REG - Calnex Solutions PLC - Trading Update

Calnex SolutionsAnnouncement

12/10/2021 07:00

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RNS Number : 7219O  Calnex Solutions PLC  12 October 2021

This announcement contains inside information.

12 October 2021

Calnex Solutions plc

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

Trading Update

Calnex Solutions plc (AIM: CLX), a leading provider of test and measurement
solutions for the global telecommunications sector, today provides an update
on trading for the six months ended 30 September 2021 and prospects for the
full year.

The Board is pleased to report that the Group has experienced continued strong
levels of trading in the first half of the year and expects this trend to
continue through the second half of the year.

As a result of the strong performance the Board anticipates that revenue and
profits for the full year will be materially ahead of previous expectations.
The Group's robust cash position has allowed the Group to bring forward
planned investment in the team to increase operational capability, in line
with order growth.

The Group has seen a return to pre-COVID customer spending patterns in all
regions, other than in China where demand has been in line with the previous
year. Factors driving the strong performance include a sustained positive
response to the launch of the enhanced Paragon-Neo, Calnex's Lab Sync Platform
which is being adopted both by existing customers and new customers looking to
deliver products addressing the new O-RAN standards. The new version of
Sentinel has also seen strong uptake from hyperscale enterprise customers who
are investing in their datacentre operations.

Calnex has not experienced any negative impact from the ongoing global
semiconductor shortage to date on the ability to manufacture and ship product,
although the Board continues to monitor the situation closely.

The Group continues to successfully deliver on its stated growth strategy and
the Board is confident in Calnex's ability to continue benefitting from the
underlying market growth drivers in the telecoms market.

Notice of Results

Calnex expects to announce results for the six months ended 30 September 2021
on 23 November 2021.

Tommy Cook, Chief Executive Officer and founder of Calnex, said:

"I am delighted to provide an update on what has been another period of strong
growth for Calnex. We have seen most of our customers return to pre-COVID
spending patterns and have experienced demand from both new and existing
customers for our latest product enhancements. Whilst we remain cautious with
regards to the ongoing global semiconductor shortages, the strength in
customer orders in the first half of the year provides us with confidence that
the full year revenue and profits will exceed that of the record prior year
and mark another considerable step forward for Calnex, as we continue to
capitalise on the industry's transitions to 5G and the growth of cloud
computing."

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, Harriet Jackson, 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.

 

 

 

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