TruSpine Technologies Share Discussion Threads

[des56daw] 19/10/2004 07:24

This fire took place some time ago, and it came after the delays in contracts and the staff had been laid off for a period of time.
The two could not possibly be linked could they ???

Des

[responsible lad] 18/10/2004 21:25

lol, I thought someone would think that. Would be a good idea though if I had shorted the shares big time. Though I will take advantage at the right time in the morning if Telspec fall enough.

[wal footrot] 18/10/2004 17:53

It wasnt you looking for a quick bargain was it rl?

[responsible lad] 18/10/2004 17:51

lol, I may now just be able to get these at 5p if I am very lucky now. I wonder how the fire was caused?.

[responsible lad] 18/10/2004 17:50

RNS Number:2019E
Telspec PLC
18 October 2004


Stock Exchange Announcement


Telspec plc

18 October 2004

Fire damage at Scottish plant

Telspec plc ("Telspec" or the "Company") announces that its manufacturing plant
in Perth, Scotland has been damaged by fire. None of the Company's employees was
hurt. A full recovery plan is in place and the Company and its customers are
co-operating in trying to minimise the impact on deliveries. The Company may
suffer some reduction in sales and increased costs during the implementation of
this plan. The quantification of the impact is currently in the process of being
assessed, however the Loss adjuster appointed by the Company's insurance company
has written to Telspec: "At this juncture, I am pleased to inform you that your
Insurers have confirmed the claim can be accepted within the terms of the
policies."

Telspec will make a further announcement when further information is available.

Enquiries:
Telspec plc
Shiv Rakkar, CEO
Tel: [phone]

Citigate Dewe Rogerson
Seb Hoyle
Tel: [phone]

END


This information is provided by RNS
The company news service from the London Stock Exchange

END
MSCMPBRTMMJBBAI

[responsible lad] 18/10/2004 17:48

I am very keen in keeping an eye on this one in the morning to buy after they have tumbled to a silly price and make 10% or something. You heard it hear first.

[made1686] 30/9/2004 14:18

i think the market is thinking old stock is sold at a profit time to start a new

[superbigal] 30/9/2004 12:20

Latest new to scare any buyers.
Factory shut.
Smoke damage has meant all machines down.
Provisionally 100% stock write off (good for the obsolete junk).
BT now require home-highway units and Telspec are seeking sub-contractors to build.
Not quite sure what material would be used to build the product though.
Does no-one have any comments on this brick ?
What more good info do you want ?

[cwake1] 07/9/2004 17:25

The only thing that gives any hope with this dog is if things were as bad as some are saying after these results the shares would have fallen further.

[superbigal] 07/9/2004 09:39

Exactly also as I predicted.
Look at all those overhead savings they claim.(great now no-one wants to work their as no jobs are safe)
But turnover was only 6mill for the half.
I had predicted 10-12mill for the year.
Overhead savings will not stop further huge losses in the 2nd half as turnover will not rise.
You know what they said about the Titanic

[goldengoose] 07/9/2004 06:39

Financial summary
Half Year Half Year Full Year
2004 2003 2003
£'000 £'000 £'000

Turnover 6,887 15,569 24,840
Operating (loss)/profit (1,805) 22 (1,419)
(Loss)/profit before taxation (1,765) 38 33

Basic and diluted (loss)/earnings per
Ordinary share (pence) (4.36) 0.09 0.07


Highlights

• £1.8m loss includes a write down of fixed assets in our manufacturing
plant in Scotland in the sum of £174,000 and restructuring costs of £160,000
in the Group
• Overhead and other cost cuts continue to be rigorously pursued.
• Continual focus on cash management, working capital and stock controls
• R&D spend maintained
• Transition of product portfolio from Voice to Broadband
• BT Home Highway contract extended for another year
• China office opened

Commenting on the results the Chairman, Mark Skilbeck, said:

'The Group will continue its strategy of being an innovative provider of
Intelligent Solutions, based on our core Access product range. With the
introduction of the new Telmax X Line Extender the Group is now well placed for
opportunities to move into Broadband applications.'


- ends -

Enquiries:

Telspec plc
Shiv Rakkar, CEO
Tel: [phone]

Citigate Dewe Rogerson Arbuthnot Securities
Seb Hoyle Tom Griffiths
Tel: [phone] Tel: [phone]



Chairman's Statement


Group Results

The Group loss before taxation for the six months to 30 June 2004 was £1.765
million (2003 1st half; £38,000 profit). Turnover for the half year was £6.887
million (2003 1st half; £15.569 million). Basic loss per ordinary share was
4.36p (2003 1st half; earnings of 0.09p). There is no interim dividend.

