Psion PLC
Psion PLC
09 May 2008
Friday 9 May 2008: For Immediate Release
PSION PLC
Interim Management Statement
David Potter, Chairman of Psion PLC, will make the following statement at the
AGM to be held later today. This comprises Psion's first Interim Management
Statement as required by the UK Listing Authority's Disclosure and Transparency
Rules and covers the period from 1 January to 30 April 2008.
Trading
Continuing the trend of late 2007, order intake in the first four months of 2008
has been strong and the Board expects that results for the first half will be in
line with its expectations. Both EMEA and Asia have shown significant increases
in orders compared to the equivalent period of 2007 - 10% and 55% respectively
in local currency. In the Americas, higher orders in Latin America and
increasing demand for the Workabout Pro G2 in the USA have lifted order intake
by 29% in US Dollars compared to the first four months of last year.
The Ikon rugged PDA, announced in October 2007, is now shipping to customers.
Most initial shipments are for pilot projects with volume orders expected later
in the year. Customer reaction is continuing to be highly favourable.
Financial Position
The disposal of the Group's interest in a UK office property lease was completed
in April. The transaction generated net cash of some £6.6m and a profit of
approximately £0.8m which will be included in the results for the first half of
2008. The Group's net cash at the end of April 2008 was £44m.
Appointment of CEO
The appointment of John Conoley, Psion's new Chief Executive Officer, was
announced on 7 April and he took up office on 28 April. David Potter stepped
down as interim CEO at that time. Dr Potter remains Non-Executive Chairman of
Psion.
Outlook
Demand for the Group's products, especially those addressing the Wide Area
Mobile markets, is continuing to be buoyant. The deterioration in credit
conditions across the world threatens economic activity generally but
particularly investment by companies. Against this, investment in mobile
computing provides rapid returns and improved efficiencies. Subject to stable
economic conditions, the Group is well placed for long-term growth and improved
returns to shareholders. As last year, the full year outcome will be weighted
towards the second half.
The Group is scheduled to publish its interim results for the six months to 30
June 2008 on Thursday 14 August 2008.
Enquiries
Craig Breheny, Brunswick +44 (0) 20 7396 7429 / +44 (0) 7974 98 2429
Notes to Editors
1. Psion (PON.L) is listed on the London stock market. Its operational business,
Psion Teklogix, is a global provider of solutions for mobile computing and
wireless data collection. The Group's products and services include rugged
mobile hardware, secure wireless networks, robust software, professional
services and exceptional support programs. Psion Teklogix is committed to
helping its customers reap the benefits of new and emerging technologies,
including image capture, voice recognition and RFID. With over three decades of
industry experience, Psion Teklogix has customers in more than 80 countries
around the world, and over 36 sales and support offices in 23 countries.
2. The information in this release is based on management information.
3. Certain statements in this announcement are forward looking statements. Such
statements are based on current expectations and by their nature are subject to
a number of risks and uncertainties that could cause actual results and
performance to differ materially from any expected future results or performance
expressed or implied by the forward-looking statement. The information does not
assume any responsibility or obligation to update publicly or revise any of the
forward-looking statements contained herein.
This information is provided by RNS
The company news service from the London Stock Exchange
