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- XTEK (XTE) has receives a purchase order of US$1.39 million (A$1.9 million) from the Australian Government’s Department of Defence
- The order covers the supply of spare parts to support the ongoing operations of small unmanned aerial systems (SUAS) used by Australia’s defence force
- The items are set to be delivered by XTE and recognised as revenue in the third quarter of the 2022 financial year
- CEO Scott Basham says the parts will be housed in XTEK’s SUAS repair facility in Canberra and will be used to keep important defence capabilities in the air
- Shares closed flat at 36 cents each
XTEK (XTE) has received a purchase order of US$1.39 million (A$1.9 million) from the Australian Government’s Department of Defence.
XTEK is focused on developing its proprietary technologies to deliver tailored solutions to the government, law enforcement, military, space and commercial sectors.
The recent purchase order covers the supply of spare parts to support the ongoing operations of small unmanned aerial systems (SUAS) used by Australia’s defence forces.
Accordingly, the items are set to be delivered and recognised as revenue midway through the third quarter of the 2022 financial year.
The company’s CEO Scott Basham said the order was part of the XTEK’s ongoing support contract with the department for the Land 129 Phase A4 Project.
“XTEK is the prime systems integrator for this project and we have been supporting Defence for the past five years, providing high-end technical maintenance, support and repairs to the SUAS fleet, as well as other important defence equipment such as EOD robots,” he said.
“These spare parts, which will be held in our state-of-the-art SUAS repair facility in Canberra, will be used to keep important operational unmanned aerial vehicle capabilities in the air for defence.”
Shares closed flat at 36 cents apiece.
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