Last checked at 22 Aug 2012 07:00
SOFTWARE RADIO TECHNOLOGY PLC
(AIM: SRT)
Identifier order starts shipping
Software Radio Technology plc ("SRT") is pleased to announce that the first batch of Identifiers for the $3.7million order announced in June 2012, has been shipped to the end customer. The first batch represents approximately 15% of this initial order value and the balance is expected to be shipped in two further batches before the end of December 2012.
The Identifiers will be used to improve safety and security in Central America as part of a US government supported programme. The initial order worth $3.7m represents approximately one fifth of the total estimated project requirement. Further orders are expected to be received over the next two years to complete the project.
In November 2011 SRT decided to proceed with the purchase of a strategic stock of components for its Identifier product due to the six month order to delivery lead time of components. In March 2012 the majority of these components were in stock and as a result enabled SRT to respond quickly to the customer's requirements and quickly ramp up production turning these components into final products within 6 months of order.
Simon Tucker commented: "Our Supply Chain team has done an outstanding job to quickly ramp up production of Identifiers from zero to thousands in a matter of only a few months, whilst still maintaining the required quality. Our customer and their customer visited us in Somerset last week to inspect and accept the products prior to shipment and they too were impressed with the product and supporting team. This project has been in progress for over four years and is now reached its implementation stage.
SRT is working on a number of other projects both larger and smaller in the Middle East and Asia many of which are also expected to move into their implementation phase over the next year."
Contacts: | |
Software Radio Technology plc | |
Simon Tucker, Chief Executive Officer | +44 (0) 1761 409 500 |
simon.tucker@softwarerad.com | |
WH Ireland Limited | www.wh-ireland.co.uk |
Mike Coe / Marc Davies | +44 (0) 117 945 3470 |
Allerton Communications Limited | |
Peter Curtain | +44 (0) 203 137 2500 peter.curtain@allertoncomms.co.uk |
About SRT:
Software Radio Technology plc develops advanced radio communications technologies which are used to create enabling modules and OEM products. SRT Marine Technology Limited focuses on VHF and AIS technologies for use in navigation and homeland security identification and tracking applications. SRT Marine Technology provides its solutions in a variety of module and OEM product formats.