2nd May 2018 11:00
LONDON (Alliance News) - Spirent Communications PLC said Wednesday that trading for the three months to March-end was "impacted" by the timing of key orders.
The company's first quarter revenue fell to USD97.9 million from USD103.8 million the previous year. Adjusted operating profit also fell - USD2.1 million from USD7.1 million for the same period last year.
The company said its revenue was "broadly" in line with its "plan" and its adjusted profit was "slightly ahead".
Looking forward, the company's expectations for the year "remain unchanged". Spirent's Networks & Security, Lifecycle Service Assurance and Connected Devices divisions all reported a decline in revenue compared to the first quarter of 2017.
Chief Executive Eric Hutchinson said: "The business performed to plan in the first quarter, and I am pleased with the further key strategic wins and the number of new trials for our VisionWorks product within our Lifecycle Service Assurance business, the momentum building for high-speed Ethernet (400G) and demand for security testing underpinning growth which is expected in the second half of the year. Spirent witnessed a strong April order intake, the Board is confident that the Group will show progress in 2018, and our expectations for the year remain unchanged."
Shares in the telecommunications testing company were down 1.5% Wednesday morning at 116.20 pence each.
Related Shares:
Spirent