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Share Name Share Symbol Market Type Share ISIN Share Description
Dialight Plc LSE:DIA London Ordinary Share GB0033057794 ORD 1.89P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  20.00 7.84% 275.00 268.00 273.00 260.00 259.00 259.00 21,018 16:45:34
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 151.0 -12.5 -49.8 - 89

Dialight Share Discussion Threads

Showing 2926 to 2949 of 3525 messages
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DateSubjectAuthorDiscuss
02/3/2015
10:27
Agree with some of the comments above. In addition they also capitalised £3.5m in development costs and amortised £2.3m in the cashflow statement, thereby boosting profit by £1.2m. £300k of pension costs also haven't been expensed through the P&L account. The headline numbers are in-line, but the accounts have been adjusted quite a bit, which I'm not happy with. The outlook statement also doesn't fill me with confidence, and I can't justify buying the stock based on the current PER.
imranawan
02/3/2015
10:27
I, too, agree with Pug. As I've written before, my concern is that an apparently profitable company is burning so much cash. They put this down to increases in working capital due to growth but, besides the stock w/o, every year they seem to spend their cash on 'capitalised development costs' (which seems to be a recurring cost to keep their products ahead of the competition) so they are effectively paying a div out of borrowings. In a very short space of time they have moved from a net cash surplus of around £15m to net debt and as they've only drawn £7.6m of a £25m facility, it looks as if they expect that to continue. The figures look OK on the surface, but where's the cash?
jeffian
02/3/2015
09:35
Well the market clearly liked it! I was waiting on these results but I must admit I am rather less enamoured than Mr. Market. I felt it was a reasonably solid statement but would like to see more improvements in cash generation and I agree with Pug....obsolete stock should be treated as a trading expense it is not an exceptional item.
salpara111
02/3/2015
07:57
Good summary Pug.
longshanks
02/3/2015
07:48
May add to my short here, 400p beckons IMHO.
itchycrack
02/3/2015
07:42
Results out: http://www.investegate.co.uk/dialight-plc--dia-/rns/final-results/201503020700191742G/ Both eps and dps below refs consensus of 38.4p and 15.3p PLUS what i do not like are "The Board concluded that a strict ageing over-ride should be added in addition to the existing usage formula. As a result the Group incurred a one-off charge of £2.8m. As the nature of this charge is non-recurring it has been treated as a non-underlying expense." This seems to me to be playing fast and loose with the figures - Depreciation of stock is (imo) a trading expense and not a write off to capital. However has been picked up in the detailed consolidated income statement which gives true eps of 29.2 (diluted) My worry here is could this sort of level of obsolete stock be an on going event ? Forward looking statement full of hope with no specifics - It will be interesting to see how the market treats - Possibility of a relief rally as not as bad as expected ?? However of stock write down is taken into account (as it should be) then worse than expected. (imo dyor etc)
pugugly
20/2/2015
13:54
Started to watch these, seem to be drifting, maybe baby .
redips2
17/2/2015
11:55
bright prospects.
careful
17/2/2015
11:51
Am also tempted at this level, but I note that EPS for 2015 is expected to increase to 45.7. This equates to a 25%+ increase on EPS they are likely to have achieved for 2014 Y/E. The PEG ratio of 0.63 also looks attractive, but am just unsure whether the EPS forecast for 2015 is realistic. On balance I think I'll wait for the FY figures and have a closer look at the outlook statement.
imranawan
17/2/2015
11:24
I must say, I'm sorely tempted at this level. My only reservation remains the concern about cashburn - they turned £15m net cash into 4.2m net debt in 22 months. Would like to see them go cash positive.
jeffian
17/2/2015
10:15
hTTp://citywire.co.uk/money/the-expert-view-bwin-party-fidessa-and-dialight/a798406?ref=citywire-money-latest-news-list#i=4
jeffian
13/2/2015
18:32
Chart looking dire, another big drop looming by the looks of it.
itchycrack
13/2/2015
12:32
They need to get a new CEO in and steady the ship. Having said that the first task of any new chief exec is to get all potential skeletons out of the closet, I have no idea whether they have any but the share price risk is to the downside for the next 3 months or so....unless their next update is unremittingly upbeat! I have this on my monitor but wont take any action until I see the next set of results.
salpara111
02/2/2015
23:16
Chart breaking down again, 400p next target IMHO.
itchycrack
22/1/2015
15:22
Agreed, no profits no business...just hoping the expansion pay dividends...obviously they haven't just blown the money.. Capex must be reined in at some point, divi may have to cut.. Investing hey.....even Buffet gets is wrong tesco's and IBM good picks...short term maybe.
beeezzz
22/1/2015
14:47
Aye, well they'll either have to stop 'investing', start earning a lot more or raise some fresh capital. It can't go on as it is.
jeffian
22/1/2015
12:18
Jeff.... I think you are missing the fact they have been investing a great deal in manufacturing expansion...plus have increased workforce considerably...especially their sales force...whether this has been fruitful only time will tell. I agree they have spent a lot of money, whether this huge investment pays off is difficult to say... the management are above average IMO when it comes to making investment decisions in new plant or R&D, they tend to know what they are doing.
beeezzz
21/1/2015
23:36
The other issue to watch is cash (see my 2766). They had £15m net cash at the beginning of 2013 and net debt of £4.2m 22 months later. That's the best part of £40m taking account of profits in the meantime.
jeffian
21/1/2015
16:24
Its difficult to say why brokers have different opinions regarding performance in 2014, we are still over a month from reporting so no one really knows... and the company surprise to the upside, just needs one big contract. I'm also been kicking myself with regard to letting profits slip away over the last couple of years, in say that, they are my best performing stock in my sipp which I might add is looking direr at present, I brought in Sept 2009, given them a good run may look to lock in some profits this year.
beeezzz
21/1/2015
12:59
cellars: Thanks for input. I cannot fault you (also agree with your last paragraph - I bought back in April 07 so I suspect you bought some 25-30p better than I. However we have both seen them substantially higher - I always have to kick myself to sell if I suspect the share price is going to continue falling and remind myself to lock in a profit (if there is one !! or minimise the los !!) The problem with DIA as we have both identified is that while revenue is growing profit growth is not as fast and competition in LED is increasing. Hence my difficulty in trying to assess a fair value and p/e - I suspect given pressure in the market place a forward p/e in the region of 14 might be more appropriate which if eps estimates for 2014 are correct would imply a share price closer to £5.80 - £6.00 (edited to correct based on refs 2014 estimated eps of 38.4p) .
pugugly
19/1/2015
18:41
Shorters taking advantage of a downgrade? About 4.5% of shares shorted by Ennismore, Blackrock etc.
tompion
19/1/2015
17:41
All looking good here.....led market has not even scratched the surface yet and dia are in a very highly regulated market place. Not sure about the last trade 19 shares a negotiated trade @742p your having a laugh.
beeezzz
19/1/2015
16:12
I meant PER of 16 in my last post
imranawan
19/1/2015
16:11
Not a current holder of Dialight but have been watching the share price for a while. I agree the current PE is too high at 20, but I think this should be in the bag based on the TU issued on Friday. Consensus broker forecasts for 2015 suggest 48 EPS which would bring down the EPS to around 16. I think any upside in share price is based on them increasing EPS by around 30%. Whether this is achievable or not I don't know, but I agree operating margins seem to have been squeeezed considerably in recent years.
imranawan
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