Last checked at 14 Mar 2013 07:00
SOFTWARE RADIO TECHNOLOGY PLC
(AIM: SRT)
US$7 million Orders Received
Software Radio Technology plc ("SRT") is pleased to announce that it has received frame orders worth over US$7 million from customers located in North America. Approximately US$2.6 million of the orders will be delivered during the current financial year ending 31 March 2013 with the balance to be delivered over time in response to market demand.
The orders are for SRT's AIS Class A product and are a result of a general increase in demand for AIS products worldwide and pending new mandate requirements in the USA which are expected to come into force during 2013. The orders are from longstanding existing customers who have been actively selling SRT's AIS products for a number of years.
Simon Tucker, Chief Executive Officer of SRT, said: "This is a demonstration of how the global AIS market is growing. AIS is now an established marine technology and with only a very small proportion of the global vessel fleet fitted so far and momentum building, I expect we will see more of the same in the future. As the world's leading supplier of AIS technology and products, SRT's challenge will be to continue to be a reliable supplier to our growing customer base who are addressing a growing and very diverse range of markets. I believe the team we have assembled and the investments we have made over the last five years will enable us to meet that challenge."
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.