New WA Resources Deployment Valued at $1m
- New project will provide AUD $1 million in revenue for FY 2022
- Seventh order received since May 2020 for this WA resources sector end user
- Aggregate orders of over AUD $2.3 million now received since May 2020 for this end user
- Additional orders are expected for recurring support for this end user, with expected commencement in H2 2022
The order is to deploy a network at a new mine in Western Australia and will provide the Company A$1m in revenue which will be fully recognised in FY2022. The network deployment is also expected to contribute to additional long term annual support revenues commencing in FY2023.
Additional recurring revenues from support associated with networks previously announced and deployed to the end customer during FY2021 are expected to commence in H2 FY2022.
This order represents the seventh order for the Company's digital radio technology for new mining projects with the end resources customer in the past 24 months. The combined value of these seven orders since May 2020 is in excess of A$2.3m and Etherstack management are confident of further follow-on orders within the next 12 months to the same end user.
Etherstack CEO, David Deacon said, "Our Australian manufactured P25 network technology has performed extremely well in previous deployments with the end customer. We believe they value local access to our design, manufacturing and support team. We look forward to growing the relationship and providing unmatched support for decades to come."
About Etherstack Plc
Etherstack (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.