Technology firm Filtronic is working with manufacturers on new products it expects to launch before the end of the financial year, directors said.
The specialist provider of microwave electronics products and wireless telecoms, which operates its broadband business from County Durham, has held its AGM during which it released an interim management statement.
While the wireless side of the business is trading well, and working on releasing new products to the market, the broadband business is apparently suffering as a result of uncertainty in Russia.
During the first quarter of the financial year Filtronic directors said the wireless business has traded broadly in line with expectations.
The firm said: “The wireless business is currently engaged in a number of new product introductions with OEM customers, some of which we anticipate will enter production between now and the end of the financial year.
“As noted at the time of the preliminary results, the timing and volume of production contracts following on from design wins remains uncertain.
“Nonetheless, sales revenue for the financial year is projected to increase month on month and be significantly weighted towards the second half.
“These new product introductions include combiners, filters, new antenna designs and integrated filter / antenna products.
“A new, purpose built antenna assembly and testing line has been opened by our sub-contract manufacturer in China to satisfy the forecast demand for these types of products.”
The company’s said it’s broadband business has performed below expectations during the first quarter but it has picked up in the second quarter.
“However, there is a greater than usual degree of uncertainty over the second half outlook as a key customer’s product introduction, which incorporates one of our modules, has been delayed,” said the company.
“Additionally, a proportion of our modules are made for OEM customers who are selling to Russian operators, where the landscape for business has changed markedly over the last few months.
“While at this stage of the year it is too early to be clear about the second half outlook for broadband, on the balance of probability management believes that for the year as a whole broadband is likely to generate a result below current market expectations.”