Filtronic chairman remains upbeat despite £3.7m losses

The electronics specialist which operates a County Durham base reported significant losses for its last finanical year

Electronics and telecoms manufacturers Filtronic, who operate their broadband business from County Durham, posted losses of £3.7 million, before taxation in its last financial year.

The specialist provider of microwave electronics products and wireless telecoms infrastructure reported losses had widened from £0.2 million to £3.7 million in the year to end of May 2014.

Filtronic revealed sales revenues had fallen from £40m in 2013 to £32m in 2014, and a loss of earnings per share of 2.90p.

During the period the firm said it had increased the number of original equipment manufacturer (OEM) customers in both its Broadband and Wireless divisions.

A move to new premises at North East Technology Park, Sedgefield, County Durham, aimed to reduce the Broadband division’s fixed cost base.

Howard Ford, chairman, said: “Investment in the 4G equipment infrastructure market continues to grow and offer significant opportunities for both Wireless and Broadband.

“The number, scale and quality of new opportunities continues to be strong and whilst the timing and volume of contracts from design wins remains uncertain, we expect Wireless to return to growth and with the upturn we have seen in Broadband the board is confident about the prospects for the business.”

In April The Journal reported Filtronic’s issue of a profits warning, where the firm cited delays to major projects until the next financial year, including projects in key 4G markets.

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