28th Apr 2021 10:08
(Alliance News) - Spirent Communications PLC on Wednesday said it hit the ground running in 2021 after a strong first quarter bolstered by its acquisition of US-based automated wireless test solutions provider octoScope Inc.
The Crawley, England-based company is a provider of testing, analytics and security for telecommunications networks.
Spirent kicked off the year with 6% organic order intake growth in the first quarter, and 8% if the recent acquisition of octoScope is included.
Spirent bought octoScope for USD55 million in early March.
Revenue, however, was flat with a year prior, but Spirent pointed out that this was a strong comparator period and before the impact of Covid-19.
"Demand for our assurance solutions continues to strengthen as market drivers for reliable communications remain robust and the pipeline build for our Networks & Security segment is reassuring," said Chief Executive Eric Updyke.
The Spirent order book continues to build with a book-to-bill ratio of 104 for the first quarter, it said.
"Spirent continues to win in 5G with the development of 5G technology and networks remaining a firm driver underpinning our growth, securing more than 180 deals during the quarter from more than 80 customers demonstrating strong worldwide 5G uptake," Spirent said.
Updyke said the company continues to manage the current volatile environment well and its business model "continues to prove resilient".
Spirent shares gained 2.9% to 259.40 pence each in London on Wednesday morning.
By Greg Roxburgh; [email protected]
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