Sign up Australia
Proactive Investors - Run By Investors For Investors

XTEK has strong sales pipeline and momentum

$8.5 million in revenue this financial year, subject to deliveries.
XTEK has strong sales pipeline and momentum
XTEK is a leading company in the Australian Homeland Security Market

XTEK (ASX:XTE) continues to secure contracts from defence and law enforcement agencies as part of a growing trend in defence and security spending.

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.”


Background

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.

View full XTE profile View Profile

XTEK Ltd Timeline

Related Articles

Jobs market
March 14 2018
A flexible jobs market, an increase in short-term contracts - all play to the strengths of the specialist in background checks
The D3S detector kit
April 21 2018
Kromek, formerly Durham Scientific Crystals, was incorporated in April 2003 to commercialise technology that had been developed in the Physics Department of Durham University over a period of some 20 years.
Buying online
November 15 2017
The company toned down full-year revenue guidance after a review of procedures but is still growing like topsy

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use