MTI Wireless Edge Secures Three Defence Contract Wins
Why we think this is good
The announcement of three new defence contract wins for MTI Wireless Edge is positive news. The contracts are worth a significant amount relative to the company's market cap, suggesting a potential boost to earnings in the short term. While some financial details are lacking, the fact that these are with existing customers indicates lower execution risk. Overall, this appears to be a solid contract win that could drive further growth for the company.
Key Points
- MTI Wireless Edge has secured three new defence contracts worth approximately US$1.6 million
- The contracts are to be delivered over the next 20 months
- The contracts are with both local and international defence companies
- The contracts cover a range of antenna solutions including airborne, anti-jamming GPS and beam forming for drone management
Summary
MTI Wireless Edge Ltd, the technology group focused on communication and radio frequency solutions, has announced that its antenna division has secured three new defence contracts worth a total of approximately US$1.6 million. These contracts are to be delivered over the next 20 months and are with both local and international defence companies. The contracts highlight the scope of MTI's technology and capabilities, encompassing a range of solutions including airborne antenna, anti-jamming GPS antenna and sophisticated beam forming antenna to support drone management systems. While some financial details are not provided, the fact that these are with existing customers suggests lower execution risk for the company.