 5.00p to 26.12p
  • Final dividend of 2.7p per share increasing the total dividend by 20% to 3.6p (2004: 3.0p).
  • Order book ended the year at a record level at £86.5m (2004 : £79.3m)
  • $26.5m multi-year production order from Raytheon
  • Octec Ltd (acquired in July 2004) has been earnings enhancing.
  • EMS business showed a substantial improvement in results during the year, following our reorganisation of the business, with a contribution of 18.7% of sales (2004 : 9.8%)
* Calculated after adjusting profit after tax for the effect of goodwill amortisation and exceptional items.  Jeff Perrin, Chief Executive commenting on the results said: “The US defence market remains strong and its increasing investment in technology to achieve a complete network centric battlefield, with armed forces that are equipped for rapid deployment, will mean that Radstone is well placed to benefit from our customers’ requirements for high performance embedded computing. The Group has invested substantially in new facilities, it has developed and brought to market new products and it has increased its market reach through targeted acquisitions.  We have continued to deliver improved financial performance; have a record order book and a healthy balance sheet and so begin this financial year in a strong position.”