Business
2020 Audited Full Year Results
2020 Audited Full Year Results.
About this update from Filtronic Plc
[{"type":"text","content":"\n \n \n RNS Number : 0037V\n Filtronic PLC\n 04 August 2020\n \n \n \n \n \n \n \n \n \n \n 4 August 2020\n \n \n FILTRONIC PLC\n \n \n \n \n \n AUDITED FULL YEAR RESULTS FOR THE YEAR ENDED 31 MAY 2020\n \n \n \n \n \n Filtronic plc (AIM: FTC), the designer and manufacturer of products for the critical communications and wireless telecoms and defence and aerospace markets, announces its full year results for the 12 months ended 31 May 2020.\n \n \n \n \n \n Financial Highlights\n \n \n \n \n \n \n \n \n \n \n 2020\n \n \n \n \n 2019\n \n \n \n \n \n \n Revenue\n \n \n \n \n £17.2m\n \n \n \n \n £15.9m\n \n \n \n \n \n \n Adjusted EBITDA*\n \n \n \n \n £1.2m\n \n \n \n \n £0.7m\n \n \n \n \n \n \n Adjusted operating profit**\n \n \n \n \n £0.4m\n \n \n \n \n £0.2m\n \n \n \n \n \n \n Exceptional items\n \n \n \n \n (£0.6m)\n \n \n \n \n -\n \n \n \n \n \n \n Operating (loss)/profit\n \n \n \n \n (£0.2m)\n \n \n \n \n £0.2m\n \n \n \n \n \n \n (Loss)/profit before taxation\n \n \n \n \n (£0.4m)\n \n \n \n \n £0.1m\n \n \n \n \n \n \n Loss for the year from discontinued operations\n \n \n \n \n (£1.4m)\n \n \n \n \n (£3.5m)\n \n \n \n \n \n \n Loss for the year\n \n \n \n \n (£2.0m)\n \n \n \n \n (£1.3m)\n \n \n \n \n \n \n Basic and diluted loss per share\n \n \n \n \n (0.93p)\n \n \n \n \n (0.63p)\n \n \n \n \n \n \n Net (debt)/cash balance as at 31 May\n \n \n \n \n (£0.7m)\n \n \n \n \n £2.5m\n \n \n \n \n \n \n Net cash when excluding right of use property leases\n \n \n \n \n £0.4m\n \n \n \n \n £2.5m\n \n \n \n \n \n \n Cash used in operating activities\n \n \n \n \n (£2.6m)\n \n \n \n \n £0.0m\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n *Adjusted EBITDA is earnings before interest, taxation, depreciation, amortisation and exceptional items.\n \n \n ** Adjusted operating profit is operating (loss)/profit before exceptional items.\n \n \n \n \n \n Operational Highlights\n \n \n \n \n \n · A contract award from a leading US technology corporation for the development of high-power long-distance high-capacity low-latency transceiver modules for use in HAPS applications.\n \n · A contract award from a leading OEM supplier for the development and delivery of module samples for Over-the-Air equipment.\n \n · The installation and...