Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) has updated investors on its fibre controller business which has secured supplies of components that will enable it to fulfil contracts worth US$3.3mln in revenue in the current year.
The company, in a statement, noted that this will represent nearly 80% of the pipeline from these contracts this year.
It added that it intends to keep working with new customers and with the existing customer to secure and deliver beyond the currently contracted volumes.
"We're pleased that we have concluded a process to secure components to meet the planned, contracted deliveries," chief executive David Levi said.
Ethernity added that certain products were successfully factory tested – these include Passive Optical Networking (PON) products, including XGS-PON Optical Line Termination (OLT) and Fibre-to-the Room (FTTR) products.
It is now progressing with the existing customer on deployment.
Meanwhile, it is also now engaged in further testing and discussions with other major OEMs for its PON fibre controller devices and PON systems over and above the current signed contracts.
The company noted that it continues to target sales of licensing fees for its PON fibre controller System-on-Chip (SoC) and sales of its PON fibre controller OLT system in various configurations.