Filtronic posts H1 loss

31st Jan 2011 07:25

Radio systems products maker Filtronic said it generated a half year loss compared to a profit the same period a year earlier and warned of the likely loss of business following Ceragon Networks' acquisition of one of its key customers Nera Networks. "Preliminary discussions with Ceragon have yet to clarify the level of Filtronic's future business, but, we are planning for a significantly lower level of PTP sales to this customer in H2 2011," Filtronic said in a company statement.Loss before tax from continuing operations came in at £1.2m for the six months ended 30 November compared to a £0.1m profit a year earlier. Revenue from continuing operations fell to £7.3m from £9.6m.Commenting on the outlook, chairman Howard Ford said, "Whilst dealing with the potential adverse impact of the acquisition of one of our key customers, Filtronic continues to further its strategy to transform the scale of the business and diversify its customer base, with an expanded range of products, to exploit significant opportunities in the wireless telecoms market presented by 3G/4G rollouts."