Last checked at 5 Apr 2013 07:00
SOFTWARE RADIO TECHNOLOGY PLC
("SRT" or the "Company")
Trading Update
SRT is pleased to announce that results for the year ended 31 March 2013 are expected to be ahead of market expectations with revenue increasing 60% year on year to £10 million. EBITDA and profit after tax are expected, subject to audit, to be approximately £2.2 million and £1.5 million respectively. The year end cash position was £1.5 million.
During the year, SRT continued to invest heavily in new product development, launching a new product on average every 12 weeks. This has included the Aids to Navigation product which has been well received by the market and is now in production. In parallel the Company has expanded its global customer network to over 90 partners who are in turn addressing an ever wider range of market opportunities.
Simon Tucker, SRT CEO said: "Our years of technology, customer and market investments have placed SRT at the hub of the global automatic identification system (AIS) market. As demand for AIS functionality, and therefore products, expands we are now seeing this reflected in our financial performance. I believe we are at the beginning of this growth path and our financial performance for the year just ended provides a strong platform."
The Company would also like to advise of the following investor events timetable:
Wednesday 17 April 2013 at 7:30 a.m. - Simon Tucker will hold a live web cast and answer investor questions. A further announcement providing details will be made in due course.
Tuesday 11 June 2013 - SRT will publish its final results for the year ended 31 March 2013.
Tuesday 2 July 2013 at 11.00 a.m. - SRT will hold its AGM at its offices in Somerset.
Details of all investor events will be provided in the investors section of our web site from Monday 8 April. www.softwarerad.com
Contacts: | |
Software Radio Technology plc | |
Simon Tucker, Chief Executive Officer | +44 (0) 1761 409 500 |
simon.tucker@softwarerad.com | |
WH Ireland Limited | |
Tim Feather | +44 (0) 20 7220 1666 |
Allerton Communications Limited | |
Peter Curtain | +44 (0) 20 3137 2500 |
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 customisable module and OEM product formats.