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Ethernity Networks losses deepen as revenue halves

Friday, 7th September 2018
Data processing technology supplier Ethernity Networks posted a deeper first-half loss after it received less business from a key customer

Losses for the six months through June amounted to $1.2m, compared to losses on-year of $180k.

Revenue almost halved to $441k.

'The first half results are in-line with our expectations with the focus being on the company moving from an IP/technology provider to a solutions provider for virtual networking and security appliances,' chief executive David Levi said.

'They reflect also market place delays around the virtualized networking environment that we have elaborated on earlier in the year -- along with the difficulties wherein a historic customer experienced contractual difficulties with their customer resulting in a material decline in business with them during 2017.'

At 1:46pm: (LON:ENET) Ethernity Networks Ltd share price was -3.5p at 25p

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