Filtronic plc, which has a site at Sedgefield in County Durham, has seen its half-year results plummet on the back of project delays and tough trading conditions.
The firm, which designs and manufactures microwave electronics products for the wireless telecoms infrastructure market, has reported revenues of £7.3m for the six months ended November 30 2014, compared to to £20.1m in the comparable period the previous year.
Wireless sales dropped from £16.5m to £3.9m, while broadband sales saw a slight reduction, from £3.6m to £3.4m
The company reported an operating loss for the period of £4.1m, compared to a £1.7m profit the year before.
Filtronic’s customers include leading international original equipment manufacturers as well as a wide range of mobile phone network operators.
Filtronic chairman Howard Ford said: “Whilst we are disappointed with the sales performance in the first half and foresee that the upturn in the second half is likely to be later than we had originally planned, we remain confident in our strategy and in the sales growth potential from the OEM products we have developed and are continuing to develop leading to a much improved trading performance over the medium-term.”
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