Ava Risk Group Limited (ASX: AVA) (Ava Group or Company) is pleased to confirm that its Technology Division has received additional orders for Future Fibre Technologies’ (FFT) world leading perimeter detection systems from exisiting government clients:
- A$630k of purchase orders for FFT’s Aura Ai-2 platform have been received to protect sensitive US Government sites.
- A$350k of purchase orders for FFT’s SecureFence platform have been received to protect military installations in a South East Asian country.
- It is anticipated that around 55% of the value of the above mentioned purchase orders will ship and be booked as revenue in the current quarter.
Ava Group Chief Executive, Scott Basham said, “In a world of heightened security, our customers are looking to Ava to harden their security and improve their risk management processes. More than half of the value of the purchase orders are for upgrading sites protected by FFT’s legacy technology. The receipt of these purchase orders further demonstates the superior nature of our products and the large addressable market to upgrade the 1,900 systems already installed within our large global customer base.
Ava remains on track to achieve our guidance of A$9m or more for Q2, and A$19m or better for H1 FY2020 for the underlying business – excluding any contribution from the Indian MOD (IMOD) project.”
Please refer to Note 1 below.
About the Ava Group
The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) is a market leader in the provision of risk management services and technologies, trusted by some of the most security conscious commercial, industrial, military and government clients in the world.
The Group features a range of complementary solutions including intrusion detection for perimeters, pipelines and data networks, biometric and card access control as well as the secure international logistics (Ava Global) and storage of high value assets. Through decades of innovation, the Ava Group continues to build upon a comprehensive portfolio of premium services and technologies for the most complex and demanding markets.
Our business truly serves a global market, with our knowledgeable team spread across six continents, providing market and industry expertise directly to customers. With thousands of sites protected, the Ava Group is proven to deliver first class services and technologies that surpass the expectations of our partners and end users.
Further information on the IMOD project is available via previous market announcements (see www.asx.com.au)
Forward Looking Statements
Information in this release is for general information purposes only. Certain statements in this document regarding the Company’s financial position, business strategy and objectives, contain forward-looking statements (rather than being based on historical or current facts) and as such, are not able to be verified.
All forward-looking statements are based on the current views of the Company’s management as well as reasonable assumptions made by, and information currently available to the Company’s management. Forward-looking statements are inherently uncertain and must be read accordingly. There can be no assurance that some or all of the underlying assumptions will prove to be valid. If assumptions are invalid this is likely to have an impact on the accuracy of the statement itself.
All data presented in this document reflects the current views of the Company with respect to future events. Forward-looking statements are subject to a variety of risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. Forward looking statements are also subject to external matters outside the control of the Company.
To the maximum extent permitted by law, the Company, its officers, employees and agents do not assume any obligation to release any updates or revisions to the information (including any forward looking statements) in this presentation to reflect any change to expectations or assumptions; and disclaim all responsibility and liability for any loss arising from reliance on this presentation or its content.