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Dialight – argues “good growth prospects”… what about being in a position to deliver on them?

2018-04-18 00:10:49

Previously writing on Dialight (DIA) on the back of 2017 results with the shares at 532p, I concluded that the valuation in conjunction with manufacturing issues saw me continue to avoid. The shares previously closed at 524p and there’s now an AGM trading update

Dialight – 2017 results, argues “confident of delivering future growth” – but is this justified?

2018-02-26 08:09:41

Industrial LED lighting technology company, Dialight (DIA) has announced results including “we remain excited by the group's prospects over the medium to long term and are confident of delivering future growth”. Hmmm, what about now then?...

Dialight – “significant disappointment” with recent product delivery performance, CEO ‘steps down’

2018-01-10 01:20:52

Previously writing on industrial LED lighting technology company, Dialight (DIA) I noted failure to deliver on addressing outsourced manufacturing issues. There’s this week been a “Directorate change, Trading update and outlook” and two “Director/PDMR Shareholding” announcements…

Dialight – after October profit warning, a 1:36pm “Trading Statement” & broker update

2017-12-16 01:05:02

A 23rd October Trading Update from industrial LED lighting technology company Dialight (DIA) was an outsourced manufacturing issues profit warning, though included Chief Executive Michael Sutsko stating they “are being addressed over the coming months”. There’s now been a Trading Statement… at 1:36pm (and a broker update)…

Dialight – “Trading Update” = outsourced manufacturing issues profit warning

2017-10-23 06:39:40

Previously writing on Dialight (DIA) with its shares having recovered to above 1100p, I noted that suggested I’d been too cautious on it recently but that I considered the valuation excessive – and to leave precious little margin for error. The shares had since retreated to close last week at 815p – and there’s now a trading update noting “short-term production challenges”

Dialight – 2016 results review as share price recovery continues

2017-03-07 01:05:44

Previously writing on LED lighting technology company Dialight (DIA) I noted somewhat of a share price recovery to 759.5p, but that ahead of the results for the 2016 calendar year I avoided. The following now reviews post those results – and with the shares having risen further…

Dialight – now targeting “materially ahead of expectations”. But…

2016-12-07 01:14:10

LED lighting technology company, Dialight (DIA) has updated that “following a good November performance and looking forward to the prospects for December, the group is now targeting an underlying EBIT (including FX) for the year ending 31 December 2016 materially ahead of expectations”. But…

Dialight – despite update that trading “remains in line”, shares down…

2016-11-04 01:07:24

Previously writing on LED lighting technology company Dialight (DIA), I was bearish on the back of its half-year results in August. The shares have since risen, but are currently 5% lower, at 675p, on the back of a “Trading Statement” announcement…

Dialight – half-year results, board “confident” but will FY expectations really be met?

2016-08-02 23:49:05

LED lighting for industrial and hazardous applications-focused, Dialight plc (DIA) has announced half year results emphasising “underlying operating profit” up from £1.7 million to £4.2 million, though showing a statutory loss before tax of £7.1 million, from breakeven. Hmmm, let’s take a look…

Dialight plc – full-year 2015 trading update, blackout the PR spin…

2016-01-15 05:06:40

Dialight plc (DIA) has updated that although revenue growth has been “impacted”“the board expects to report underlying operating profit in line with consensus market estimates for the year ended 31 December 2015”. Er, where’s the mention of the impact on market estimates of the dire profit warning you made in June chaps?...

More dire shite from Dialight - “Strategic Review and Trading Update”...

2015-10-27 04:55:31

Another doff of the cap to Matt Earl who recently reminded that shares in Dialight plc (DIA) were more expensive that you’d think HERE. A “Strategic Review and Trading Update” announcement from the company today currently sees the shares down approaching 15% at 570p…

Dialight... more expensive than you think?

2015-10-19 02:40:44

Dialight (DIA) has defied gravity of late. I wonder if buyers realise how expensive it likely is. Bloomberg consensus earnings expectations for full year 2015 are set at 21.7p per share. That would suggest DIA trades on a relatively pricey 32x this year's earnings. But it's likely no where near that cheap. 

