Spirent set to beat forecasts with 30% rise in profits
By Frank Prenesti
Date: Tuesday 15 Jan 2019
(Sharecast News) - Telecoms testing company Spirent Communications said it expected adjusted operating profits to rise by 30%, exceeding market expectations.
In a trading statement, the company said it now saw profits in the range of $75m - $77m. Revenue increased 6% to $477m and order intake was up 6% to $470m.
Spirent said it benefited from strong growth at its networks & security operating unit and experienced an increase in demand for 400G high-speed ethernet test solutions.
"Growth in our positioning business has been particularly strong and includes the benefit from significant one-off business with a US defence contractor ($10m revenue) which we don't expect to repeat in 2019," Spirent said.
"Due to significant reorganisation in our key customer base for Lifecycle Service Assurance, we saw only modest annual revenue growth for this business."
"Connected Devices delivered strong profit growth in the year, driven by effective cost management."
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