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Ethernity Net (ENET) Share News

IN BRIEF: Ethernity suspended from AIM after "challenging" months

12th Oct 2023 14:39

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Announces application to court in Tel Aviv for a temporary suspension of proceedings order and to convene a meeting of creditors. Also announces temporary suspension of shares from trading on AIM, effective Thursday. Says it has faced significant challenges in recent months, including "a significant and unexpected increase in cost and lead-times" of essential components, following a global shortage caused by Covid-19. Several customers also have experienced pandemic-related financial difficulties, making it harder for Ethernity to collect outstanding debts. Ethernity also believes two long-term customers have been violating usage of a licence "for several years" and says it "will be taking steps to claim against this infringement". Says its current cash balance is approximately USD107,000. Read More

TRADING UPDATES: Dianomi swings to loss; Epwin revenue up

20th Sep 2023 14:27

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

IN BRIEF: Ethernity Networks extends share issue date in subscription

14th Sep 2023 13:57

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Says current outstanding balance under the share subscription agreement with investor 5G Innovation Leaders Fund is USD1.4 million. Extends the date by which 5G Innovation can request Ethernity shares to be issued until March 3 next year. All other terms remain unchanged and as announced in late February. Read More

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

31st Aug 2023 14:14

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. Read More

IN BRIEF: Ethernity Networks hails progress on delayed contracts

9th Aug 2023 12:16

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. Read More

UK shareholder meetings calendar - next 7 days

7th Aug 2023 15:44

TRADING UPDATES: RentGuarantor loss widens, Journeo revenue soars

1st Aug 2023 14:36

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

TRADING UPDATES: Barryroe hires examiner in bid to avoid liquidation

31st Jul 2023 21:59

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

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

26th Jul 2023 10:57

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. Read More

IN BRIEF: Ethernity Networks shares down despite narrowed annual loss

30th Jun 2023 10:46

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". Read More

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

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. Read More

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

8th Jun 2023 17:12

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." Read More

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