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- XTEC receives a purchase order of $2.75 million from an undisclosed customer for an urgent supply of its specialist ballistic armour products
- XTE CEO Scott Basham says that the urgent order is a “great demonstration of the Group’s capabilities” to support their customers with little to no notice to meet urgent operation needs
- The ballistics division of the company reported $7.62 million in revenue contribution with a 25 per cent gross margin
- Contracts that XTE were able to secure in H1 FY2022 included a $1.5 million contract from the US Federal Government a 100 over US Police, Fire and Prisons run rate contracts worth $3.5 million
- XTE shares were up 10 per cent, trading at 22 cents per share at the end of the trading day
Defence specialist XTEC has received a purchase order of $2.75 million from an undisclosed customer for an urgent supply of specialist ballistic armour products.
XTEC Group CEO Scott Basham said that the urgent order is a “great demonstration of the Group’s capabilities” to support their customers with little to no notice to meet their urgent operational needs.
“By leveraging the Group’s advanced manufacturing capabilities in Adelaide, South Australia, and in Ohio, US, we were able to immediately respond to and fill this order for the urgent supply of A$2.75m of specialist ballistic products”.
The order is completed by HighCom, XTEK’s global armour brand in Columbus, Ohio which produces the company’s body armour, ballistic helmets and composite structures products.
The ballistics division of the company reported $7.62 million in revenue contribution with a 25 per cent gross margin in H1 FY22.
The contracts that XTEK were able to secure in H1 FY2022 were a $1.5 million contract from the US Federal Government and a 100 over US Police, Fire and Prisons run rate contracts worth $3.5 million.
The company’s focus in FY 2022 will be growth opportunities in the European and Asia Pacific markets and developing advanced ballistic solutions.
XTE shares were up 10 per cent, trading at 22 cents per share at the end of the trading day.
