XTEK Receives $2.75m order from Australian Department of Defence
- Defence specialist XTEC (XTE) receives a $2.75 million purchase order from the Australian Department of Defence for its “Wasp” Small Unmannered Aerial Systems (SUAS) systems
- The new order adds on top of other orders made by the Department for SUAS spare parts and related specialist software worth a total of $4.94 million
- The order will be delivered through FY2022 and FY2023, with revenue recognition starting from Q3 FY2022
- The order will be deployed to key locations around Australia and be used to keep important UAV capability operational for the Department of Defence, CEO Scott Basham says
- XTE shares climbed 6.52 per cent following this announcement, trading at 24.5 cents per share
