StockMarketWire.com - Spirent Communications' revenue edged up by 1% in the third quarter, with growth in Networks & Security and Lifecycle Service Assurance offsetting an expected decline in Connected Devices.

The company made strategic contract wins in service assurance solutions and benefitted from growth in security solution sales.

However, demand for high-speed Ethernet testing has been subject to the shifting of major investment plans by US customers to the fourth quarter of 2017 and into 2018. This meant order intake in the third quarter was lower by 7% compared to the same period last year.

The predicted decrease in the Connected Devices segment accounted for 5 percentage points of the reduction.

The group said its revenue expectations for the year remain unchanged. For the nine months year to date, adjusted operating profit increased 62% to $33.4 million, compared to the same period last year. The net cash balance was $115.6 million at 30 September compared to $110.2 million at the end of June this year.

"The order pipeline for the fourth quarter is attractive and combined with the continued momentum in our growth businesses, gives the board confidence that expectations for the full year results remain unchanged," the company said.


At 8:09am: [LON:SPT] Spirent Communications PLC share price was +1.88p at 94.88p



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