viewSenSen Networks Ltd

SenSen Networks receives new order from Brisbane City Council

The company will earn upfront revenue for the systems, software and commissioning of the units.

SenFORCE parking enforcement unit mounted on a car
It will also earn annual recurring revenues under the contract.

SenSen Networks Ltd (ASX:SNS) has received new orders to supply two additional fully automated parking enforcement units to Brisbane City Council (BCC).

The additional services are to be supplied to BCC by SenSen by 30 June 2019 and include two SenFORCE units.

SenFORCE unit is attached to patrol car A parking officer will drive a vehicle outfitted with the SenFORCE system with all zones and parking rules (time and permit based) preloaded.

It is mounted on roof racks capable being switched from one vehicle to other in less than 10 minutes.

Builds on prior relationship with BCC

SenSen signed a multi-year contract with the BBC, Australia’s largest Council, in February 2017, to provide a range of solutions relating to suburban safety mobile technology.

This new order brings the total to five vehicle mounted systems to help automate parking enforcement and sign audit processes and assist in managing the city’s traffic congestion problems.

READ: SenSen Networks posts steady growth in March quarter

SenSen Networks earned more than $588,000 in revenue and $602,000 in cash receipts during the March 2019 quarter.

The company also had $3.18 million cash on hand at the end of the March quarter.

SenFORCE parking enforcement is an alternative to parking inspectors on foot.

Quick facts: SenSen Networks Ltd

Price: 0.087 AUD

Market: ASX
Market Cap: $39.2 m

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