25th Feb 2015 09:36
LONDON (Alliance News) - Software Radio Technology PLC on Wednesday said it expects to report a rise in revenue for its financial year and said it may post higher numbers dependent on the timing of contracts.
The maritime communications company said it expects its revenue for the year to the end of March to be at least GBP8.5 million, up from GBP6.1 million last year.
It said a further upside risk to its revenue forecast exists dependent on the timing of customer orders related to the regulatory requirement in the US for commercial vessels to fit AIS receivers and a Middle East national fleet tracking project.
The company said it now has 21 validated fleet monitoring project and mandate sales opportunities worth a potential GBP200 million in revenue.
"Our current sales opportunity pipeline remains a small subset of the overall marine domain awareness market potential. It is the result of many years' work with our partners and the authorities in each territory who are the ultimate drivers," said Software Radio Chief Executive Officer Simon Tucker.
Shares in Software Radio were up 4.3% to 30.50 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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