27th Sep 2013 10:50
LONDON (Alliance News) - Filtronic PLC Friday said that its trading for the first quarter had been in line with expectations. Lay-offs at its Broadband business in June will help reduce losses in line with expectations, the company said.
The designer and manufacturer of products for wireless telecommunicatons, in a statement ahead of its annual general meeting, said its Wireless business has completed its major UK orders for LTE interference mitigation filters. It said that Network upgrade activity was still dominated by US operators, but that European enquiries were expected to result in volume sales in the second half.
Filtronic said it has established an Antenna engineering team in Stockholm at an anticipated net cost of GBP700,000 in the year to May 31, 2014.
The company reported net cash of GBP5.5 million at the end of August, up GBP3.6 million since the end of May. Shares in Filtronic were trading up 2% at 70.21 pence Friday morning.
Filtronic said it will release its results for the half-year to November 30 in January 2014.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Filtronic