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- Beam Communications (BCC) has reported an increased operating cashflow for the 2019 December quarter
- The tech provider’s cash position improved from $798,000 to $1.6 million since the September quarter
- It has available debt facilities of $2.7 million
- Key contributions include the launch of new products and receiving approval from Telstra
- Beam will expand its pipeline and expects this will be favourable to its 2021 financial year earnings
- Beam is up a healthy 6.67 per cent and shares are trading at 32 cents each
Beam Communications (BCC) has reported an increased operating cashflow and cash holdings for the December quarter in 2019.
Beam specialises in designing, manufacturing and distributing satellite, cellular and duel-mode equipment and services which have been adopted by the likes of Telstra and Iridium.
The communications servicer reported its cash position at the end of last year improved from $798,000 to $1.6 million since the September quarter. It continues to have access to undrawn debt facilities of $2.7 million.
Beam laid the foundations last quarter to see such improvements. In early December, the company launched a “world-first” device called ZOLEO which is a global messaging device for remote use.
Another milestone was securing Telstra’s approval for its MG400 4G IoT router in November last year. This would give Australian users the confidence the product is suited to Telstra’s national network.
Conveniently, this approval was given ahead of the Australia-wide shutdown of Telstra’s 3G network.
The tech company was also awarded its seventh order from Iridium Communications for the Iridium GO! device. Beam expects further orders this year.
Moving forward, Beam expects more opportunities from the launch of the Iridium mobile satellite devices using the Iridium Certus 9770 transceiver.
Additionally, it has started developing a new range of mobile satellite equipment which Beam anticipates will contribute favourably to earning from financial year 2021 onwards.
Following its operations update, Beam is up a healthy 6.67 per cent and shares are trading at 32 cents each at midday trade.
