1st Sep 2023 10:52
(Alliance News) - EnSilica PLC on Friday said it has secured a USD2.4 million contract with an existing Europe-based customer.
Shares in the Abingdon, Oxfordshire-based semiconductor designer and supplier were up 7.4% to 70.90 pence each in London on Friday morning.
EnSilica said the most recent award with a "longstanding" EnSilica customer is for the development of a next generation advanced networking ASIC.
The majority of the contract revenue will be realised in the company's current financial year, which ends May 31, 2024.
This further supports management's confidence in EnSilica's ability to deliver revenue and earnings before interest, tax, depreciation and amortisation in line with current market expectations, it said.
EnSilica expects to announce its financial 2023 results in early October and expects them to be in line with market expectations.
On Wednesday, EnSilica said it secured a new unnamed lead customer for its proprietary satellite broadband chip in a deal worth around EUR2.5 million.
Chief Executive Ian Lankshear said: "We are delighted to have been awarded this further contract with a valued and longstanding EnSilica customer, strengthening our ongoing association with them and demonstrating their continuing confidence in our design and delivery capabilities. The award also reinforces our ongoing confidence in both the business and our capabilities, ensuring EnSilica continues to trade comfortably in line with market consensus for the current financial year."
By Sophie Rose, Alliance News reporter
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