Spirent Communications Q1 Profit, Orders Up; Says Momentum Continued To Q2

(RTTNews) - Spirent Communications Plc (SPT.L, SPM), a communications technology company, reported Tuesday robust profit growth in the first quarter with 12 percent rise in revenue.

In its trading update for the for the period January 1 to March 31, the company said it delivered strong results, with order intake showing good growth. The company benefited from strong opening orderbook.

The development of 5G continues at pace and the firm has secured key orders to support customers across the portfolio.

Further, strong demand for Positioning products and high-speed Ethernet solutions continued through the first quarter.

In the Lifecycle Service Assurance, revenue growth was delivered in the quarter.

Further, the Board confirmed payment of the previously announced final dividend of 3.45 cents or 2.70 pence per share. The payment will be made on May 1 to shareholders on the register at March 13, subject to shareholder approval at the Annual General Meeting on April 29.

Looking ahead, the company said it has continued to build momentum into the second quarter.

Eric Updyke, Chief Executive Officer, said, "We recognise that the current volatile environment may affect deal timing and as a result, we continue to be extremely vigilant and are taking prudent actions to mitigate risk and delay discretionary expenses."