LONDON (Alliance News) - Strat Aero PLC Monday said it expects revenue in 2014 to exceed market expectations and said it is also on track to either meet or exceed revenue forecasts for 2015.
The aerospace services company said it anticipates revenue in 2014 to be around USD630,000, which it said is above market expectations.
It added that United States Air Force pilot training operations at Roswell in New Mexico are forecast to start generating revenue during the second half of 2015, as well as "several other significant revenue generating opportunities", meaning it remains on course to meet or exceed full-year revenue forecasts for 2015.
Due to delays in some revenue streams, revenue gains are likely to be more heavily weighted towards the second half of the year than initially expected, Strat Aero added.
Initial throughput of pilots at the Roswell training centre is anticipated to be eight pilots per month, with growth in numbers subject to ongoing review. At full capacity, 32 pilots are expected to be trained each month which would generate revenue of approximately USD12,000 revenue per pilot, Strat Aero said.
"While revenues have not developed as quickly as originally anticipated, we have made good progress on a number of business areas, including entering into discussions with the government of the Netherlands and their investment arm, Innovation Quarter, to develop the first [unmanned aerial vehicle] pilot training and research and development centre in Northern Europe; signing an MOU with 4D, an established engineering services provider to the US government; and securing an option to acquire a 70% interest in New Amsterdam, an independent industrial and energy sales and marketing group, in tandem with a marketing and sales agreement," Chief Executive Russell Peck said in a statement.
Shares in Strat Aero were trading up 2.5% at 10.12 pence Monday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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