Spirent Communications PLC First Quarter 2019 Trading Update (6548X)
May 01 2019 - 2:00AM
UK Regulatory
TIDMSPT
RNS Number : 6548X
Spirent Communications PLC
01 May 2019
SPIRENT COMMUNICATIONS PLC
First Quarter 2019 Trading Update
London, UK - 1 May 2019: Spirent Communications plc ("Spirent",
the "Company" or the "Group") (LSE: SPT), a leading communications
technology company, today issues the following Trading Update for
the period 1 January to 31 March 2019.
Group performance
The Group as a whole saw positive momentum carried into the
first quarter of 2019. Trading performance is in line with our
plan. Revenue and earnings grew compared to the same period in
2018.
In addition, the order pipeline remains robust and order intake
for the period also showed solid growth compared with the same
period in 2018.
As is typical for Spirent we expect a weighting to the second
half of the year, with the usual uptick in the final quarter of the
financial year. The Board remains confident in delivering further
strategic progress in the year with no change to our outlook.
Networks & Security
We continue to maintain our leadership position in high-speed
Ethernet test and showcased our capabilities at the OFC conference
in San Diego with the world's highest-density 400/200/100/50
Gigabit Ethernet test system. We see robust demand for our GPS
positioning products and will shortly launch our new Data Breach
Assessment security solution for continuous automated assessment of
security and data loss prevention policies, as demand for our
leading security solutions continues to grow.
Lifecycle Service Assurance
A number of support contracts were secured in the period,
originally expected late 2018, and our VisionWorks solution
continues to be well received by our key customers. Demand for our
Mobility products grew driven by 5G and other Landslide expansion
opportunities. We secured key orders for 10G and 100G probes from a
Tier 1 US network operator. Order intake momentum improved and
revenue growth picked up in the quarter as a result.
We showcased our 5G test leadership at a public demonstration at
Mobile World Congress in Barcelona, where our Landslide solution
was used to validate the conformance and performance of a 5G
standalone core network.
Connected Devices
We continue to see relative stability in the smartphone test
market and our strategic focus on developing 5G test capabilities
is on track. We have expanded our routes to market and have won
important 5G opportunities for our Wireless solutions in China and
the Nordic region on the back of our strong technical support.
Commenting on the results, Eric Hutchinson, Chief Executive
Officer, said:
"The year has started well with continued revenue and profit
growth compared to the same period in 2018. Our pipeline remains
robust, our market leading technologies, appropriate R&D
investment and strong customer relationships continue to underpin
our plans to support growth. We have also increased our customer
key account reach and account management team to ensure we continue
our focused approach to business growth."
Board update
As previously announced, Eric Updyke has been appointed as the
new Chief Executive Officer from today.
- ends -
Enquiries
Eric Updyke, Chief Executive Spirent Communications
Officer plc +44 (0)1293 767676
Paula Bell, Chief Financial
Officer
James Melville Ross/Dwight
Burden/ +44 (0)20 3727
Adam Davidson FTI Consulting 1000
About Spirent Communications plc
Spirent Communications plc (LSE: SPT) offers test, measurement,
analytics and assurance solutions for next-generation devices and
networks. Spirent provides products, services and information
solutions for high-speed Ethernet, positioning mobile network
infrastructure markets, with expanding focus on service assurance,
cybersecurity and 5G. Spirent is accelerating the transition of
connected devices, network equipment and applications from
development labs to the operational network, as it continues to
innovate toward fully-automated testing and autonomous service
assurance solutions. Further information about Spirent
Communications plc can be found at
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
http://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.
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 or visit www.rns.com.
END
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