5th May 2015 06:37
LONDON (Alliance News) - Spirent Communications PLC Tuesday reiterated confidence it will achieve progress "broadly in line" with its expectations during 2015, following a slow first quarter.
In a statement ahead of its annual general meeting, the communications technology company said its revenue for the quarter to end-March was USD96.6 million, down from USD111.9 million a year before.
The company had anticipated at the time of its 2014 results in February that activity in its first quarter would be "muted", exacerbated by the timing of a USD16 million shipment of hand-held test tools which is scheduled for its second half, but in 2014 was shipped in the first quarter.
Order intake in the quarter was USD99.4 million, down from USD101.7 million. Strong growth in North America was offset by weaker demand in Europe, the Middle East and Africa, and Asia Pacific.
Following this slower start the company said that order activity is "showing signs of gaining momentum."
"There are a number of major new solutions that will be delivered to the market in the second half of 2015 as we see the benefits of our investments come through and we expect to see an increased level of demand as the year unfolds," the company said in a statement.
Spirent expects to announce its first half results August 6.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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