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ETHERSTACK PLC — Regulatory Filings 2013
Oct 23, 2013
64877_rns_2013-10-23_6ce673a5-944e-4fbd-beab-6b60d5500566.pdf
Regulatory Filings
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Etherstack plc | London 1[st] Floor, 28 Poland Street London, W1F 8QN UNITED KINGDOM E: [email protected] P : +44 20 7734 0200 F: +44 20 7437 1505
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24th October 2013
ASX Announcement
ETHERSTACK PLC
[ASX:ESK]
("Etherstack" or the "Company")
Trading Update
The Company derives its revenues from a blend of technology licensing fees, royalties, equipment sales and services. The timing of individually material technology transfers and commencement of associated royalties based on client manufacturers’ success can have material impact on the recognition of revenue in short to medium time frames.
Notwithstanding the commencement of a major new contract stage in Australia announced today, the Company is, at this time, unable to provide clear guidance on end of year financial outcomes due to material uncertainty on an existing technology licensing project and the outcome of several substantial bid processes currently underway in Australia, United States and other markets.
The expectation of the Board of directors is that the 2013 financial year outcomes will not be as positive as previously indicated in the Commentary accompanying the Appendix 4E Preliminary Final report dated 28 February 2013.
Further guidance is unlikely to be available until the outcome of these events is clarified in the coming months. Once the Company has some more certainty over these outcomes, it will update the market.
About Etherstack plc (ASX:ESK):
Etherstack is a wireless technology company specialising in licensing mission critical radio technologies to 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 can be found in radio communications equipment used in the most demanding situations. The company has R&D facilities in London, Sydney, New York, Yokohama, Barcelona, Berlin and Singapore.
For further information, contact:
David Carter Chief Financial Officer Etherstack plc +61 2 8399-7500
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English Registered Company No. 7951056 | ARBN 156 640 532
Sydney +61 2 8399 7500 [email protected]
Yokohama +81 45 342 9050 [email protected]
Singapore Barcelona New York +65 8189 6200 +34 93 487 4929 +1 917 661 4110 [email protected] [email protected] [email protected]