Laird reports strong start to the year in line with expectations
Laird, supplier of wireless connectivity and radio frequency engineering, said first quarter revenue grew 24% to £149m in line with its expectations.
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Performance Materials revenue rose 31% to £97m, including the contribution from Model Solution, which was acquired in April 2014.
The strong performance of the business division was supported by demand from smartphone customers and the PC and notebook segments. Revenue from gaming consoles and tablets, however, was lower.
Revenue at the Wireless Systems unit increased 13% to £52m, driven by growth in telematics/machine-to-machine on the back of higher demand from automotive customers and for the company;s 'smart' M2M antennas.
David Lockwood, chief executive of Laird, said: "The year has started well, with good growth in our business. We have some visibility on new products to be launched by customers in the second half of the year, which underpins our current full year outlook. We are confident that our strategy will continue to create value for our customers and our shareholders."