Ethernity Net Share News (ENET)

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0.0012 -0.0002 (-14.29%)

Bid:

0.001

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0.0014

Spread: 0.0004 (40.00%)

Market Cap: £12.00k

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IN BRIEF: Ethernity Networks' contracts on track to deliver

Mon, 06th Mar 2023 17:52

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.

Says USD3 million contract announced in October 2021 remains on track to record the majority of the revenues under the deal during the course of 2023. Anticipates revenues under USD4.6 million contract announced in September 2022 will be recorded during 2023 and 2024. Receives second order under this contract for 5,000 of its Gigabit PON OLT fibre controller with shipments ready in the third quarter.

Sees growing interest from multiple OEMs for its fibre controller devices and PON systems over and above the current signed contracts. Plans to target sales of licensing fees for the PON fibre controller SoC and sales of its PON fibre controller OLT system in various configurations.

Current stock price: 7.50 pence, up 3.5%

12-month change: down 67%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com