& cplSiteName &

Spirent Reports Full-Year Results

Light Reading
News Wire Feed
Light Reading
2/27/2014
50%
50%

LONDON -- Spirent Communications plc ("Spirent", the "Company" or the "Group") (LSE: SPT), a leading communications technology company, today announces its preliminary results for the financial year ended 31 December 2013.

Financial highlights

  • Group revenue of $413.5 million (2012: $472.4 million); with a sequential improvement of 17% in the second half-year compared with the first half of 2013.
  • Book to bill ratio was 105 (2012: 97) reflecting the improving market dynamics in the second half of 2013 and Spirent's key product launches.
  • Group adjusted operating profit of $50.1 million (2012: $118.3 million) on lower revenue and after increased investment in product development and sales and marketing of $19.3 million compared to the prior year.
  • Dividend increased by 10%. Final dividend proposed of 2.01 cents per Ordinary Share, giving a full year dividend of 3.54 cents per Ordinary Share.
  • Free cash flow of $43.9 million (2012: $84.0 million); cash closed at $216.2 million after share buyback and dividends totalling $76.9 million.

    Operational and strategic highlights
    There were strong headwinds in certain market segments and geographies exacerbated by historical under investment in certain parts of the business given the significant changes in the industry:

  • Intense competition in the data center market and spending shifting to virtual and cloud based services.
  • Wireless device vendors experienced lower profitability and a lull in new technology and service launches.
  • Adverse macro-economic conditions in Europe coupled with spending caution by Chinese customers earlier in the year. In spite of these challenges there were areas of progress:
  • Structural reorganisation of the Group into business units to create maximum focus on meeting customers' changing needs as reported in January 2014.
  • Service providers increased infrastructure spending on high density core routers and 100G Ethernet.
  • Spirent introduced a family of next-generation high speed Ethernet test solutions, incorporating market leading realism and scale, to address increasing complexity and the explosion of data traffic in service provider and data center networks.
  • Launched Avalanche NEXT, a powerful, easy-to-use solution that tests the performance, scalability and security of application-aware network infrastructures with positive feedback from customers.
  • Underscored our industry leadership in GNSS testing with the first commercially available support for the Chinese BeiDou satellite navigation system.

    Spirent Communications plc

    (1)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    Vishnu Goel
    50%
    50%
    Vishnu Goel,
    User Rank: Light Sabre
    2/28/2014 | 10:12:27 AM
    T&M vendors need to cross crucial Billion Dollar mark!
    These excellent results reported from Spirent indicate sequential and YOY improvement,and a sort of healthy Book2Bill ratio.But the key things for the IP based platform company will be building traction in Asia,Crossing the Billion Dollar mark earlier than targeted and success both in terms of Marquee Customers and wider solution range in the LTE/LTE-adv market.Vishnu Goel T&M+919810101238 
    From The Founder
    Light Reading today starts a new voyage as part of a larger Enterprise.
    Flash Poll
    Live Streaming Video
    Charting the CSP's Future
    Six different communications service providers join to debate their visions of the future CSP, following a landmark presentation from AT&T on its massive virtualization efforts and a look back on where the telecom industry has been and where it's going from two industry veterans.
    LRTV Interviews
    Fixing IoT Security Is an Ecosystem Challenge

    12|9|16   |   05:34   |   (0) comments


    Level 3 Communications' Chief Security Officer Dale Drew says service providers, manufacturers and even consumers must combine to halt massive DDoS attacks using IoT devices in botnets. The solution he has in mind includes reputation-based routing by the service provider but also more secure endpoint devices and greater consumer awareness.
    LRTV Interviews
    Cox Clears $2B in Business Revenue

    12|8|16   |     |   (0) comments


    Cox's Jeff Breaux discusses how the third-largest US MSO will reach the $2 billion revenue mark this year and plans to hit $3 billion by 2021
    LRTV Interviews
    Can Cable Climb Upmarket?

    12|7|16   |     |   (0) comments


    Carol Wilson and Alan Breznick assess cable's prospects for winning more enterprises in a landscape rocked by corporate M&A activity.
    Women in Comms Introduction Videos
    TalkTalk Exec: Find Your North Star at Work

    12|7|16   |   3:38   |   (1) comment


    Women need to find their purpose, a professional North Star, and create a personal board for themselves, according to Alex Tempest, director of partners at TalkTalk Business.
    LRTV Interviews
    Verizon: Beware Unknown Unknowns

