REG - Ethernity Networks - Fibre controller business update

Ethernity NetworksAnnouncement

06/06/2023 07:00

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RNS Number : 7153B  Ethernity Networks Ltd  06 June 2023

6 June 2023

ETHERNITY NETWORKS LTD.

("Ethernity" or the "Company")

 

Fibre controller business update

 

Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data
processing semiconductor technology for networking appliances, is pleased to
provide an update on the fulfilment of its fibre controller contracts,
announced on 18 October 2021 and 20 September 2022.

 

Following discussions with its Field Programmable Gate Arrays (FPGA) supplier,
the Company has secured supply of the components required to fulfil the
contracted orders and deliveries as per the contracts signed for the current
year. The secured supply of components will enable the Company to generate
revenues of $3.3 million in the current financial year which equals almost 80%
of the pipeline from these contracts in the current financial year.

 

Ethernity plans to continue working with new customers and with the existing
customer to secure and deliver beyond this amount for the current financial
year.

 

The Passive Optical Networking (PON) products, including XGS-PON Optical Line
Termination (OLT) and Fibre-to-the Room (FTTR), were successfully factory
tested, and the Company is progressing with the existing customer on
deployment. The Company is engaged in further testing and discussions with
other major OEMs for its PON fibre controller devices and PON systems over and
above the current signed contracts. As a result, the Company will continue to
target sales of licensing fees for its PON fibre controller System-on-Chip
(SoC) and sales of its PON fibre controller OLT system in various
configurations.

 

David Levi, CEO of Ethernity Networks, commented: "We're pleased that we have
concluded a process to secure components to meet the planned, contracted
deliveries."

 

For further information, please contact:

 

 Ethernity Networks Ltd                                         Tel: +972 8 915 0392
 David Levi, Chief Executive Officer
 Mark Reichenberg, Chief Financial Officer

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   Tel: +44 (0)20 3328 5656
 James Reeve / Piers Shimwell (Corporate Finance)

 Amrit Nahal / Stefano Aquilino (Sales and Corporate Broking)

 Peterhouse Capital Limited (Joint Broker)                      Tel: +44 (0)20 7562 0930
 Lucy Williams / Duncan Vasey / Eran Zucker

 

About Ethernity ( www.ethernitynet.com (http://www.ethernitynet.com/) )

Ethernity Networks (AIM: ENET.L OTCQB: ENETF) provides innovative,
comprehensive networking and security solutions on programmable hardware that
increase telco/cloud network infrastructure capacity. Ethernity's
semiconductor logic offers data processing functionality for different
networking applications, innovative patented wireless access technology, and
fibre access media controllers, all equipped with control software with a rich
set of networking features. Ethernity's solutions quickly adapt to customers'
changing needs, improving time-to-market, and facilitating the deployment of
5G over wireless and fibre infrastructure.

 

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