6th May 2022 08:53
(Alliance News) - Spirent Communications PLC on Friday confirmed its outlook for the year, as it reported strong order growth in the first quarter.
In the first quarter, the provider of testing, analytics and security for telecommunications networks said orders have increased 18% year-on-year. Orders increased by 17% if last year's acquisition of wireless testing company octoScope is excluded.
The firm also noted "good" revenue growth.
Its order book has continued to grow, with the book-to-bill ratio at 112 during the period, increased from 104 a year prior. Spirent secured "many large" 5G contracts, with its Hyperscalers business delivering 5G cloud network expansions and automation. Services grew in the double-digits, it said.
"As demand for 5G pre-deployment testing and network rollout support continues to gather pace, we have firmly positioned ourselves as the partner of choice to support our ever-expanding global customer base," Spirent said.
The outlook for the full year is unchanged, Spirent says, as it works to mitigate pressures from inflation and a volatile supply chain environment.
"The strong order book and continued business momentum means the board remains confident in delivering its growth plan for the year," said Chief Executive Officer Eric Updyke.
Shares in the Crawley, England-based company were 0.4% lower at 228.00 pence each in London on Friday morning.
By Elizabeth Winter; [email protected]
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