22nd Jan 2015 09:12
LONDON (Alliance News) - Software Radio Technology PLC said Thursday it has received orders worth USD1.1 million for a range of its Automatic Identification System products.
The company expects to process and ship the orders during its current financial year to end-March.
"With the long pending US Coast Guard AIS rule, which will require a large number of commercial boats to install an AIS transceiver, now awaiting final publication, these orders were driven by customers wishing to ensure that they have some stock to meet initial demand. We look forward to this, and other pending mandates, coming into effect," said Chief Executive Officer Simon Tucker in a statement.
Shares in Software Radio Technology are trading down 0.6% at 32.06 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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