(Sharecast News) – Telecommunications testing firm Spirent said full-year profits were expected to be in line with expectations after a strong fourth quarter driven by work on 5G infrastructure.
The company on Monday said revenue grew by 4% to $522m and adjusted operating profit was forecast to be in line with market consensus “which represents strong earnings growth over 2019”.
Spirent added that it was reviewing its cash position against the future outlook and investment opportunities and would return any money deemed excess to shareholders.
Adjusted operating margin has increased to almost 20% from 18% in 2019, Spirent said in a trading statement.
Cash closed at $241m, with high conversion driven from continued strong working capital management.
