13th Mar 2025 16:59
(Alliance News) - Ethernity Networks Ltd on Thursday said it expects to win an additional USD290,000 in a contract extension with a US-based aerospace system products provider.
The Israel-based supplier of data processing semiconductor technology for networking appliances said it has completed all scheduled deliveries in its USD1.05 million licensing deal with an unnamed tier one US aerospace vendor.
The deal involves Ethernity delivering its silicon-tuned software to enable networking functionalities for the customer.
Ethernity said it has invoiced USD890,000 as part of the contract to date.
It said it has received "the highest performance ratings" across all aspects of the contract so far.
It expects the contract to be extended by an additional USD290,000 to allocate development resources for additional functions beyond the original scope of the contract. Implementation of the extension is planned over the next three months.
"Combined with the remaining USD160,000 from the original contract, the additional USD290,000 will bring the total anticipated collection to USD450,000 in the near term. The company anticipates further revenue from the customer during H2 2025," Ethernity said.
Despite the news, Ethernity Networks shares closed down 6.7% at 0.063 pence in London on Thursday.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Ethernity Net