FY17 results were in line with the guidance reset by management in Q417, with cash performance ahead of expectations. The outlook for FY18 has some acceleration in organic sales growth, tougher FX assumptions, higher investment levels and the adoption of new accountings standards. Combined, this trims our revenues and margins estimates modestly. The proposed merger with Sparton Corporation has been terminated following the outcome of the anti-trust review in the US. While not ideal, US demand
08 Mar 2018
Ultra Electronics - Termination of Sparton acquisition process
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Ultra Electronics - Termination of Sparton acquisition process
- Published:
08 Mar 2018 -
Author:
Andy Chambers -
Pages:
6
FY17 results were in line with the guidance reset by management in Q417, with cash performance ahead of expectations. The outlook for FY18 has some acceleration in organic sales growth, tougher FX assumptions, higher investment levels and the adoption of new accountings standards. Combined, this trims our revenues and margins estimates modestly. The proposed merger with Sparton Corporation has been terminated following the outcome of the anti-trust review in the US. While not ideal, US demand