Anite has given its investors some good news ahead of its AGM later today with an interim statement (for the May 1 to September 14 period) that shows the handset testing business performing ahead of last year and ahead of expectations on multiple fronts – order intake, revenue and adjusted profit margin.
The network testing business was only inline with expectations, but is expected to rise as more (planned) resources are put into further development of the new Invex 4G benchmarking product.
Revenue and adjusted operating profit in Q1 were in line with expectations for the travel part of the business, which Anite described last quarter as approaching an inflection point (see Anite shows a happy wireless face but travel still frowns). It benefitted from contract extensions with existing major customers, and the order book and pipeline is reported to be strong.
Anite is doing well out of the evolution to 4G. The news that the already late running UK 4G spectrum auction is likely to be delayed again and Ofcom’s statement that 4G is unlikely to be rolled out here until 2013 at the earliest, will not be good news for the company so it is fortunate for UK-based Anite that most of its business is international.