Dialight – 2023 results, anything to do with the CEO “step down… with immediate effect”?…

Describing itself as “a global leader in sustainable LED lighting for industrial applications”, Dialight (DIA) has announced results for the 2023 calendar year including emphasising “stronger performance in the second six-month period… net debt at 31 December 2023 reduced to £12.3m… remains confident in the refreshed strategy and the medium-term benefits of the transformation project”. So what of a current 154p share price, down from approaching 240p in September?

Dialight – reckons after 10 years as a director of the company, CEO and board both decided on the same day that the CEO would leave!

Considering itself a “global leader in sustainable LED lighting for industrial applications”, Dialight (DIA) has announced a CEO change with non-executive director Steve Blair to now become CEO as “by mutual agreement with the board, Fariyal Khanbabi has decided to step down as Chief Executive Officer and as a director of the company with immediate effect”. So the board and Fariyal both just decided, after 10 years as a board director, on the same day that Fariyal would leave did they?!

Dialight (#DIA) – CEO Fariyal Khanbabi “has decided to step down… with immediate effect”!, NED Steve Blair to become CEO

Dialight (#DIA) – Sanmina litigation court judgments fully released, to “continue to rigorously pursue its claims”

Dialight – discounted equity raise for “transformation plan” (though is it for that?) & including REX offer as it “values its retail shareholder base” (though does it?)…

Previously writing on LED lighting for industrial applications company Dialight (DIA), in May with the shares down to 212p I noted previously increased to £20.9 million net debt and concluded, with also stated “risk posed by the current economic uncertainty”, that sceptical of the extent of its expected second half weighting, to Avoid. What now of an “equity issue” at 159p per share?

Dialight (#DIA) – raises £10.55m at 159p per share

Dialight (#DIA) – CFO Clive Jennings “stepping down… with immediate effect”

Dialight (#DIA) – H1 swing to loss, states transformation plan to be initiated in H2 but trading below prior expectations

Dialight – AGM trading update, how likely really is full-year ‘in line with expectations’ now?

LED lighting for industrial applications company Dialight (DIA) has issued a trading update including “strong Maintenance Repair and Operations demand”, that it has “identified a number of cost improvements that will take effect in the second half” and that its “expectations for the year remain unchanged… leading sustainability products, growing market share and significant market opportunity”. So what of a current 212p share price, down more than 7% in response?

Dialight – to “now rigorously pursue its claims to trial”, good news?

LED lighting for industrial applications company Dialight (DIA) has issued a litigation update announcement including that “following the court's examination of the evidence supporting Dialight's fraudulent inducement claim against Sanmina, and of other related matters, Dialight will now rigorously pursue its claims to trial. If Dialight's claims are successful at trial, the range of outcomes could include the payment by Sanmina to Dialight of between $0 and c. $220m (excluding legal costs and judicial interest)”. So what of a current few percent higher share price today to 205p?

Dialight – after stating in mid-December “trading expectations… remain unchanged” for 2022, what of now a profit warning?!

Previously writing on LED lighting for industrial applications company Dialight (DIA), in November with the shares at 305p I concluded including that there can be no great confidence in expectations for the full year remaining unchanged. On 14th December the company announced that Chair Karen Oliver was to “step down” at the end of the month but that its “trading expectations for the year ending 31 December 2022 remain unchanged”. So what of the shares currently down more than 16% today at 266p on the back of a “trading statement”?

Dialight (#DIA) – December “significantly below” expectations, profit warning

Dialight – emphasises “positive” trading momentum, but how positive and how’s the outlook?

Describing itself as a “global leader in LED lighting for heavy industrial applications”, Dialight (DIA) has issued a trading statement commencing that it “has seen positive overall trading momentum continue into the second half, with group revenue in the period up 35% (CCY 23%) over the prior year comparator”. That sounds good, but revenue is, of course, vanity – what’s the bottom-line situation?

Dialight (#DIA) – FY expectations currently “unchanged” but cautions of economic backdrop and supply chain risks

Dialight – emphasises “profit doubling”, but what about cash flow?

Describing itself as “the global leader in sustainable LED lighting for industrial applications”, Dialight (DIA) has announced half-year results emphasising “revenue growth of 27% at constant currency over the prior period comparator… profit doubling to £3.1m… order book, 4% ahead of last year and marginally ahead of December 2021”. So what of a share price currently up to 295p?

Dialight – states “traded well”… but does that mean any net cash generation?

Describing itself as a “global leader in LED lighting for heavy industrial applications” Dialight (DIA) has issued an AGM trading statement including that it “has traded well… Longer term we are increasingly confident of our prospects given our leading sustainability products and significant market opportunity”. So what of a share price currently up to 336p?...

Dialight – 2021 results, was my supply chain and net debt caution justified?...

Previously writing on the company which describes itself as “the global leader in sustainable LED lighting for industrial applications” Dialight (DIA), in November with the shares at 325p I noted net debt and supply chain caution after half-year revenue +9% to £60.2 million and net debt up to £12 million. So what of now the full-year 2021 results?...

Dialight (#DIA) – 2021 results, net debt up but argues inventory build and 2022 started well

Dialight – “expectations for the year remain unchanged”. Do they?...

Previously writing on the company which describes itself as “the global leader in LED lighting for heavy industrial applications” Dialight (DIA), in August with the shares up to 332p I concluded I’ll continue to monitor the company’s recovery potential but, with also continuing “impact of component shortages, extended lead times and logistical challenges”, I continued to avoid. Today a trading statement which commences “The group has traded well in the period, quoting activity has significantly increased with a greater number of capex projects. Order intake year to date was up 34%, driven by a strong performance in the Lighting segment”, so why are the shares currently slightly further lower to 325p?...

Dialight (#DIA) – FY expectations “unchanged”, though ongoing supply chain challenges