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11 Jun 15. Optical components specialist Gooch Housego PLC (GHH:LSE) (GHH) delivered a strong first-half performance that saw adjusted pre-tax profit ahead by 23.5 per cent at £6.3m. The improvement was driven by the industrial side, where operating profit was up by a third at £4.7m, while operating margins there rose from 18.8 per cent to 21.3 per cent. This is the group’s principal trading division, accounting for around 57 per cent of turnover, and the key driver behind the improved performance was an 18 per cent rise in sales of acousto-optic components for fibre and solid-state lasers. Telecommunications added a further growth element, driven by a surge in demand for under-sea components. And while contributing only around a tenth of group turnover, life sciences revenue grew by 20 per cent, thanks mainly to increased demand for laser surgery technology. Aerospace and defence revenue was flat, although chief executive Mark Webster is expecting a pick-up in US defence-related business in the second half. Crucially, the group is looking to move up the value chain to more complex sub-assemblies, and to provide broader engineering solutions for its customers.
Analysts at Investec Securities are forecasting full-year normalised pre-tax profit of £12.9m and EPS of 38.8p (from £11.5m and 35.2p in 2014). (Source: Investors Chronicle)
10 Jun 15. StoneCalibre, LLC (“StoneCalibre”) announced that one of its affiliates has acquired Broadcast Microwave Services, Inc. (“BMS” or the “Company”), a subsidiary of Cohu, Inc. (NASDAQ: COHU) (“Cohu”). Headquartered in Poway, CA with an additional sales and service office in Taunusstein, Germany, BMS designs, develops, and manufactures mobile microwave communications equipment including transmitters, receivers, antennas, and accessories that enable the transmission of real-time video, audio, telemetry, and sensor data from manned aircrafts, unmanned aerial vehicles (“UAVs”), and ground platforms.
For over 33 years, BMS has been designing and manufacturing a portfolio of leading edge technology systems that serve a diverse, high quality customer base within the government surveillance, law enforcement, UAV, and broadcast end markets. The Company’s reputation for both industry-leading products and premier customer service has established BMS as among the market leaders in the mobile microwave industry and a prime candidate in the high-growth commercial UAV market.
“We are delighted to welcome the talented employees of BMS to the StoneCalibre portfolio as our first platform investment in aerospace and defense,” said Brian Wall, Founder and Chief Executive Officer of StoneCalibre. “BMS is truly the downlink expert in this industry, and the product portfolio that BMS has developed is exceptional. We appreciate the opportunity to continue to serve the Company’s customer base and support their mission critical needs.”
“StoneCalibre approached the entire process with the utmost professionalism,” said James A. Donahue, Executive Chairman of the Board of Cohu. “At every stage, StoneCalibre demonstrated a thorough and thoughtful approach, and they gave us confidence around their ability to both execute and deliver transaction certainty.”
Graham Bunney, President and VP of Engineering of BMS, expressed his enthusiasm for partnering with StoneCalibre. “This transaction represents a defining moment for the Company. With the backing of StoneCalibre, we are committed to exploring all avenues to further our relationships with existing and potential new customers.”
Philpott Ball & Werner, LLC acted as the exclusive financial advisor to Cohu. (Source: Yahoo!/Marketwired)
09 Jun 15. UTC to review Sikorsky options following offers –sources. Un