Ethernity Networks said it has received an order worth US$1.5mln from an existing customer to supply data processing system-on-chips (SoC), sending its shares surging 25% to 2.6p.
A statement from the supplier of data processing semiconductors said deliveries will commence immediately.
Payments will be phased, with the final payment expected by the end of the third quarter of 2023, according to the statement.
Ethernity added it has provided its customer with a “unique silicon-tuned software”, while the SoC provides “advanced networking functions, traffic control, and management for hundreds of homes.”
"The support we have provided to this customer over the past seven years has not only led to this expansion of their business, but also to ongoing development toward a second-generation FWA base station node,” said David Levi, chief executive of Ethernity
“There is clearly significant value in our collaboration with our customers, as demonstrated by this order.”