ADDvantage Technologies soars after upbeat Q4 results

ADDvantage Technologies

28/12/2021 11:52

** Wireless infrastructure services firm's shares  AEY.O  up
10.9% at $1.04 premarket - set for best day in six months
    ** Co posts Q4 revenue of $19.7 mln, up 61% from a year ago
 urn:newsml:reuters.com:*:nGNX16T7S9
    ** Co's wireless segment revenue rises 47% to $7 mln due to
increased 5G uptake
    ** "This growth is broadbased, representing contracts from
several large carriers in various regions" - CEO Joe Hart
    ** Hart adds that the company expects fiscal 2022 to be a
record year for its Wireless segment, enabling strong top and
bottom-line growth
    ** Up to last close, stock had fallen ~38% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))