Communications technology company Spirent Communications plc (SPT.L, SPM) posted a plunge in first-quarter reported operating profit to $7.6 million, from $25.5 million, with quarterly basic earnings per share plummeting to 0.85 cents, from 2.67 cents in the prior-year quarter.
On an adjusted basis, operating profit decreased by $15.6 million to $10.5 million, with basic adjusted earnings per share totaling 1.19 cents in the recent period.
Reported revenue fell by 18% to $96.8 million in the quarter, from last year's $117.4 million.
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