We have consistently backed the quality of Dialight’s products and the turn-round strategy set out by management. While the product re-engineering along platform/modular lines appears to have gone well, the final stage of outsourcing to a manufacturing partner is proving more difficult, resulting in a loss of visibility of the growth and margin trajectory. Our forward estimates have been reduced by c.40% at the PBT and EPS levels resulting in the shares trading on a 2018 EV/EBITDA of 9.5x, a mar ....
24 Oct 2017
N+1 Singer - Dialight - Outsourced manufacture hits the ramp
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N+1 Singer - Dialight - Outsourced manufacture hits the ramp
Dialight plc (DIA:LON) | 159 0 0.0% | Mkt Cap: 63.6m
- Published:
24 Oct 2017 -
Author:
Trevor Griffiths -
Pages:
5
We have consistently backed the quality of Dialight’s products and the turn-round strategy set out by management. While the product re-engineering along platform/modular lines appears to have gone well, the final stage of outsourcing to a manufacturing partner is proving more difficult, resulting in a loss of visibility of the growth and margin trajectory. Our forward estimates have been reduced by c.40% at the PBT and EPS levels resulting in the shares trading on a 2018 EV/EBITDA of 9.5x, a mar ....