UK Defence Win and Guidance Upgrade
UK Defence Win and Guidance Upgrade
Sydney, May 27, 2021 AEST (ABN Newswire) - Etherstack plc (ASX:ESK) wishes to advise that its UK subsidiary Etherstack Wireless Limited has been awarded a contract with UK Ministry of Defence for technology and services, with an initial value of GBP220,000 (~USD$311,000).

In conjunction with the Commonwealth of Australia win announced yesterday, these two deals will contribute collectively ~US$700,000 additional revenue to the current financial year ending 31 December 2021.

Based upon the expected revenue to be recognised in the current half year ending 30 June 2021 Etherstack wishes to revise its half year revenue guidance upwards as described below.

Management advises the following expectations:

- Revenue Uplift: Management wishes to revise the revenue guidance provided in the Trading Update dated 14th May 2021. The Company now expects revenue for the half year ending 30 June 2021 to be in the range of US$3.5m to US$4.0m, representing an increase over the corresponding H1 period in 2020 of between approximately 46% to 66%.

- Further Orders Expected: In addition to the awards announced today and yesterday, management expects that further revenues in the current half year may be derived from the successful conclusion of advanced negotiations in progress, which will be announced if and when signed.


About Etherstack Plc

Etherstack plcEtherstack (ASX:ESK) is a wireless technology company specialising in developing, manufacturing and licensing mission critical radio technologies for wireless equipment manufacturers and network operators around the globe. With a particular focus in the public safety, defence, utilities, transportation and resource sectors, Etherstack's technology and solutions can be found in radio communications equipment used in the most demanding situations. The company has Research and Development facilities in London, Sydney, New York and Yokohama.

 


Contact

Etherstack
David Carter, Chief Financial Officer
T: +61 2 8399 7500
www.etherstack.com

Media: Walbrook Investor Relations
Mr. Ben Knowles
T: +61 426 277 760
ben.knowles@walbrookir.com.au



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