Fact Sheet

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Ticker: LSE: SPT
Sector: Technology Hardware & Equipment

Description of the Business

Spirent is a global leader in test and measurement inspiring innovation within development labs, communication networks and IT organisations. Spirent’s activities are organised into two operating groups Spirent Communications and Systems. Spirent Communications plc employs c. 1,450 people worldwide.

Our Business at a Glance

Performance Analysis - 2009 Revenue $316.8m

Spirent puts innovation to the test. With a concentration on Ethernet, mobility and satellite positioning as well as the applications that enrich these networks, Spirent’s Performance Analysis division facilitates device and network testing from the research and development stage to the launch of communications networks and services. We push the limits of these networks, their elements, mobile and satellite positioning devices, and applications by allowing equipment makers and service providers to subject their offerings to lab-based conformance and performance testing simulating real-world conditions before a commercial launch. This approach accelerates time to market and improves the quality of the products and services our customers bring to market.

Service Assurance - 2009 Revenue $52.6m

Spirent’s service assurance solutions allow service providers to diagnose, troubleshoot and determine how to resolve issues with networks and systems within the live network. Service providers rely on Spirent to provide centralised and field test tools to improve the quality of service and allow technicians to efficiently prevent or resolve issues from the core of the network to inside the consumer’s home.

Systems - 2009 Revenue $57.8m

PG Drives Technology is a leading supplier of sophisticated electronic control systems for electrically powered vehicles in the mobility and industrial markets. These include medical vehicles such as powered wheelchairs and mobility scooters as well as industrial vehicles such as floor cleaning vehicles, fork-lift trucks, aerial access platforms and golf carts.

Management

Bill Burns, Chief Executive Officer

Bill Burns was appointed Chief Executive Officer on 6 November 2008, having previously led the Group’s Communications division. He is responsible for overall leadership, strategy, investments, coordination of resources and leveraging Spirent’s breadth and depth of technology across all of Spirent’s business units.

Eric Hutchinson, Chief Financial Officer

Eric Hutchinson was appointed Finance Director on 1 January 2000, having previously been responsible for all financial reporting and control within the Group. He is a Fellow of the Chartered Association of Certified Accountants, and a member of the Financial Reporting Review Panel.

Key Financials

$ million	H1 2010	2009	2008
Revenue	227.2	427.2	477.1
Reported operating profit	49.0	86.8	90.1
Reported profit before tax	48.8	84.9	91.8
Basic earnings per share (cents)	5.08	13.67	18.74
Adjusted bascis earnings per share1 (cents)	4.92	10.84	11.54
Interim dividend per share2 (cents/pence)	1.10/0.69	1.93/1.21	1.85/1.10

Notes
1. Before prior year tax and excluding in 2009 the benefit of a change in estimate in respect of the recovery of deferred tax assets.
2. Dividends are determined in US dollars and paid in sterling at the exchange rate prevailing when the dividend is declared. 
 

Share Price Information

Share price*	125.00p
52-week closing price range	69.10-134.60p
Shares in issue with voting rights	675m
Market cap*	£844m
*at 6 August 2010

 

Major Shareholders**

% held
BlackRock Inc	17.58
Prudential plc	10.96
Ameriprise Financial, Inc	5.70
AXA Group of Companies	5.60
Standard Life Investments Ltd	5.21
Artemis Investment Management Limited	5.19
Aviva plc	4.56
Legal & General Group plc	3.91
Sun Life Assurance Company of Canada (UK) Ltd	3.46
Hermes Equity Ownership Services Limited	3.27
Deutsche Bank AG	3.22
**at 5 August 2010