Ethernity Net Share News (ENET)

(Sharecast News) - Data processing solutions business Ethernity said on Monday that it expects an upswing in 5G deployment to boost revenues and help it record "positive cash flow generation" in 2021.
Ethernity expects revenues to grow roughly 20% year-on-year, as costs fell 5% in the second half of the year.

The AIM-listed group also said it anticipates receiving orders for new design projects from existing customers in the second quarter of 2020, although contracts with tier one original equipment manufacturers that were pegged to close in the first two months of the year had been delayed as a result of "issues outside the company's control".

Ethernity highlighted some "growing demand" from Chinese telco firms for its solutions based on FPGA and said it was now working with several major Chinese original equipment manufacturers to help integrate its products into their networks.

Chief executive David Levi said the application of Ethernity's software represented a "long-term revenue opportunity" of "significantly more value" than intellectual property or project business opportunities.

As of 1340 GMT, Ethernity shares were up 1.10% at 46p.