Senao Networks' May Revenue Down 15% MoM Due to Customer Product Revision, Compensation Secured
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Senao Networks (3491), a low-earth orbit (LEO) satellite and millimeter-wave communication component maker, reported May revenue of NT$296 million, down 15% month-on-month. The decline was due to a temporary suspension of shipments for a customer's product revision. However, the customer paid cancellation compensation, so profitability was not affected. LEO satellite revenue still accounted for 75% of May sales, and cumulative revenue for the first five months grew over 50% year-on-year.