Software Radio Technology Announcement

22 August 2012
Software Radio Technology Announcement

Software Radio Technology plc announce first batch of Identifier orders start shipping

Software Radio Technology plc ("SRT") is pleased to announce that the first batch of Identifiers for the $3.7million order announced in June 2012, has been shipped to the end customer. The first batch represents approximately 15% of this initial order value and the balance is expected to be shipped in two further batches before the end of December 2012.

The Identifiers will be used to improve safety and security in Central America as part of a US government supported programme. The initial order worth $3.7m represents approximately one fifth of the total estimated project requirement. Further orders are expected to be received over the next two years to complete the project.

In November 2011 SRT decided to proceed with the purchase of a strategic stock of components for its Identifier product due to the six month order to delivery lead time of components. In March 2012 the majority of these components were in stock and as a result enabled SRT to respond quickly to the customer's requirements and quickly ramp up production turning these components into final products within 6 months of order.

Simon Tucker commented: "Our Supply Chain team has done an outstanding job to quickly ramp up production of Identifiers from zero to thousands in a matter of only a few months, whilst still maintaining the required quality. Our customer and their customer visited us in Somerset last week to inspect and accept the products prior to shipment and they too were impressed with the product and supporting team. This project has been in progress for over four years and is now reached its implementation stage.

SRT is working on a number of other projects both larger and smaller in the Middle East and Asia many of which are also expected to move into their implementation phase over the next year."