Although in the trading statement of 15 June 2004 we indicated a half year loss
in the region of £1.6m, the figure is in fact higher as it now includes a write
down of fixed assets in our manufacturing plant in Scotland of £174,000 and
restructuring costs of £160,000 in the Group.

Restructuring of the Group has thus far produced savings in overhead and other
costs which are still being vigorously pursued. Compared to the beginning of
this year an annualised saving in excess of 20% shall be achieved for next year.

R&D spend has been maintained at approximately 16% of the estimated annual
turnover in order to expedite the development of the Broadband product range. R
&D expenditure is written off as it is incurred in accordance with our current
policy.

The Group continues to focus on the management of cash and working capital, and
as a result net funds were £2.4 million at 30 June 2004, a decrease in the
period of £0.4 million, despite significant restructuring costs and a lower turnover.

Strict controls on inventories have led to a further £0.52 million reduction in
stock since 31 December 2003. These will continue to be stringently monitored.


Operations

As was highlighted in the trading update announced on 15 June 2004, the
finalisation of the two major contracts for network access products are still
proceeding. Furthermore we have been informed that the contract for the sale of
the Home Highway ISDN product is being extended by BT for another year.

The Telmax Pair Gain products continue to be marketed worldwide. A number of new major contracts are in the final stage of negotiation and we expect them to be finalised over the coming months.

The new Telmax Line Extender is being extensively marketed with a number of
network operators.

Our office in China is now operational and marketing of our products will
commence soon.

In addition, our manufacturing plant in Scotland has been successful in winning sub-contract manufacturing sales and further customers are being actively
sought.



Strategy

The strategy for the Group continues to be:

- Tight cost and stock control. The Group is being downsized to reflect
short term business needs and expected future business activity over the
short to medium term.

- Transition of our product portfolio to voice and data on Broadband
digital subscriber lines (DSL). The Telmax X Line Extender is the first
new product in this strategy, and development work continues on the mini
DSLAM (Telmax A) product for the Broadband market.

- Enhance our product range by adding OEM complimentary products. In this
regard arrangements have been put in place to offer VoIP over Broadband
CPE and ADSL modems to our customers.

- Enhance our manufacturing plant in Scotland into a self sustaining
business unit.


Board

The Board has agreed to reappoint Jeff May to the Board as Group Sales &
Marketing Director. Jeff has been with the Company for 7 years and has over 21
years experience in the Telecoms industry.


Staff

I want to thank all our employees for their enormous contribution to the Group,
and in particular for the diligence and spirit universally displayed in what has
been another testing trading period.


Outlook

The Group will continue its strategy of being an innovative provider of
Intelligent Solutions, based on our core Access product range. With the
introduction of the new Telmax X Line Extender the Group is now well placed for
opportunities to move into Broadband applications.

[multimillionaire] 06/9/2004 17:27

S.the co has already said that it has lost around £1.6m in the first half.(including restructuring costs)& will have a better 2nd half.Next year the new products will have a major impact.

[superbigal] 06/9/2004 07:02

New products do have great potential.
But taking far too long to come to the market is the problem.
When turnover for the year is announced at around 10-12 Million you will see some major losses.
Does not matter how much you trim.
Yes this is a good company in theory.
But theory requires around a 22 million sales to break even !!!!!!!!

[superbigal] 06/9/2004 06:58

Multi
Products will not be built in Far East.
This avenue has been explored but size of orders do not justify it.
Do I work for Telspec ?
Im hardly likely to say Yes am I !!!!!!!!!!

[aldasoa] 06/9/2004 03:12

made, in your previous question to multi you should have said, as one wit previously remarked: `I can see the point of your last post, but does it have a purpose?' I also find it ironic that you who are normally grammatically challenged have noticed this!! (No offence intended, just joking).

[risk investor] 04/9/2004 20:57

MULTIMILLIONAIRE ...


TEPNEL (TEd) RESULTS ARE DUE IN A FEW WEEKS ...


WILL IT DO A TSP ..
IE RISE 50% OR MORE BEFORE RESULTS...


:)))))

[made1686] 04/9/2004 16:05

why the . multimillionire

[multimillionaire] 04/9/2004 10:39

Super..manufacturing will be outsourced,at significantly lower cost,in the far east.Newer,broadband based,products have significant potential.China is interesting.Overheads are being slashed.Balance sheet remains strong.see web for new products...

[opthalmist] 03/9/2004 12:41

Do you work for TSP?