10th Sep 2020 14:29
Ethernity Networks Ltd - network processing technology firm - Revenues decreases to USD359,375 over the six months to the end of June from USD971,709 a year earlier, with pretax loss widening to USD2.9 million from USD990,304. "The first half results were not in-line with our initial expectations at the beginning of the year, as some licensing deals were delayed beyond our expectations, as well as the impact of Covid-19, albeit first half revenue expectations were much lower than that estimated for the second half of 2020. However, we have experienced that our customers have now returned to certain levels of normal business operations and are finalising their thought process relating to development of new products and architecture that is expected to lead to demand of our ENET Flow Processor," said Chief Executive David Levi.
Current stock price: 16.50 pence
Year-to-date change: down 62%
By Evelina Grecenko; [email protected]
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