Half Year Results and Financial Report
Sydney, Aug 18, 2021 AEST (ABN Newswire) - Etherstack plc (
ASX:ESK), the developer, manufacturer and licensee of mission critical radio technologies across the globe, is pleased to announce results for the half year ended 30 June 2021.
All amounts are in USD 000 unless otherwise specified.
Results Highlights
Revenue Growth: revenue is $4,316 up 79% on the prior corresponding period ("pcp"), with growth across all revenue streams:
o Recurring revenues from long term support contracts have increased 30% from pcp
o Royalty revenues driven by sales of licencee products which incorporate Etherstack technology and have increased 129% from pcp
o Strong project revenues
Strong EBITDA result: $1,451 EBITDA for the half year ($829 for the pcp)
Net profit after tax: $799 profit for the half year ($2,284 loss for the pcp)
Strategic Business development and contract wins:
o Samsung: In July 2021 Etherstack announced a $8,500 contract (AUD $11.6 million) with Samsung Electronics Co. Limited of Korea ('Samsung') to supply Etherstack network elements to Samsung for provision to a telecommunications carrier client of Samsung's. This is the first binding agreement with a carrier.
o Defence and Government: Etherstack was awarded contracts with UK Ministry of Defence and the Commonwealth of Australia.
o Resources: Etherstack won a follow-on order delivering technology to a Pilbara region iron ore mining company.
Reduced Borrowings: the Company continued to pay down debt during the first half of FY2021
Increased investment in R&D and development of new office and engineering facility in Sydney
To view full half year report, please visit:
https://abnnewswire.net/lnk/MW6EERS4
About Etherstack Plc
Etherstack (ASX:ESK) is the world's leading licensor of wireless technologies for the digital LMR industry and the Company develops wireless products for the main digital radio communications standards known as APCO P25, TETRA and DMR. Over the past 25 years, over twenty wireless equipment manufacturers have licensed LMR technologies from Etherstack for use in their products.
MCPTT over LTE is an emerging cellular standard that provides public safety grade PTT (Push-To-Talk) solutions within 4G and 5G cellular networks. Demand for MCPTT services and equipment by telecommunications carriers and end user agencies has been steadily growing in the past few years and is expected to rise rapidly over the next 36-48 months.
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