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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."
Current stock price: 2.70 pence
12-month change: down 85%
By Heather Rydings, Alliance News senior economics reporter
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