Spirent profits sliced in three

Spirent yesterday revealed that profits in the first quarter of the year had fallen by more than two-thirds on the same period last year. Spirent, whose software is used to check telecoms infrastructure, said that profit before tax had slumped from $25.5m (£16.4m) in the first quarter of last year to $7.6m. Revenues have fallen by 18 per cent to $96.8m, as Spirent lost contracts due to delays to 4G networks.