12th May 2015 08:38
LONDON (Alliance News) - Wireless software and hardware company Anite PLC Tuesday said it traded in line with expectations in its fourth quarter, and as a result it will meet its expectations for the full year.
In the quarter to end-April both of its businesses performed well, Anite said. In Device and Infrastructure Testing, Anite made good progress with its Interoperability Testing and Propsim Channel Emulators products.
In Network Testing, it got a strong initial contribution from the Xceed Data Analytics business it acquired with Xceed Technologies Inc last October.
Anite had net cash of GBP36.9 million at the end of April, compared to GBP29.8 million at the end of October, which it said was better than expected.
"We saw continued momentum in the second half resulting in a good full-year result. The business performed well notwithstanding a typically mixed market backdrop," said Chief Executive Officer Christopher Humphrey in a statement.
"We enter the new financial year with growth opportunities for both of our businesses. These are supported by recent product investments and acquisitions, encouraging activity levels and growing sales pipelines," Humphrey added.
Anite plans to issue its full-year results on July 1.
Shares in Anite were trading up 4.4% at 88.44 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Ashoka India Equity Investment Trust Plc