By Iain Gilbert
Date: Wednesday 07 Apr 2021
LONDON (ShareCast) - (Sharecast News) - Radiofrequency networks developer Cyanconnode said on Wednesday that revenues for the year ended 31 March were more than double the £2.5m seen in the 15-months ended March 2020.
Cyanconnode said it had delivered its highest annual revenue to date, approximately 2.5 times the previous financial period and ahead of market expectations.
As a result, approximately £5.3m in cash was received from customers during the year, up from £4.1m in the prior period, leaving the AIM-listed firm with period-end cash and cash of about £1.5m.
Cyanconnode also highlighted that 481,000 modules had been shipped to customers during the 12-month period ended March 2021, a marked increase on the 115,000 shipped during the 15-months ended March 2020.
Chairman John Cronin said: "This has been an extremely challenging year due to the Covid-19 pandemic, nevertheless we have continued to pursue a number of opportunities which we expect to bear fruit in due course.
"We also expect revenues to materially increase during the current financial year and note market expectations of £8.8m of revenue for the financial year ended 31 March 2022."
As of 0830 BST, Cyanconnode shares had shot up 15.28% to 7.67p.
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Currency | UK Pounds |
Share Price | 9.00p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 19.00 |
52 Week Low | 7.85 |
Volume | 361,035 |
Shares Issued | 298.72m |
Market Cap | £26.89m |
RiskGrade | 350 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:24 | 22,094 @ 9.00p |
15:50 | 7,480 @ 8.80p |
15:16 | 110,850 @ 8.88p |
14:20 | 38,629 @ 9.05p |
12:41 | 20 @ 8.81p |
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