17 Oct 2016 09:19
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Don't have an account? Click here to register.Avanti Communications posts narrower first half loss
Thu, 04th Feb 2016 12:27
(ShareCast News) - Avanti Communications, which provides satellite data communications services, said its loss for the half year narrowed.For the six months to the end of December 2015, the loss narrowed to $45.5m (£31m) from $48m, on largely flat revenue of $31m compared with $31.1m in the same period a year earlier.Avanti won $40m of contracts mainly with government and large telecoms customers in the second quarter, which it reckons will make a strong contribution to second half revenue.The company said its expectations for 50% growth in continuing revenue at constant currency in the full 2016 financial year are supported by recent order wins.Chief executive officer David Williams said: "Our growth prospects are supported by both our recent order wins and a very strong pipeline of near term opportunities that are in advanced stages of negotiation."Avanti is strongly capitalised with more than adequate cash headroom. In a pioneering market, the combination of a good product, good customers and a fully funded model assures us that Avanti has a successful trajectory ahead."At 1230 GMT, Avanti shares were down 9.8% to 124.50p.
More News
16 Sep 2016 08:02
BUZZ-Avanti: plans debt issue to address liquidity needs, shares rally
** Satellite communication services provider Avanti Communications shares up 9.5%, best day since August ** Co says begun process to pay debt due in Oct. through debt issue which matures in 2019, to address liquidity issue ** Co sees rev growth 35-40 pct over next 2-3 yrs ** 45%
Read more5 Aug 2016 15:36
Avanti offers little explanation as share price surges
(ShareCast News) - Satellite data communications services company Avanti Communications issued a statement on Friday afternoon, as its share price surged. The AIM-traded firm offered little explanation in its two-line release, however, as its stock shot up more than 35% to 44p. "As announced on 11
Read more1 Aug 2016 07:28
Inmarsat shuns bid for debt-laden Avanti
(ShareCast News) - Inmarsat has passed up the opportunity to make a bid for cash strapped smaller rival Avanti Communications, which put itself up for sale last month. Inmarsat responded to Avanti's advisers when they made contact as part of the AIM company's strategic review and formal sale proc
Read more9 May 2016 15:03
11 Mar 2016 10:15
Avanti signs capacity deal for HYLAS 4 satellite
(ShareCast News) - Data communications outfit Avanti said it had signed its first pre-launch contract for capacity on the HYLAS 4 satellite. Avanti said it will supply Bentley Walker, one of its key existing customers, with capacity on HYLAS 4 across Sub-Saharan Africa in a $1m commitment. HYLAS 4
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