After a quiet Q3 (see here) today’s trading update showed that business picked up for Anite in Q4 so it now expects to end the year with adjusted PBT for the full year at the top end of market expectations. Although revenue will be slightly below expectations the company says margins are strong.
The Propsim product line acquisition, which expanded Anite’s testing capabilities, seems to have slotted neatly into the consistently forward moving Handset Testing part of the Anite business, performing above expectations for revenue and operating profit. Even at an organic level Handset Testing revenue expanded 10% yoy and the prospects continue to look strong. There may be early indicators that the market is starting to come through for Network Testing as there was progress in Q3 and Q4 resulting in H2 revenue and profits in line with the mid to high single digit growth rates predicted. Anite has previously said it does not expect significant revenue from network testing around LTE 4G until the new financial year so the performance illustrates its grasp on the market and the basis for further growth. Full results are due on July 2.