Dialight plc – shorters remain as 'cost reduction actions' taken

2015-08-14 03:30:07

Having crashed well below 500p on a 27th July interim results announcement, shares in Dialight plc (DIA) have maintained recovered levels of around 550p following an announcement of “Cost Reduction Actions”. What’s the current view here?

Dialight plc – “disappointed by the half year results”, so what now?

2015-08-03 03:55:26

Having extensively warned on shares in Dialight plc (DIA) and most recently HERE, they crashed well below 500p on a 27th July interim results announcement, though have now recovered to around 550p. What’s the outlook now here?

Dialight plc – you were warned…

2015-06-10 04:10:09

At around 950p less than a year ago, I concluded that shares in Dialight plc (DIA) looked “overvalued. And then some.” (see HERE). I then updated in April, at 755p, on an AGM trading update I considered more misleading than informing (see HERE). I now update with the shares currently down more than 30% on the day at around 500p.

Dialight – AGM trading update more misleading than informing

2015-04-15 03:40:45

Despite updating that “demand for our market-leading products within the Lighting segment remained strong and group revenue growth for the quarter exceeded management expectations”, shares in Dialight plc (DIA) currently trade more than 5% lower today, at 755p. The following reviews why…

Dialight ... here we go again?

2014-12-17 09:19:13

I reckon Dialight (DIA) is a grossly overvalued business. All I see is a business capitalised at £255 million, with little in the way of IP, and a dismal record of free cash flow generation. For example, on my calculations it achieved a free cash outflow of £4.6 million in 2013, as compared to a paltry free cash inflow of £2.5 million in 2012. 

Dialight plc – interim results, cash flow improvement still needed?

2014-07-29 06:50:05

Shares in applied LED technology company Dialight plc (DIA) continue to trade well below the 1400p September 2013 highs, but at around 950p have also recovered meaningfully from the 700p levels to which they were reduced on an early 2014 profits warning. After the results announced last week, I take a look at the figures for the first half of 2014.

Dialight plc – current trading “in line”, but is a recovery sufficiently proven?

2014-04-16 13:57:16

Producer of retro-fittable lighting fixtures applying leading edge LED technology, Dialight (DIA) has updated that trading in 2014 to date “has been in line with the board's expectations” and that “despite currency headwinds from the translation of US results, the outlook for the group for the current year remains unchanged”. I provide the following update, with the shares having nudged ahead to a current 940p – compared to almost 1400p reached in September, and well ahead of the 700p hit in January.

Dialight plc – brokers remain positive, but should some cash flow trends temper enthusiasm?

2014-02-25 12:00:35

Following its announcement yesterday of results for the 2013 calendar year, shares in Dialight plc (DIA), which produces retro-fittable LED lighting fixtures designed specifically for hazardous locations, obstruction signals and traffic signalling, closed slightly higher at 779p. The following details that brokers remain positive but also some financial trends which temper my enthusiasm.

Dialight plc – 2013 results emphasise recovery potential, but remains a speculative buy

2014-02-24 13:19:57

Dialight plc (DIA), the LED technology specialist, has announced results for the 2013 calendar year, which show “profit at a level that was lower than expectations”. ​It goes on to say it “expects to drive strong Lighting growth for 2014 and the years to come. This, combined with a stabilization of the Signals business leads the board to expect a return to earnings growth in 2014”. The shares now trade a few percent lower at 750p.

Dialight: Sell - Likely Near Term Floor Towards 600p

2014-01-08 12:33:56

Congratulations to Tom Winnifrith, the dark destroyer Matt Earl and Lucian Miers who called this one bang on the money as a sell at 1200p on this website. Fundamentalists do it it right now and again. 

Dialight plc - are directors 'bravado buying' or signalling recovery?

2013-11-14 17:59:08

Having updated last week that it “expect(s) underlying profit before tax from continuing operations to be broadly in line with the prior year”, LED technology-applying company Dialight plc (DIA) has this week announced director share purchases of £99,461 and £90,000 at 915p per share and 900p per share respectively. Do these look like ‘bravado buys’ or something more?

