Ethernity Networks Ltd Company Update (5075B)
14 Febrero 2022 - 1:00AM
UK Regulatory
TIDMENET
RNS Number : 5075B
Ethernity Networks Ltd
14 February 2022
14 February 2022
ETHERNITY NETWORKS LTD.
("Ethernity" or the "Company")
Company Update
Ethernity Networks Ltd (AIM: ENET.L), a leading supplier of
programable networking solutions utilising patented and innovative
network processing technology ported on FPGA (field programmable
gate array) for virtualised networking appliances, provides the
following update:
In its previous market update, in December 2021, the Company had
noted that due to the worldwide components shortage and price
increases, it was planning to adapt its networking hardware device
to produce a more competitively priced go-to-market product.
Ethernity is pleased to update that following internal
positioning work and collaboration with certain of the Company's
contracted customers, it was agreed to restore the plans to produce
the contracted UEP platform (planned for completion of fabrication
by end of Feb/22), which is a higher-end product that better fits
the 5G transport market. This includes the original design plan to
support 25GbE, additional L3 features, security functions, and
Power Over Ethernet (POE) for radio equipment, making the product
more attractive within the industry.
This decision to return to the higher-end version of the UEP, as
originally contracted, focuses the market for the products on both
distributed/centralized units (DU/CU) and wireless bonding, and
will result in faster time to revenue for the contracted UEP
platform. By positioning the UEP product towards the higher end of
the market, the Company can continue with the completion of its UEP
(adapted for disaggregated non-vendor locked indoor/outdoor
wireless backhaul deployment) and with its ACE-NIC (for integration
into servers), allowing for deployment of a differentiated
higher-end product during FY 2022 while, at the same time,
fulfilling existing contracted customer orders. Ethernity has
positioned the product in parallel to capture new 5G deployments
for the connection of 5G DU/CU, using the Company's patented
wireless bonding technology and 5G security offload. The Company
expects that the above UEP product, or ACE-NIC variant, will
generate significant revenues during the FY 2022/23 period.
Moreover, to overcome the current components shortage, the
Company is also collaborating with two existing customers to secure
components for thousands of units expected to be deployed during
2022/23. The collaborations with existing customers and efforts in
securing supply of components will allow Ethernity to accelerate
progress over the next 2 years towards mass production, as well as
the migration towards delivery of system products. The Company
anticipates significant growth in 2022/2023, and successful
delivery of existing and pipeline contracts would deliver in excess
of $20m over the next 24 months. In addition, the Company continues
to benefit from royalty and licensing revenue streams.
The Company's recent progress has allowed Ethernity to better
focus its R&D resources to fulfil execution of many of the
significant contracts signed during the last year, as well as to
position Ethernity to achieve its growth plans and strategy of
becoming a supplier of customised and differentiated system
solutions, with a focus on delivering complete solutions, including
5G routing software, network operating systems, and hardware
devices.
Ethernity CEO David Levi said: "Our recent efforts to
consolidate our progress, both in our R&D and in our sales, and
to ensure that we are on a path toward financial growth have been
extremely successful, and I am now confident that we are placed on
a solid foundation for the next couple of years. This will allow us
to seek additional customers for our established products and
solutions, further growing our revenues and gross margins."
For more information on Ethernity's products and solutions,
please see The Company's website at www.ethernitynet.com .
For further information, please contact:
Ethernity Networks Tel: +972 8 915 0392
David Levi, Chief Executive Officer
Mark Reichenberg, Chief Financial Officer
Arden Partners plc (NOMAD and Broker) Tel: +44 207 614 5900
Richard Johnson / George Morgan
Peterhouse Capital Limited (Joint Broker) Tel: +44 20 7562 0930
Lucy Williams / Duncan Vasey / Eran Zucker
About Ethernity Networks
Ethernity Networks (AIM: ENET.L) provides innovative,
comprehensive networking and security solutions on programmable
hardware for accelerating telco/cloud networks. Ethernity's FPGA
logic offers complete Carrier Ethernet Switch Router data plane
processing and control software with a rich set of networking
features, robust security, and a wide range of virtual function
accelerations to optimize telecommunications networks. Ethernity's
complete solutions quickly adapt to customers' changing needs,
improving time-to-market and facilitating the deployment of 5G,
edge computing, and NFV.
MARKET ABUSE REGULATION
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014 (as implemented into
English Law). Upon the publication of this announcement via a
Regulatory Information Service, this inside information is now
considered to be in the public domain.
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