    12|7|16   |   04:58   |   (0) comments


    Chris Novak, director of the Verizon Enterprise Solutions Risk Team, explains that enterprises who don't conduct a thorough audit of their assets often leave some things unprotected because they don't know they exist. Many times these unprotected assets are part of corporate M&A activity but left unshielded they can become a hacker's playground, he tells Light ...
    LRTV Interviews
    ETSI's CTO Talks NFV, 5G & NGP

    12|5|16   |   09:45   |   (0) comments


    Adrian Scrase, CTO at standards body ETSI, talks about the various initiatives and specifications developments related to NFV, 5G and NGP (next-generation protocols) that will underpin next-gen networks.
    Women in Comms Introduction Videos
    Korn Ferry Consultant: How to Find, Cultivate & Be the Best Talent

    11|30|16   |   4:10   |   (2) comments


    Erin Callaghan, a managing consultant for Korn Ferry Futurestep, shares strategies for companies to improve how they recruit and for women to ensure they don't get lost in the pipeline.
    LRTV Custom TV
    We Can Make the World More Sustainable

    11|29|16   |     |   (0) comments


    GeSI is a global e-Sustainability Initiative organization bringing together 40 big multinational companies around the world. According to GeSI's report, information and communication technology can make the world more sustainable. Luis Neves, chairman of GeSI, shared with us his opinion at Ultra-broadband Forum (UBBF2016).
    LRTV Custom TV
    Finding a New Way to Engage Customers & Drive Revenue

    11|29|16   |     |   (0) comments


    Mobile revenues are declining. Digicel, a player in the Caribbean telecommunications/entertainment space, has found a new way to engage customers and drive revenue. John Quinn, CTO of Digicel, shared with us its story at Ultra-broadband Forum (UBBF2016)
    LRTV Custom TV
    Do You Really Need Gigabit Infrastructure?

    11|29|16   |     |   (0) comments


    Altibox is the biggest fiber-to-the-home (FTTH) player and the largest provider of video and TV in Norway. They started out with zero customers in 2002. Now they have close to half a million households and companies attached to their FTTH business. Nils Arne, CEO of Altibox shared with us their story and insight on 5G at Ultra-broadband Forum (UBBF2016).
    LRTV Custom TV
    BTís Openreach Strategy & Its Updates in 2016

    11|29|16   |     |   (0) comments


    A lot of developments at Openreach this year in terms of strategy and planned investments. Peter Bell, CIO of Openreach BT, shared with us the updates of Openreach at Ultra-broadband Forum (UBBF2016).
    LRTV Custom TV
    ITU: The Broadband Is Our Future

    11|29|16   |     |   (0) comments


    At Ultra-broadband Forum, Houlin Zhao, Secretary General of ITU, discussed how important it is for countries, companies and everybody to be working together to help to build the broadband and digital economies (UBBF2016).
    Upcoming Live Events
    May 16-17, 2017, Austin Convention Center, Austin, TX
    All Upcoming Live Events
    Infographics
    Hot Topics
    Cable Nodes Becoming a Choke Point
    Brian Santo, Senior editor, Test & Measurement / Components, Light Reading, 12/5/2016
    WiCipedia: After-School Coding, Salary Probing & Pro-Parenthood Companies
    Eryn Leavens, Special Features & Copy Editor, 12/2/2016
    Consolidated Snaps Up Fairpoint for $1.5B
    Iain Morris, News Editor, 12/5/2016
    Like Us on Facebook
    Twitter Feed
    BETWEEN THE CEOs - Executive Interviews
    Eyal Waldman, CEO of Mellanox Technologies, speaks to Steve Saunders, CEO of Light Reading, for an exclusive interview about the 100 GB cable challenge, cybersecurity and much more.
    Join us for an in-depth interview between Steve Saunders of Light Reading and Alexis Black Bjorlin of Intel as they discuss the release of the company's Silicon Photonics platform, its performance, long-term prospects, customer expectations and much more.
    Animals with Phones
    A Mobile Safari Click Here
    Literally.
    Latest Comment
    Live Digital Audio

    Even when there's a strong pipeline of female talent in the comms industry, it tends to leak all the way to the top. McKinsey & Company says women experience pipeline leakage at three primary points: being unable to enter, being stuck in the middle or being locked out of the top. Each pipeline pain point presents its own challenges, but also opportunities to stop the leak. Wireless operator Sprint is making a conscious effort to improve its own pipeline from new recruits to the C-suite, and it wants the rest of the industry to do the same. In this Women in Comms radio show, WiC Board Member and Sprint Vice President of Enterprise Sales Nelly Pitocco will give us her take on the industry's pipeline challenges. Pitocco, who joined Sprint in May and has spent 20 years in the comms industry, will also offer solutions, share how Sprint is tackling the challenge within its own organization and take your questions live on air.