Filtronic PLC
21 March 2001
FILTRONIC ON TARGET TO MEET YEAR END FORECASTS
As a result of the recent movement in the Filtronic plc share price, the Board
believes it is appropriate to make the following statement:
With regard to current trading, the Board remains of the view that the Company
will meet current market expectations for financial performance for the year
ending 31 May 2001. This confidence is based upon the continuing strong level
of demand for wireless infrastructure products from our businesses in Europe,
USA, Australia and China and for our cellular handset products business, in
particular for internal antennas for GSM handsets.
The Board believes that the Company's existing borrowing facilities are
adequate to meet the Company's current requirements. Additionally, the Board
confirms that any change to the Company's credit rating would have no impact
on the terms and conditions of the $170m 10% Senior Notes 2005.
The Board confirms that the Company is continuing to pursue discussions with
potential corporate and financial partners in respect of its compound
semiconductor business and that it anticipates making a further statement in
due course and, in any event, before the end of this financial year.
Enquiries:
Professor David Rhodes Executive Chairman & CEO Filtronic plc
Professor Chris Snowden CEO Filtronic Compound Semiconductors
John Samuel Finance Director
Filtronic plc Tel: 01274 530622
Peter Binns
Binns & Co. Tel: 020 7786 9600