What: Shares in Dialight (LSE: DIA) fell by more than 25% in early trade this morning, following a trading update from the lighting and signals specialist.
So what: Despite industrial lighting sales growing by 50% in the year, management had indicated in its November interim statement that “the precise timing of Industrial Lighting orders remained difficult to predict”, and shareholders’ fears were realised as it was announced today that a late receipt of almost £3m worth of lighting orders will lead to missing previous expectations.
As with so many companies skewed towards retail, the fourth quarter is all-important as it is “seasonally strong”, so the shortfall will be a blow to Dialight.