SOFTWARE RADIO TECHNOLOGY PLC
("SRT" or the "Company")
Class A Transceiver Approvals Received and Shipping Commenced
SRT is pleased to announce that its new AIS Class A Transceiver has received
all formal EU, US and Canadian certifications and the first units are now being
shipped to customers.
The AIS Class A is designed for commercial and larger leisure vessels,
incorporating many sophisticated features and functions not specified in the
simpler, lower cost Class B devices.
All transmitting AIS devices, such as Class A and Class B, are required to
undergo extensive independent testing and certification to ensure full
compliance with the relevant AIS specifications as issued by the International
Maritime Organisation. While a significant hurdle, the testing ensures that the
product will operate reliably and in the correct manner. The complexity of the
Class A product means that its development, testing and certification is a
challenging task, reflected in the fact that SRT commenced the process in 2008.
The granting of the necessary certifications has enabled SRT to commence the
shipping of this new product line to customers with significant current open
orders. Production and deliveries will ramp up over the coming months in a
controlled manner to ensure quality. The Class A product is sold at a
considerably higher price than the Class B.
Simon Tucker, CEO of SRT, said, "The Class A development has been a long-term
undertaking for SRT and I am delighted that we have delivered such an excellent
product. The timing of these certifications and the commencement of deliveries
to our waiting customers comes at a time when there are various market
opportunities for this product around the world. For example, an EU mandate
requires approximately 15,000 vessels operating along Europe's inland waterways
to fit an approved Class A device over the next 18 months, with a €2,100 per
unit subsidy being provided to Dutch and German vessel owners by their
respective governments. We therefore look forward to this product generating
strong revenue growth for SRT in the coming financial year and beyond."
SRT will announce its results for the year ended 31 March 2010 on 7 June 2010.
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Enquiries:
Software Radio Technology plc +44 (0)1761 409500
Simon Tucker simon.tucker@softwarerad.com
Group Managing Director
Westhouse Securities Limited +44 (0) 20 7601 6100
Tim Feather
Matthew Johnson
About SRT:
SRT develops advanced radio communications technologies which are used to
create enabling modules and OEM products. SRT Marine Technology Limited focuses
on VHF and AIS technologies for use in navigation and homeland security
identification and tracking applications. SRT Marine Technology provides its
solutions in a variety of module and OEM product formats.