SOFTWARE RADIO TECHNOLOGY PLC
(“SRT” or the “Company”)
$3.7 million order received
SRT is pleased to announce that it has received an order worth $3.7 million from an existing customer. The order is for the company’s recently launched Identifier product and will be delivered to the customer in two batches before the end of December 2012, with SRT being paid after each delivery. Rapid manufacture and delivery of the first batch will be facilitated by a strategic stock of components purchased earlier in 2012.
The ultimate customer for the Identifiers is a government in the Americas and the order of $3.7 million represents approximately one fifth of their estimated total requirement which is expected to be ordered during the course of the next three years. The exact schedule for further orders to complete the fleet rollout is dependent on the actual speed of...