Ethernity Net Share News (ENET)

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0.0012 -0.0002 (-14.29%)

Bid:

0.001

Ask:

0.0014

Spread: 0.0004 (40.00%)

Market Cap: £12.00k

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

Thu, 29th Jun 2023 14:25

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.

Chief Executive David Levi says: "The support we have provided to this customer over the past seven years has not only led to this expansion of their business but also to ongoing development toward a second-generation FWA base station node. There is clearly significant value in our collaboration with our customers, as demonstrated by this order."

Current stock price: 2.42 pence, up 16% in London on Thursday afternoon

12-month change: down 85%

By Heather Rydings, Alliance News senior economics reporter

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