Communications technology firm Software Radio Technology (LON:SRT) has won a US$1.8 million order for automatic identification system (AIS) products from an existing customer based in the EU.
Simon Tucker, SRT?s chief executive officer, said that although the firm continues to receive regular orders the size of this order ?demonstrates that there are increasingly significant market opportunities? arising for SRT?s customers for which its growing range of products is ideally suited.
SRT, which said in April that it expects to report turnover of ?9 million for the year to 31 March when it reports its final results later this summer, raised ?2.5 million in a placing last November.
The firm?s AIS technologies are used by customers to identify and track ships and boats. And not only does AIS help with identification and tracking, but it also allows vessels to ?see and be seen?. In 2002, the International Maritime Organization required that all boats over 300 tonnes use AIS ? which is an international technology standard, developed and maintained by the International Electrotechnical Commission.
In April, Tucker reported that SRT was seeing strong demand for these products and that the firm now had over 40 customers around the world.
Also in April, SRT announced it had won a US$665,000 order from a Chinese customer for its Class B AIS module.
SRT is also active in the digital professional mobile radio market, producing communications systems for personnel in the military, police, ambulance and transport professions.
As of 11.28am this morning, the company?s shares were 1.5 per cent higher at 38.1 pence each.
Source:http://www.proactiveinvestors.co.uk/companies/news/28410/software-radio-technology-gets-18m-order-from-eu-customer-28410.html
Source: http://onlysoftwareblog.com/2011/05/software-radio-technology-gets-1-8m-order-from-eu-customer/
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