Brady Regulatory News (BRY)

15 Jun 2006 13:10

New ContractBrady Plc ("the Company"), the supplier of software solutions for globalcommodity trading, is pleased to announce that it has signed a further contractto supply its flagship product, Trinity version 600, to a US based investmentbank. The initial implementation is expected to commence in June and completein 2007, and is the third significant Trinity version 600 sale of 2006 to date.The award of the contract follows an extended sales and evaluation process forthe Trinity product, which provides fully integrated support for trading, riskmanagement, back office and physical logistics.The Company is also pleased to announce that it is continuing discussions withother organizations which may result in further sales of Trinity version 600.These include discussions with an existing client regarding a significantextension of product licenses, as well as potential new client sales. TheCompany would like to emphasize that these discussions may not result in signedcontracts and, if signed, these contracts are most likely to commence in thesecond half of 2006 and result in revenue recognized late in 2006 or in 2007.The Company has frequently found that complex sales take a long time tocomplete and can be subject to delays even at later stages of negotiation.With the upturn in activity as a result of recently announced sales, theCompany has maintained staffing levels to meet its expected needs in the secondhalf of 2006 and into 2007. With the principal revenues from the recent salesexpected to be recognized in H2 2006 or 2007, these staffing costs are likelyto result in a small loss in H1 2006.ENDBRADY PLC