Business
Final Results For The Year Ended 31 March 2010
Final Results For The Year Ended 31 March 2010.
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n \n SOFTWARE RADIO TECHNOLOGY PLC \n\n FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2010 \n\nSoftware Radio Technology plc (\"SRT\" or the \"Group\"), the AIM-quoted developer\nand provider of maritime identification and tracking technologies and products,\nannounces its results for the year ended 31 March 2010.\n\nKey events:\n\n * 41% increase in revenue\n \n * 78% increase in cash\n \n * Gross profit margin increased to 38.7%\n \n * Losses reduced by 81%\n \n * SRT is debt free\n \n * $4 million forward order book as of 1st April 2010\n \n * New products developed and launched\n \n * Multiple new mandates announced and activated affecting up to 500,000\n vessels over next 3 years.\n \nThe Group is reporting a 41% increase in revenues to £3.56 million and an 81%\nreduction in losses for the year to £221,000, with a 78% increase in cash to £952,000.\n\nSRT Chairman Simon Rogers said: \"I am delighted to report that 2009/10 has been\na transformational year for SRT and that our heavy investment in AIS\ntechnologies and the development of a global customer base are now starting to\nbe reflected in financial performance. With a $4 million order book, new higher\nvalue and margin products and mandates affecting many thousands of vessels\nunderway, the outlook for 2010/11 and beyond is very positive.\n\n\"In 2009/10 we saw our business grow by 41%, compared to 15% during 2008/09.\nThis acceleration in growth has been caused by the activation of long planned\nmandates, such as in Singapore, Turkey and China during 2009 and the subsequent\ncommencement of orders. Each of these mandates is over a period of years and\ntherefore we have only just started to see their effect which will continue to\ngrow in the future\".\n\n\"We enter the new financial year with a strong order book and improving\nvisibility on future demand for our products. The combination of our proven\nmarket leading technology, our customers' sales channels and strongly growing\nglobal demand mean that we look forward to continuing strong growth in the\ncoming year and beyond.\"\n\nSoftware Radio Technology plc 01761 409500\nSimon Tucker [email protected]\n \nWesthouse Securities Limited 020 7601 6100\nTim Feather \nMatthew Johnson \n \n\nCHAIRMAN'S STATEMENT\n\nI am delighted to report that 2009/10 has been a transformational year for SRT\nand that our he...