- Structural Monitoring Systems (SMN) says its wholly-owned subsidiary, Anodyne Electronics Manufacturing (AEM) is performing strongly
- AEM’s March sales have been confirmed at $2.065 million — a comfortable increase compared to the same period last year
- The company’s April sales have already eclipsed the record total set last year, with more potential sales to add through the month
- Given AEM’s key clients provide services like law enforcement, fire protection and military aircraft, the company has been deemed ‘essential’
- Accordingly, the demand for AEM’s products will remain relatively unchanged, even amid pandemic conditions
- Given AEM’s strength, SMN believes it can be cautiously optimistic about its way forward through the crisis
- Structural Monitoring Systems finished down 8.6 per cent on Monday, with shares trading for 48 cents each
Aircraft tech developer Structural Monitoring Systems (SMN) has announced its wholly-owned subsidiary, Anodyne Electronics Manufacturing (AEM) is performing strongly even amid the global COVID-19 economic downturn.
Strong performance despite downturn
AEM’s March sales have been confirmed at $2.065 million — a comfortable increase compared to the same period last year at $1.717 million. Current orders for April stand at $2.116 million, with the possibility this could increase through the month.
This figure also eclipses last year’s numbers for the same period — which at $2.106 million stood as AEM’s all-time record, until now. Forward orders for May and June are also building in line with the increasing trend of AEM’s sales.
Given AEM’s key clients provide services like law enforcement, fire protection and military aircraft, the company has been deemed ‘essential’ by the Canadian government, so operations can continue, albeit while maintaining necessary pandemic safety protocols.
The demand for AEM’s product will remain relatively inelastic amid pandemic conditions — a lucky turn for the company during such an unprecedented time of global economic uncertainty.
And an even stronger future?
AEM’s research and development department continues to work on a number of new products which will further add to the company’s suite of available technologies; products for which Structural Monitoring will own the intellectual property.
AEM expects to deliver a new product to major European clients later this year, which the company is keen to emphasise is in addition to its pre-existing products and sales. And fair play to them — they must be one of the few companies to be expanding aside from producers of medical supplies and disinfectants.
AEM also stresses it has complex and considered risk mitigation strategies in place to deal with any supply chain or internal conflagrations as a result of the COVID-19 pandemic.
Structural Monitoring believes it can be cautiously optimistic about its way forward through the crisis. With AEM kicking goals, and SMN’s risk mitigation and cost-cutting strategies already in place, the company says it’s well set to navigate the ongoing disruptions to world markets.
SMN will provide further updates on its commercial and development activities in coming weeks, but for now, it seems it’s all blue skies for the aircraft tech developer.
Structural Monitoring Systems finished down 8.6 per cent on Monday, with shares trading for 48 cents each.