Software Radio Technology Announcement

28 September 2012
Software Radio Technology Announcement

Software Radio Technology plc announce $1.9m of $3.7m Indentifier order shipped

SRT is pleased to announce that the second batch of Identifiers for the $3.7m order announced on 8 June 2012, has been shipped to the end customer and full payment has been received for the first batch which was shipped in August 2012. SRT has now shipped $1.9m worth of Identifiers since 22 August 2012. The balance will be shipped in a single batch before the end of December 2012.

The Identifiers are being used to improve safety and security in Central America as part of a US government supported programme. The potential total value of this specific opportunity is estimated to be up to $20m for SRT. Further orders are expected over the next two years to complete the project.

SRT was able to meet the customer requirement of delivery of the entire order within six months of receipt due to it having speculatively ordered a large stock of components in November 2011, which were then mostly available in stock from March 2012.

Simon Tucker commented: "The global market opportunity for our devices is growing and our challenge this year has been to match production with demand. This remains our number one challenge, but today's announcement demonstrates that the investments we have made in supply chain management, components and stock are enabling us to meet demand as opportunities migrate into real orders."