Last checked at 28 May 2010 07:00
SOFTWARE RADIO TECHNOLOGY PLC ("SRT" or the "Company") Class A Transceiver Approvals Received and Shipping Commenced
SRT is pleased to announce that its new AIS Class A Transceiver has received all formal EU, US and Canadian certifications and the first units are now being shipped to customers.
The AIS Class A is designed for commercial and larger leisure vessels, incorporating many sophisticated features and functions not specified in the simpler, lower cost Class B devices.
All transmitting AIS devices, such as Class A and Class B, are required to undergo extensive independent testing and certification to ensure full compliance with the relevant AIS specifications as issued by the International Maritime Organisation. While a significant hurdle, the testing ensures that the product will operate reliably and in the correct manner. The complexity of the Class A product means that its development, testing and certification is a challenging task, reflected in the fact that SRT commenced the process in 2008.
The granting of the necessary certifications has enabled SRT to commence the shipping of this new product line to customers with significant current open orders. Production and deliveries will ramp up over the coming months in a controlled manner to ensure quality. The Class A product is sold at a considerably higher price than the Class B.
Simon Tucker, CEO of SRT, said, "The Class A development has been a long-term undertaking for SRT and I am delighted that we have delivered such an excellent product. The timing of these certifications and the commencement of deliveries to our waiting customers comes at a time when there are various market opportunities for this product around the world. For example, an EU mandate requires approximately 15,000 vessels operating along Europe's inland waterways to fit an approved Class A device over the next 18 months, with a €2,100 per unit subsidy being provided to Dutch and German vessel owners by their respective governments. We therefore look forward to this product generating strong revenue growth for SRT in the coming financial year and beyond."
SRT will announce its results for the year ended 31 March 2010 on 7 June 2010. -ends- Enquiries: Software Radio Technology plc +44 (0)1761 409500Simon Tucker simon.tucker@softwarerad.comGroup Managing Director Westhouse Securities Limited +44 (0) 20 7601 6100Tim Feather Matthew Johnson About SRT:
SRT 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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