07:18 AM EDT, 05/15/2025 (MT Newswires) -- Vecima Networks ( VNWTF ) on Thursday reported a drop in third-quarter net income and revenue.

The company said net income fell to $1.2 million, or $0.05 per share, from $5.8 million, or $0.24 per share, in the prior year period.

Adjusted earnings per share, which excludes most one-time items, was $0.02 per share, compared with the previous year's $0.31 per share. The result was significantly below the FactSet consensus analysts estimate of $0.15 per share.

Revenue decreased 20% to $64 million over the same period. The company said Video and Broadband Solutions segment revenue, which registered a 30% decline, continued to be impacted by customer project timing, including finalization of the large-scale programs.

"As we move into the final quarter of our fiscal year, we expect demand volatility could continue in our VBS segment depending on customer project timing. Trade actions between the U.S. and other countries add additional uncertainty to our outlook, although to date, impacts on the approximately 90% of our sales made to the U.S. have been negligible," said Chief Executive Sumit Kumar.

Vecima will pay a quarterly dividend of $0.055 per share on June 23.