Enablence Technologies Receives $12 million Networking Contract From Undisclosed Chinese Company
Enablence Technologies (TSX-V:ENA), a Canadian-based manufacturer and seller of telecommunications equipment, announced today that it received a $12.4 million order for its BroadAccess-1000E networking platform from an undisclosed telecom services provider based in Central Asia.
The BroadAccess-1000E is a copper and optical fibre based networking platform that gives support for telecommunication companies who provide triple-play services-broadband internet, telephone and television. The BroadAccess technology was obtained by Enablence through its $50 million acquisition of Israel-based Teledata Networks in June 2010.
Enablence said it will deliver $5 million worth of BroadAcess equipment over the next two to three weeks. The other $7.4 million worth of equipment will be delivered in the second quarter.
The contract is a significant source of revenue for Enablence, since the contract value is almost a quarter of the company's total revenue in 2009. Enablence's 2009 revenue totalled $54 million.
With the addition of Teledata Networks, Enablence hopes to expand its activities in international markets, the company said.
Since the announcement, the company's share price has rallied 7% to trade at $0.60 as of 12:14 am ET.
Related news
- Mariana Resources kicks off drilling programme at Las Calandrias gold-silver project
- Orogen Gold begins Phase 1 drilling programme at Deli Jovan
- Magnolia Petroleum on track to hit 100 wells target by end-2012
- Mwana Africa sells 15pct stake in Freda Rebecca gold mine for $405k - UPDATE
- Genel Energy on track as production increases
- Rambler Metals & Mining raises further C$4.13 million from Tinma International
- Wasabi Energy completes purchase of minority stake to own Global Geothermal
