November 6, 2008, Hod Hasharon, Israel - Leadcom Integrated Solutions Ltd. ('Leadcom' or 'the Company'), (AIM: LEAD), a leading international provider of innovative telecommunication solutions, announced today that it plans to report its third quarter results on November 26, 2008.
The Company expects revenues for the third quarter to be approximately $70 million, in line with management's previous expectations. It expects to report continued sequential improvement in its adjusted operating profit margin, offset by a sharp increase in finance expenses, due to the strengthening of the US Dollar against most of its working currencies, as well as a decrease in value of its securities portfolio, as a result of the downturn in the financial markets. Although some of these financial expenses are non cash expenses, the Company expects to report a net loss and negative cash flow from operating activities in its third quarter results.
Looking forward to the fourth quarter of 2008, the Company expects lower revenues than previously expected. In view of the challenging and changing market conditions, the Company is being increasingly selective about projects it undertakes, with a greater focus on financial risk management. Consequently, the Company expects its revenues for the year ended 31 December 2008 to fall short by less than 10% compared to the previously communicated number.
For further information, please contact:
Ayelet Shaked - Leadcom
Tel: +972 9 769 0100
Andrew Godber – Panmure Gordon (UK) Limited
Direct: +44 (0) 20 7614 8385
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