Last checked at 6 Dec 2010 07:00
SOFTWARE RADIO TECHNOLOGY PLC ("SRT" or the "Company") New US$900,000 AIS Order Received
Software Radio Technology plc ("SRT" or the "Company") is pleased to announce that it has received a repeat order from an existing customer worth approximately US$900,000.
This order increases SRT's order book value as at 6 December 2010 to US$8.1 million, the majority of which is expected to be delivered within the current financial year.
The order has been received from an existing customer who has been supplying SRT's Class A product primarily into EU commercial markets. There are a number of mandates now in effect in the EU which require certain types of vessels to fit AIS devices. The two largest are the Inland Waterway mandate which requires most commercial vessels operating along the Rhine to install an AIS device by 2012 and the EU fisheries mandate which requires all commercial fishing vessels in the EU to fit an AIS device by 2014. Together these mandates affect over 40,000 vessels, of which SRT estimates approximately 20% have been fitted to date.
Simon Tucker, SRT's Chief Executive Officer, said: "The two major EU mandates are only one segment of the global AIS opportunity that SRT and its partners are addressing. We seek to work closely with each of our partners to maximise their success in their particular target market segment. As demonstrated by this new order, our strategy of long term investment in technologies, products and partnerships is working as the demand for AIS devices grows. We continue to deliver daily against our order book and regular customer orders as well as meeting the challenge of targeting new markets with our partners."
-ends- Enquiries: Software Radio Technology plc +44 (0)1761 409500 Simon Tucker simon.tucker@softwarerad.com Chief Executive Officer Westhouse Securities Limited +44 (0) 20 7601 6100 Tim Feather Matthew Johnson Leander PR 07795 168157 Christian Taylor-Wilkinson 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.
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