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ETHERSTACK PLC — Regulatory Filings 2022
Sep 6, 2022
64877_rns_2022-09-06_ecb6aa18-4779-4f12-b4bb-5eb2b2bfc653.pdf
Regulatory Filings
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7[th] September 2022
ASX Announcement
ETHERSTACK PLC
("Etherstack" or the "Company")
ETHERSTACK SIGNS A$1.7m AUSTRALIAN DEFENCE FOLLOW-ON CONTRACT
Key highlights
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Follow-on contract to the first stage Australian Defence contract announced in December 2020
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Revenue of A$1.7 million will be earned over FY 2022 and 2023 under the new contract
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Etherstack providing defence communications technology and services
Etherstack plc (ASX:ESK) is pleased to announce that its subsidiary Etherstack Pty Ltd has entered into a second technology licencing agreement with the Commonwealth of Australia to supply Etherstack technology, services, and third-party equipment to the Australian Department of Defence.
This contract is a follow-on order to the initial A$4.1 million project announced on 7 December 2020. This second stage of the program is A$1.7 million, with the majority of revenue to be recognised over FY 2022 and 2023.
As with the first stage contract, management expects that further work packages will be contracted based on performance of the currently contracted work packages, but advises that future work packages cannot be guaranteed.
Anna Squires, Director of Etherstack’s Defence Division said, “We are delighted that the successful progression of the first contract has been recognised with the award of a follow-on contract that extends the program and continues Etherstack’s relationship with the Australian Department of Defence.”
Etherstack CEO, David Deacon added, “This program builds upon existing Etherstack technology and creates a significant Australian export opportunity. The solution is repeatable and the first of its kind that will be compliant to a specific military standard. Etherstack expects interest from both existing and new radio manufacturer customers internationally, as well as other sovereign nations where we will attempt to rapidly capitalise through licensing the solution. We have a proven track record of engaging and contracting with this customer base.”
Authorised for release by David Carter, Company Secretary
Enquiries
Etherstack Investor Relations: David Carter, Chief Financial Officer Melanie Singh T: +61 2 8399 7500 T: +61 439 748 819 [email protected] [email protected]
English Registered Company No. 7951056 | ARBN 156 640 532
Sydney (GMT+10) . P : +61 2 8399 7500 . E: [email protected] London (GMT) . P: +44 207 734 0200 . E: [email protected] Yokohama (GMT +9) . P: +81 45 342 9050 . E: [email protected] New York (GMT-5) . P: +1 917 661 4110 . E: [email protected]
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About Etherstack plc (ASX:ESK):
Etherstack 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 R&D facilities in London, Sydney, New York and Yokohama.
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Visit our website: www.etherstack.com
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Authorised for release by David Carter, Company Secretary
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English Registered Company No. 7951056 | ARBN 156 640 532
Sydney (GMT+10) . P : +61 2 8399 7500 . E: [email protected] London (GMT) . P: +44 207 734 0200 . E: [email protected] Yokohama (GMT +9) . P: +81 45 342 9050 . E: [email protected] New York (GMT-5) . P: +1 917 661 4110 . E: [email protected]