LONDON (dpa-AFX) - Dialight plc (DIA.L), a UK-based electronics business, said that trading performance for the third quarter ended 31 December 2024 was slightly ahead of its expectations. The business traded profitably and generated positive operating cash flow. The Board remains confident that further progress will be made during the rest of the financial year.
The company noted that early progress of the Transformation Plan, reported with the Interim Results in November, continued to gain momentum in the third quarter. This progress enabled the company to introduce its fifth Transformation Pillar, creating a platform for future growth.
Meanwhile, Dialight said it has reached an agreement in principle with its former manufacturing partner, Sanmina Corp. (SANM) to resolve their litigation.
Under the settlement terms, Dialight will pay Sanmina $12 million in full and final settlement of all claims between the parties. This payment will be made in instalments, with the initial payment of $4 million due by 31 March 2025, followed by eight instalments of $1 million each, paid at the end of each subsequent calendar quarter until 31 March 2027.
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