REG - Spirent Comms. PLC Keysight Technologs. - Spirent First Quarter 2025 Trading Update

Keysight TechnologiesAnnouncement

07/05/2025 07:00

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RNS Number : 5726H  Spirent Communications PLC  07 May 2025

SPIRENT COMMUNICATIONS PLC

First Quarter 2025 Trading Update

 

Performance tracking to plan

 

London, UK - 7 May 2025: Spirent Communications plc ("Spirent", the "Company"
or the "Group") (LSE: SPT), a leading provider of automated test and assurance
solutions for next-generation devices and networks, today issues the following
Trading Update for the period 1 January to 31 March 2025.

 

Group performance

We continue to manage global market challenges and engage closely with our
customers, understanding their needs in order to support them with their
development plans. Our market drivers remain intact and, as a result, we
continue to invest in and deliver our product roadmap.

 

First quarter orders and revenue were both in line with our plan and in line
with the same period last year. We also maintained our strong orderbook.

 

In the first quarter, our Positioning business won an industry first contract,
utilising new IP to simulate the lunar environment, an expanding and exciting
area of space exploration. We saw some slight delays for our assurance
solutions, however this was offset by strong demand for high-speed Ethernet
due to growing demand for 800G, our new AI solution and support for data
centre builds.

 

We are carefully reviewing tariff changes and, as they come into effect, we
will take mitigating actions including customer surcharges and logistical
changes to our global sourcing and delivery routes. We will continue to
monitor any potential impacts on customer buying patterns and order timings.

 

Financial position

We have maintained a strong balance sheet with our cash position closing at
$149 million at the end of March 2025, demonstrating continued effective cash
management.

 

Update on the recommended cash offer by Keysight Technologies, Inc.

On 28 March 2024, the Boards of Keysight Technologies, Inc. ("Keysight") and
Spirent announced that they had reached agreement on the terms of a
recommended cash offer for the entire issued ordinary share capital of Spirent
(the "Transaction"). As announced by Keysight on 1 April 2025, the UK
Competitions and Markets Authority unconditionally cleared the Transaction on
13 March 2025. Accordingly, Conditions 3.3, 3.4, 3.5 and 3.6 set out in Part A
of Part III of the Scheme Document have been satisfied. Completion of the
Transaction remains subject to the satisfaction or (if capable of waiver)
waiver of the remaining conditions to the Transaction set out in Part III of
the Scheme Document (the "Conditions"), including the Condition relating to
sanction of the Scheme by the Court. With support and assistance from Spirent,
as Keysight announced on 1 April it remains committed to working quickly and
constructively with the US Department of Justice and State Administration for
Market Regulation of the People's Republic of China to obtain clearance for
the Transaction and, as it stated in the same announcement, expects that the
Scheme will become effective during the third quarter of Keysight's current
fiscal year (period ending 31 July 2025).

 

- ends -

 

Enquiries

 Eric Updyke, Chief Executive Officer                    Spirent Communications plc    +44 (0)1293 767676

                                                                                       E: investor.relations@spirent.com (mailto:investor.relations@spirent.com)
 Paula Bell, Chief Financial & Operations Officer

 James Melville-Ross/Humza Vanderman                     DGA Group                     +44 (0)20 7664 5095

                                                                                       E: spirent@dgagroup.com

 

About Spirent Communications plc

Spirent Communications plc (LSE: SPT) a leading global provider of automated
test and assurance solutions for networks, cybersecurity, and positioning. The
Company provides innovative products, services and managed solutions that
address the test, assurance, and automation challenges of a new generation of
technologies, including 5G, AI, cloud, autonomous vehicles and beyond. From
the lab to the real world, Spirent helps companies deliver on their promise to
their customers of a new generation of connected devices and technologies.
Further information about Spirent Communications plc can be found at
https://corporate.spirent.com/ (https://corporate.spirent.com/) .

 

Spirent Communications plc Ordinary Shares are traded on the London Stock
Exchange (ticker: SPT; LEI: 213800HKCUNWP1916L38). The Company operates a
Level 1 American Depositary Receipt (ADR) programme with each ADR representing
four Spirent Communications plc Ordinary Shares. The ADRs trade in the US
over-the-counter (OTC) market under the symbol SPMYY and the CUSIP number is
84856M209. Spirent ADRs are quoted on the Pink OTC Markets electronic
quotation service which can be found at
https://www.otcmarkets.com/marketplaces/otc-pink
(https://www.otcmarkets.com/marketplaces/otc-pink) .

 

Spirent and the Spirent logo are trademarks or registered trademarks of
Spirent Communications plc. All other trademarks or registered trademarks
mentioned herein are held by their respective companies. All rights reserved.

 

Cautionary statement regarding forward-looking statements

This document may contain forward-looking statements which are made in good
faith and are based on current expectations or beliefs, as well as assumptions
about future events. You can sometimes, but not always, identify these
statements by the use of a date in the future or such words as "will",
"anticipate", "estimate", "expect", "project", "intend", "plan", "should",
"may", "assume" and other similar words. By their nature, forward-looking
statements are inherently predictive and speculative and involve risk and
uncertainty because they relate to events and depend on circumstances that
will occur in the future. You should not place undue reliance on these
forward-looking statements, which are not a guarantee of future performance
and are subject to factors that could cause our actual results to differ
materially from those expressed or implied by these statements. The Company
undertakes no obligation to update any forward-looking statements contained in
this document, whether as a result of new information, future events or
otherwise.

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