REG - Calnex Solutions PLC - AGM Statement

Calnex SolutionsAnnouncement

17/08/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220817:nRSQ2224Wa&default-theme=true

RNS Number : 2224W  Calnex Solutions PLC  17 August 2022

 

17 August 2022

 

Calnex Solutions plc

("Calnex", the "Company" or the "Group")

 

AGM Statement

Calnex Solutions plc (AIM: CLX), a leading provider of test and measurement
solutions for the global telecommunications sector, is pleased to provide an
update on trading ahead of its Annual General Meeting ("AGM") taking place at
9am today.

 

Calnex has made solid progress against its strategy in the first few months of
the new financial year and is confident that the Group's performance in FY23
will be in line with market expectations. The Company continues to experience
high demand for its range of test and measurement solutions as it benefits
from supportive market trends with the transition to 5G and growth in cloud
computing and the order book remains strong.

 

As previously reported, the Company continues to successfully mitigate the
impact of the global semiconductor shortage on its ability to manufacture and
ship products, in conjunction with its partners. As with the prior year, this
may cause monthly revenue to fluctuate, and the Board expects there will be an
H2 weighting to the Group's trading performance.

 

The expansion into adjacent markets, including data centres, represents an
exciting new opportunity for Calnex. The Group continues to build
relationships in these verticals.

 

Following the acquisition of iTrinegy in April 2022, the Group is pleased to
report that the integration is progressing as planned.

 

Calnex has recently renewed its multi-year contract with long-established
partner Spirent Communications plc. This is the third renewal since the
relationship was established in 2013, demonstrating the continued mutual
commitment to growing the relationship for the success of both parties.

 

Despite wider global issues, the Company's positive trading performance and
the supportive trends within the telecoms sector provide the Board with
confidence in its ability to deliver on its growth strategy this year and
beyond.

 

 

For more information, please contact:

 

 Calnex Solutions plc                             Via Alma PR
 Tommy Cook, Chief Executive Officer

 Ashleigh Greenan, Chief Financial Officer

 Cenkos Securities plc - NOMAD                    +44 (0)131 220 6939
 Derrick Lee, Peter Lynch

 Alma PR                                          + 44(0) 20 3405 0213
 Caroline Forde, Hannah Campbell, Joe Pederzolli

 

 

Overview of Calnex

 

Calnex designs, produces and markets test instrumentation and solutions for
network synchronization and network emulation, enabling its customers
to validate the performance of the critical infrastructure associated
with telecoms networks.   To date, Calnex has secured and delivered
orders to over 600 customer sites in 68 countries across the
world. Customers include BT, China Mobile, NTT, Ericsson, Nokia, Intel,
Qualcomm, IBM and Facebook.

 

Founded in 2006, Calnex is headquartered in Linlithgow, Scotland, with
additional locations in Belfast, Northern Ireland and California in the US,
supported by sales teams in China and India. Calnex has a global network of
partners, providing a worldwide distribution capability.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMSFMFIMEESEEA