Calnex Solutions PLC, a leading provider of test and measurement solutions for the global telecommunications and cloud computing markets, has provided a trading update for the year ending March 31, 2024. The company anticipates that its FY24 results will be in line with market expectations, with revenues of approximately £16.3 million and maintained margins. Despite challenges in the telecoms sector, customer engagement levels have remained high, providing confidence in the potential for improvement in the telecoms market outlook.
The company's management has focused engineering programs on opportunities showing near-term resilience and potential within the established telecoms market, as well as in the newer markets of cloud computing and defense. Calnex is targeting growth in the telecoms market, particularly in the area of 800Gb/s synchronization testing, where there is growing customer demand. The company expects a major new release in H2 FY25 to support leading-edge 800Gb/s interface testing.
In addition to the telecoms market, Calnex is also focusing on the cloud computing and data center markets, where its newly marketed products have seen encouraging levels of interest and initial orders. The company is assessing new opportunities in network time monitoring, data center efficiency, and effectiveness. Calnex has also experienced good order levels for its application assurance offering in the defense, government, and satellite markets and anticipates this will continue in FY25.
Tommy Cook, Chief Executive Officer of Calnex, expressed confidence in the company's ability to return to growth in FY25 and beyond, stating, "In the face of a challenging telecoms market, we have successfully adjusted the focus of our engineering programs towards the markets showing the most resilience and opportunity, with positive customer conversations taking place across each of our new product programs."
The company intends to announce audited results for the year ended March 31, 2024, on Tuesday, May 21, 2024. Calnex Solutions PLC's portfolio enables R&D, pre-deployment, and in-service testing for network technologies and networked applications, allowing its customers to validate the performance of critical infrastructure associated with telecoms and cloud computing networks and the applications that run on it.