Ethernity Net Share News (ENET)

IN BRIEF: Ethernity to move New York shares to Pink Open Market

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Shares will cease trading on the OTCQB Venture Market in New York from Friday, instead trading on the Pink Open Market operated by OTC Markets, also in New York. Says primary listing will remain on AIM in London. Ethernity shares were admitted to trading on OTCQB in September last year, with the company saying it decided to transfer to the Pink Open Market "due to the absence of perceived benefits for Ethernity's shareholders from the OTCQB listing, and the excessive resources it entailed". Says US-based shareholders will, via trading on the Pink Open Market, continue to have access to a platform for trading Ethernity shares.

IN BRIEF: Ethernity Networks hails progress on delayed contracts

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Provides an update on two contracts previously announced in October 2021, for a wireless backhaul solution, and November 2022, for a broadband wireless access solution. Contracts have a combined value of USD740,000. Company has experienced delays with these contracts, with the customers unable to deliver the required hardware to the company. Says it has now been notified by the two customers that they intend to deliver their prototype hardware during the final quarter of 2023. Once delivery of the hardware has taken place, the company will be able to complete the contracts and invoice for the remaining balance of USD550,000. Contracts are now expected to be fulfilled during the final quarter of 2023 and the first quarter of 2024.

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TRADING UPDATES: RentGuarantor loss widens, Journeo revenue soars

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

TRADING UPDATES: Barryroe hires examiner in bid to avoid liquidation

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

IN BRIEF: Ethernity finance chief to step down with mutual consent

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Chief Financial Officer Mark Reichenberg to step down after mutual agreement from Monday next week. Says it has begun an internal and external search for a suitable successor and will make a further announcement in "due course". In the mean time, Vice President of Finance Ayala Deutsch will manage CFO duties on an interim basis.

IN BRIEF: Ethernity Networks shares down despite narrowed annual loss

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Posts revenue of USD2.9 million for 2022, up 12% from USD2.6 million in 2021. Pretax loss narrows to USD8.0 million from USD9.2 million, as financing income rises to USD1.3 million from USD228,404 a year earlier. Loss before interest, tax, depreciation and amortisation widens to USD6.4 million from USD5.1 million. Looking ahead, notes that first six months of the current year have presented unexpected challenges, due to "delays in expected orders from existing customers".

IN BRIEF: Ethernity Networks shares jump on USD1.5 million order

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Receives a USD1.5 million purchase order from an unnamed existing fixed wireless customer to supply the company's processing system-on-chip in staged deliveries during the third quarter of 2023. The payments for the deliveries are also to be received in stages, with the last payment due by the end of the third quarter. Consequently, the order contributes towards the company's revenue targets for 2023.

IN BRIEF: Ethernity Networks says 2023 revenue target "achievable"

Ethernity Networks Ltd - Israel-based supplier of data processing semiconductor technology for networking appliances - Says it has secured the supply of components required to fulfil deliveries under contracts announced in October 2021 and September 2022. Company had expected USD4.2 million from these contracts would be recognised in 2023. Now thinks that USD3.3 million of the USD4.2 million can be recognised under these contracts in 2023. However, subject to securing the necessary components during the second half of the year, the company still expects to be able to recognise the balance of the USD4.2 million of revenue under these contracts in 2023. Says this will largely contribute to the targeted USD9 million in revenue for 2023 which the directors believe is "achievable."

TRADING UPDATES: Ethernity secures components to fulfil orders

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

TRADING UPDATES: Catenae hails court; Golden Metals likes copper find

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Ethernity Networks GBP750,000 fundraise, confident of sales visibility

(Alliance News) - Ethernity Networks Ltd on Thursday announced plans to raise GBP750,000 via a placing of 25 million shares at 3 pence each.

IN BRIEF: Ethernity Networks' contracts on track to deliver

Ethernity Networks Ltd - Israel-based supplier of data processing semiconductor technology for networking appliances - Updates on the fulfilment of contracts with an Asian broadband network OEM customer.

Ethernity upbeat on progress with Asia-based customer

(Sharecast News) - Networking semiconductor supplier Ethernity Networks updated the market on its contracts with its Asia-based broadband network original equipment manufacturer (OEM) customer on Monday.

UK shareholder meetings calendar - next 7 days