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Spirent Communications reports positive full-year results, well placed for challenges ahead

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Spirent Communications PLC reported positive results for 2008 which saw financial performance improving in each quarter partly due to cost reductions taking effect and favourable exchange rates as well as new products being released.

Revenues rose 2 percent, or 9 percent at constant currency, to £257.9 million in the year to December 31 2008, generating pretax profit of £49.6 million, compared with £17.8 million a year earlier.

The company paid its first dividend since the first half of 2002 in the period under review and proposes a final dividend of 0.6 pence per share, which will take the total dividend for the year of 1.1 pence per share.

The performance last year, with annualised cost reductions of a further £8.2 million implemented in the first quarter of 2009 and the strong financial position of the company, mean that Spirent is well placed to face the challenges of an uncertain market in the coming year, it said.

Total order intake in January 2009 for the group is level year-on-year in constant currency.

Spirent Communications is a communications technology company focused on delivering network equipment and services to customers worldwide.

Quick facts: Spirent Communications

Price: 217 GBX

LSE:SPT
Market: LSE
Market Cap: £1.33 billion
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