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Ethernity Net (ENET) Share News

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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