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Ethernity Networks Ltd - Israel-based supplier of data processing semiconductor technology for networking appliances - Says it has secured the supply of components required to fulfil deliveries under contracts announced in October 2021 and September 2022. Company had expected $4.2 million from these contracts would be recognised in 2023. Now thinks that $3.3 million of the $4.2 million can be recognised under these contracts in 2023. However, subject to securing the necessary components during the second half of the year, the company still expects to be able to recognise the balance of the $4.2 million of revenue under these contracts in 2023. Says this will largely contribute to the targeted $9 million in revenue for 2023 which the directors believe is ‘achievable.’ Current stock price: 2.70 pence 12-month change: down 85% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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