Edison Investment Research - Solid State (SOLI) Update: MoJ contract terminated

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Edison Investment Research

Update: MoJ contract terminated

Solid State has unexpectedly announced that the Ministry of Justice (MoJ) has terminated its contract. This has no impact on our FY16 and FY17 estimates, which already took a prudent view with regards to resuming deliveries under the contract. The share price has, in our opinion, overreacted to the news, ignoring the diversified platform that is able to deliver modest profit growth next year despite this negative development.

26/02/2016 3 EN

Underlying

Solid State

Solid State manufactures electronic equipment and distributes electronic components and materials. Co. has two divisions: Distribution, which is a distributor serving the needs of the electronics original equipment manufacturer community in the U.K. and products provided include those for the internet of things, embedded processing, control, wireless and wired communications, power management, and light-emitting diode lighting from manufacturers; and Manufacturing, which is engaged in the design, development and supply of rugged and industrial computers, portable power and energy storage solutions, communication systems, antennas and high bandwidth video transmission products.

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GB0008237132 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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