World news – AU – Electro Optic Systems (ASX: EOS) EM Solutions enjoys a successful first year – The Market Herald

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Electro Optic Systems (EOS) says its recent acquisition, EM Solutions, was doing well in its first year under new ownership

It bought EOS EM for $ 10 million last year and says the company has continued to grow, win contracts, and significantly advance technology.

The Brisbane-based company is developing innovative microwave, radio and satellite products on the go that help deliver high-speed communications anywhere in the world

This is the seventh year in a row that emerging markets have grown their business, with both revenue and EBIT growing by more than 20 percent in the company’s first year under EOS

Throughout the year, EM introduced tri-band Cobra satellite communications stations to upgrade the Australian Navy frigate Anzac and the new Naval Patrol Ship programs

The company recently received an order of US $ 3 million from UC, the main contractor supplying satellite terminals for the US handloader. Defense Program These stations are based on the same basic technology that has been provided over recent years to several marine and air mobile platforms And wild

As a result of winning the last decade, EM has a confirmed backlog of orders equivalent to 14 months of production

Despite delays in critical supply chain components due to the pandemic, management expects to meet all shipments scheduled before the end of the year

EOS CEO Glenn Tindall said the EM team has worked exceptionally hard over the past year

“As government customers continue to evolve towards multi-orbiting, multi-band satellite communications, EM Solutions is uniquely positioned to offer products that provide maximum flexibility and flexibility”

“We will work to develop the next generation of satellite on-the-go stations that can support the optical technology that will be deployed by the EOS SpaceLink MEO satellite relay system,” he added.

In this afternoon market, EOS is up 147 percent and is trading for $ 5 88 per share at 12:54 PM EST

Electro Optic Systems, ASX: EOS, ASX

World News – AU – Electro Optic Systems (ASX: EOS) EM Solutions has a successful first year – The Market Herald



SOURCE: https://www.w24news.com/news/world-news-au-electro-optic-systems-asx-eos-em-solutions-enjoys-a-successful-first-year-the-market-herald/?remotepost=563014

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