Stratech Systems Maintains Growth Momentum in Q1
Revenue and gross margin up 54 per cent and 37 per cent respectively
Singapore, 16 August 2009 – Mainboard-listed Stratech Systems Limited (“Stratech” or "the Group" )
announced an unaudited net profit of S$0.13 million for the 3-month
financial period ended 30 June 2009 (“1Q2010”), a 131 per cent increase from the
S$0.06 million reported for the previous corresponding period (“1Q2009”).
The first-quarter revenue was S$3.28 million, up 54 per cent from S$2.13 million for
1Q2009. The gross margin of S$2.72 million (representing 83 per cent of revenue)
was also 37 per cent higher than the S$1.99 million for 1Q2009.
New businesses accounted for S$1.78 million of the revenue. This includes the
contract with the Civil Aviation Authority of Singapore for VHMS III – the third
generation Vessel Height Measurement System powered by Stratech’s Vessel
Identification and Positioning System (VIPS®).
The Group's net assets grew to S$15.33 million at the period-end, up from S$12.15
million at the end of 1Q2009 and S$14.80 million as at 31 March 2009.
Commenting on the first-quarter results, Dr. David K.M. Chew, Executive Chairman of
Stratech, said: “Our results show that the Group is keeping up with its growth
momentum in spite of the global economic crisis. In June 2009, our iFerret™ Intelligent Airfield/Runway Surveillance and Foreign Object and Debris (FOD)
Detection System took off from Singapore Changi Airport, and OCOE II (the second
generation Online Certificate of Entitlement system powered by Stratech’s dynamic
pricing and secure payment engine) went into service with the Land Transport
Authority of Singapore and was commissioned in July 2009.”
The Group's order book at the period-end stood at S$40.56 million (including options
of up to 10 years) of which S$25.02 million is expected to be delivered over the next
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
Stratech Systems Limited