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UPDATE 1-Filtronic FY oper profit falls

Mon Jul 27, 2009 3:12am EDT

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* Adj op profit 2.1 mln stg vs 2.5 mln stg a year ago

* Profit 11.7 mln stg vs loss 14.6 mln stg last yr (Adds details)

July 27 (Reuters) - British telecoms technology firm Filtronic Plc (FTC.L) posted lower full-year operating profit, due to a weak demand in the second half caused by general destocking and a key customer who saw a significant downturn in Asian sales.

Operating profit before exceptional items was 2.1 million pounds ($3.5 million) for the year ended May 31, compared with 2.5 million pounds in the previous year.

The company, whose products are used in wireless communication equipment, said overall revenue for the year fell 28 percent to 28.8 million pounds.

Profit was 11.7 million pounds versus last year's loss of 14.6 million pounds, reflecting the gains on the sale of its UK defence business and the proceeds from the onward sale of Australian wireless infrastructure in 2005.

The sale of the UK defence business to Teledyne was completed in August, generating a gain of 8.4 million pounds.

An amount of 1.9 million before tax was received in July, related to the sale of the wireless infrastructure business in Australia, the company said.

Filtronic shares closed at 36.50 pence on Friday on the London Stock Exchange. ($1=.6083 Pound) (Reporting by Purwa Naveen Raman in Bangalore; Editing by Gopakumar Warrier)



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