Preliminary Final Report
Sydney, Feb 17, 2022 AEST (ABN Newswire) - Etherstack plc (
ASX:ESK) is pleased to present the Preliminary Final Report/Appendix 4E for the year ended 31 December 2021.
David Deacon, Etherstack CEO noted, "2021 was a very strong year for the business from a revenue, profit and cash perspective.
Etherstack has been consistently building a recurring revenue base, an intellectual property portfolio and an opportunity pipeline containing major global communications companies.
These have combined in 2021 to produce results that the Company, the Board and myself are all proud of.
The outlook for the company is robust, underpinned by significant milestones achieved in 2021 including:
- The announcement of our first carrier deal with Samsung to supply Etherstack technology to Samsung's first carrier customer. Revenue from this single carrier contract will provide a material underpinning of the Company's finances over the next 3 years. Additional carrier wins are expected to provide a significant uplift in the Company's profitability.
- Announcing an initial contract directly with AT&T, creating an opportunity to develop a lasting relationship with the world's largest telecommunications carrier.
- In 2020, the company entered an initial deal with an integration partner to deliver a digital radio network to a Rio Tinto project in Western Australia. In May 2021, the company received the first follow-on order followed by subsequent orders in H2 2021 and the company expects further expansion in 2022 and beyond.
- Government business including Technology and services contracts with UK Ministry of Defence, Australian Department of Defence and the Australian Department of Home Affairs.
We are confident that the momentum in 2021 will continue in the year ahead and we are committed to driving further growth for our shareholders."
To view the Results Presentation, please visit:
https://www.abnnewswire.net/lnk/2Y5Y5E71
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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