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Telecoms equipment maker Filtronic said it expected to swing to an operating loss even as demand uncertainty for its recently launched antennas continued to weigh on performance.
For the financial year ended 31 May 2019, the company expected to report 2019 revenue of approximately £20.6m, down from £24.0m last year, an operating loss of approximately £1.7m, compared with a profit of £1.8m operating profit.
The loss before interest, taxation, depreciation and amortisation (LBITDA) was expected to come in at £0.5m, compared with a positive £2.5m seen last year.
The expectations for a loss come after the company warned in December that sales of the recently introduced Massive MIMO antennas into the telecoms market had been adversely affected by lower demand from its original equipment manufacturer customer than originally forecast.
'There has been a continued lack of clarity regarding future demand for this product throughout the second half of the year due to the ongoing delays in proposed corporate consolidations of the US Mobile Network Operators,' the company said.
At 8:33am: (LON:FTC) Filtronic PLC share price was -0.95p at 8.15p