Spirent Communications FY revenues grow following 'strong' Q4 performance
By Iain Gilbert
Date: Thursday 20 Jan 2022
(Sharecast News) - Test and assurance solutions provider Spirent Communications said on Thursday that it closed 2021 with a "strong performance" in the final quarter, with several important wins across all parts of its portfolio.
Spirent Communications stated strong order intake growth continued through to the end of the year, resulting in full-year revenues growing 10% to $576.0m, with the group now guiding for adjusted operating profits to be slightly ahead of market consensus.
The FTSE 250-listed firm highlighted that this performance had been achieved despite ongoing global supply chain challenges stemming from the Covid-19 pandemic and had resulted in "a materially higher" closing order book, with increased visibility into outer years creating "a robust foundation" for the new financial year.
Chief executive Eric Updyke said: "2021 progress represented another key milestone on our strategic journey where we again delivered strong financial performance, despite global supply chain challenges throughout the year, which we managed extremely effectively.
"Our business model is becoming increasingly resilient, supported by a robust financial and operational platform, and we are pleased to begin the new financial year with a growing order book with improved visibility. We are well placed to deliver further progress, with our key business drivers intact, and we continue to invest in our leading technology solutions across our portfolio."
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