Ethernity reported FY17A revenues of US$1.52m, -30% YoY. The decline was attributed to significant customers either reducing or changing the nature of their business with Ethernity, and the slippage of Ethernity’s customers’ clients’ purchasing decisions (i.e. one step removed and outside the scope of the group’s control). Altogether, the impact was c.US$1.5m, partially offset by three new contracts secured in FY17A. Revenues undershot Arden estimates by 29%, primarily
19 Jun 2018
Slow uptake hits FY17A; moving to No Rating
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Slow uptake hits FY17A; moving to No Rating
Ethernity Networks Ltd. (ENET:LON) | 0.7 0 7.4% | Mkt Cap: 2.74m
- Published:
19 Jun 2018 -
Author:
Kartik Swaminathan -
Pages:
7
Ethernity reported FY17A revenues of US$1.52m, -30% YoY. The decline was attributed to significant customers either reducing or changing the nature of their business with Ethernity, and the slippage of Ethernity’s customers’ clients’ purchasing decisions (i.e. one step removed and outside the scope of the group’s control). Altogether, the impact was c.US$1.5m, partially offset by three new contracts secured in FY17A. Revenues undershot Arden estimates by 29%, primarily