Dialight Trading Statement – Evil Knievil delighted: it ain’t good

2013-11-07 07:43:33

Bear raider Evil Knievil started shorting LED Company Dialight (DIA) at 1200p three weeks ago and I wrote at the time that I agreed 100% with his analysis. The stock has opened down 33p at 1033p today after a less than impressive trading statement. Evil says he is “delighted”. We both expect the shares to slump to 600p in due course. Here’s why. 

Top forensic analyst Matt Earl plunges the knife into Dialight

2013-10-21 10:41:57

Top forensic analyst Matt Earl has gone short of Dialight (DIA) and plunged the knife into the company with a withering attack. Earl was the man who called Connaught down to nil when all other analysts said buy and who has produced outstanding analysis on the woes of Avanti Communications (AVN). His Dialight report is a classic.

Evil Knievil short of Dialight at 1200p – target 600p & I agree

2013-10-15 10:00:18

Bear raider Evil Knievil and I have had a long chat this morning about Dialight (DIA) of which he is short. The core analysis here comes from Matt Earl – the nemesis of Avanti (AVN) who has got to be the UK’s top forensic analyst and has just signed up to the UK Investor show as a star speaker.

Dialight plc - (not altogether surprising) profit warning

2013-09-12 05:57:02

Shares in leading-edge producer of LED lighting fixtures for hazardous locations, obstruction lighting, traffic and rail signalling and general industrial application, Dialight plc (DIA) currently trade around 14% lower on the day on the back of the company now not expecting some significant 'obstruction system' business to be awarded in time to sufficiently impact the current financial year…

Dialight plc - maiden cellphone tower system order 'encourages', but enough?

2013-08-01 04:58:46

FTSE-250 leading-edge LED technology utilising producer of lighting fixtures for hazardous locations, obstruction lighting, traffic and rail signalling and general industrial application, Dialight plc (DIA) has announced a maiden, initially “just less than $1 million”, order for its new Cellphone Tower Remote Monitoring and Lighting system “from a major operator in North America”. Post my review of the company’s interim results last month (see HERE), the following updates…

Dialight plc - interim results, is the (very) good news in the price

2013-07-23 05:50:06

FTSE-250 LED technology (to reduce industrial maintenance, save energy, improve safety and ease disposal) company, Dialight (DIA) has announced a first half of 2013 underlying pre-tax profit from continuing operations of £5.4 million on revenue 12.8% higher than in the comparative prior year period, at £59.9 million, generating underlying basic earnings per share of 11.6p, down from 17.3p... Consensus estimates for the full-year were for earnings per share (2012: 41.7p) of more than 51p – which looks a big ask given the half-year performance...

Dialight plc - does trading update disappointment provide a glimmer of share price value?

2013-06-11 09:36:42

Following a trading update in April I commented that FTSE-250 constituent Dialight plc (DIA) was a high quality business but that ‘the high price-earnings multiple means that the shares are currently vulnerable to any even minor disappointment from the company or adverse change in stock market sentiment’. The shares then traded at approaching 1300p. On the back of a trading statement today, the shares currently trade approaching 13.5% lower on the day at 1158p.

Dialight - trading update & a new business being established but is all already reflected in the share price?

2013-04-26 03:25:51

Dialight plc (DIA) has for a while been a favourite of star fund manager Mark Slater and the shares have proved a hugely rewarding investment over recent years – up from little more than 100p in early 2009, sub 700p at the start of 2012 and just over 1000p in some of the early days of 2013 to a current almost 1300p.

Dialight plc – an enlightening growth story?

2013-03-08 12:00:01

Dialight plc (DIA), a FTSE 250 constituent focused on solid state lighting technology for industrial application, traffic and obstruction signals and components for status indication and residual disconnect components for automotive and niche industrial application, last week announced results for the 2012 calendar year. These have helped the shares – up from only just over 100p late 2008 lows – further higher; from a 1,165p close prior to the results announcement to a current 1,300p. Capitalising the company at approaching £418 million, the following reviews the results and the value on offer here…




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