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Stratech Maintains Growth Momentum with 50 Per Cent Rise in Full-Year Net Profit
- Full-year revenue and gross profit up 26 and 17 per cent respectively


Singapore, 28 May 2009 – Singapore Exchange Mainboard-listed Stratech Systems Limited ("Stratech" or "the Group") today announced a net profit of S$1.2 million for the financial year ended 31 March 2009 ("FY2009"), a 50 per cent growth from the S$0.8 million recorded for the previous financial year ("FY2008").

The Group posted a full-year revenue of S$15.2 million, up 26 per cent year-on-year from S$12.1 million in FY2008. The full-year gross profit of $10.0 million was also 17 per cent higher than the S$8.6 million reported for FY2008.

Full-year operating expenses were S$8.9 million in FY2009, which totalled 58.2 per cent of full-year revenue, an improvement from 64.6 per cent in FY2008.

The Group’s intelligent Vision technologies contributed 60.9 per cent to the full-year revenue, compared to 24.1 per cent in FY2008.

Revenue from international sales grew significantly from 1.7 per cent in FY2008 to 35.4 per cent this financial year.

The significant events during the year include:

• Launch of Stratech’s Vessel Identification & Positioning System (VIPS®) with the Vessel Height Measurement System (VHMS III) contract from Civil Aviation Authority of Singapore.

• Take-off of the next-generation Super BullsEye® II Advanced Weapons Scoring System.

• Entry into Latin America with the deployment of Stratech’s fourth-generation intelligent Vehicle Access Control System (iVACS® Gen 4) by the United Nations.

• Foray into Media Development, leveraging on Stratech’s leadership in intelligent Vision, in line with the Media Development Authority of Singapore’s goal to transform Singapore into a Global Media City.

• Appointment of SITA as global value-added reseller to market its iFerret™ intelligent Airfield/Runway Surveillance and Foreign Object and Debris (FOD) Detection System to airports globally.

Dr. David K. M. Chew, Executive Chairman of Stratech, said: "We are pleased with our full-year results, though we could have done better if not for the global economic crisis."


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About Stratech Systems Limited ("Stratech")

Stratech Systems Limited ("Stratech") was listed on the mainboard of the Singapore Exchange in 2000. It is principally engaged in the design, development, integration, implementation, maintenance and project management of information technology and advanced technology systems. The Group delivers large-scale complex, real-time, mission-critical systems in the areas of intelligent Vision, intelligent Transport Systems and e-Systems for governments and businesses.

Founded in 1989, the Group has established an impressive track record serving industries such as aerospace and defence, financial services, government, healthcare, homeland security and transportation (air, sea and land). The Group develops and implements advanced technology solutions that achieve significant business transformation and competitive advantage for its clients.

In 2006, Stratech won the Research and Development prize for its intelligent Airfield/Runway Surveillance and Foreign Object and Debris (FOD) Detection System at the Asia Pacific ICT Awards. Stratech’s iFerret™ (the world’s first system to utilise intelligent Vision to detect and classify foreign objects, with the ability to pinpoint the location of the foreign objects) was awarded The Enterprise Challenge (TEC) initiative by the Prime Minister’s Office of Singapore in 2006.


For more information, please visit www.stratechsystems.com

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Stratech Systems Limited
Jesmine Ong
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Email: jesmine_gk_ong@stratechsystems.com

 

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