Brief: Incoax Networks Updates Financial Targets

InCoax Networks AB

12/07/2022 08:28

July 12 (Reuters) - InCoax Networks AB  INCOAX.ST :
    * INCOAX NETWORKS AB INFORMS ABOUT THE BUSINESS SITUATION
AND
COMMUNICATES UPDATED FINANCIAL TARGETS
    * AMERICAN TIER-1 OPERATOR CONTINUES TO SHOW GREAT INTEREST
BUT
HAS DECIDED, DUE TO OTHER PREVIOUSLY INITIATED INTERNAL
PROJECTS, TO WAIT UNTIL FINANCIAL YEAR 2023 TO MOVE FORWARD IN
PROCESS.
    * BOARD'S ASSESSMENT NOW IS THAT INCOAX WILL HAVE NET SALES
OF SEK
25 MILLION FOR 2022.
    * PREVIOUSLY COMMUNICATED GROWTH TARGETS REMAIN INTACT.
    * THERE IS STILL GREAT INTEREST FROM OPERATOR TO MOVE
FORWARD WITH
INCOAX' SOLUTION. HOWEVER, OPERATOR HAS DECIDED TO WAIT UNTIL
FINANCIAL YEAR 2023 TO PROCEED WITH PROJECT.
    * IN ADDITION TO BUDGET TECHNICALITIES, THIS IS ALSO DUE TO
AN
ONGOING ROLL-OUT OF G.FAST 212, WHICH WILL CONSUME A LOT OF
RESOURCES AT OPERATOR DURING NEXT SIX MONTHS.
    * RESOURCES NEEDED FOR INSTALLATIONS HAS PROVEN TO BE A
GENERAL
BOTTLENECK
    * OPERATORS ARE NOT BACK TO CAPACITY THEY HAD BEFORE
PANDEMIC
    * ADDITIONAL OPERATORS HAVE SHOWN INTEREST WHERE TESTING IS
EXPECTED TO START AT SEVERAL OF THESE DURING SECOND HALF OF 2022
    * CONFLICT IN UKRAINE HAS EXACERBATED CHALLENGES

Source text for Eikon:  ID:nWkr1FkPt9 
Further company coverage:  INCOAX.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))