ADDvantage Technologies surges on robust Q3 results

ADDvantage Technologies

12/08/2022 11:42

** Shares of wireless infrastructure services provider
ADDvantage Technologies Group Inc  AEY.O  up ~26% at $1.77 in
premarket trading 
    ** Company's Q3 sales rose 63% to $27.8 mln, driven by
increased 5G uptake and rise in demand for refurbished
telecommunications equipment sold by the telco segment
    ** AEY posts Q3 net income of $875,000, or 7 cents per
share, compared with a net loss of $2.1 mln, or 17 cents, a year
earlier
    ** CEO Joe Hart says company sees continued cost
optimization opportunities, particularly in its wireless
segment, driving further margin expansion as 5G demand continues
to accelerate  urn:newsml:reuters.com:*:nGNX8yJ4wW
    ** Up to Thursday's close, stock had fallen ~18% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))