The company posted income for the March quarter of $4.1 million, significantly higher than the $1.1 million for the prior December quarter.
Momentum is set to continue with orders in hand at the end of March totalling $4.4 million, all of which should be invoiced this financial year.
A number of new contracts were won during the March quarter, which has provided a platform for the company to deliver strong revenue growth in the current final quarter of FY17.
XTEK expects to deliver a positive finish to FY17 off the back of a strong pipeline of sales opportunities.
Philippe Odouard, managing director, commented:
“XTEK is uniquely placed to benefit from the global trend of increased government spending on security equipment and technology in the face of growing global uncertainty.
“We expect this trend to persist over the next few years as Australia is committed to keeping pace with its allies and regional neighbours in this area.
“At the same time, we are set to achieve additional milestones for our unique and innovative technologies in the near term, which will give investors several things to look forward to as we widen the field of application of our technology to new fields beyond ballistic protection.”
XTEK is a leader in homeland security equipment for the military and police sectors.
The company focuses on 3 main segments:
- Explosive ordnance disposal (EOD) equipment;
- Unmanned aircraft systems (UAS), unmanned aerial vehicles (UAV) and real time tactical imagery; and
- Ballistic protection and weapons: high-end protection equipment (plates and helmets) as well as its own sniper rifle.
XTEK provides development, manufacture, marketing, sales, training, technical support and maintenance for its products and services through highly experienced professionals and scientists in these fields.