Ethernity Networks Ltd Fibre controller business update (7153B)
06 Junio 2023 - 1:00AM
UK Regulatory
TIDMENET
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 Tel: +44 (0)20 3328
and Joint Broker) 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 )
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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