Adacel Announces Strong Orders Performance
ORLANDO, FL --(Marketwired - May 25, 2016) - Adacel Technologies Limited (Adacel or the Company) is pleased to announce that it has secured new, renewal and expanded orders during the month of April valued at in excess of A$13.0 million.
More than two-thirds of these opportunities, a number of which are multi-year, relate to service, support and technology upgrades for existing customers of the Company's training simulator and air traffic management products.
These orders add to a solid foundation for the Company's earnings outlook and the order book for 2017 and beyond. A number of these orders will also be delivered in the fourth quarter of the financial year and further confirm the Company's earnings guidance for profit before tax being 70% above the prior year.
Adacel Chairman, Peter Landos, said, "expanding and extending the relationships we have with our key partners remains a key focus for our company. Our objective to maintain our growth whilst delivering improved predictability in our earnings remains on track."
The Company anticipates releasing its full year results and detailed commentary towards the end of August 2016.
Adacel is a leading developer of advanced simulation and training solutions, speech recognition applications and operational air traffic management systems. Adacel is particularly well known for innovations within the ATC simulation and speech recognition fields. The Company's products are widely used throughout North America, Europe, the Middle East and the Asia Pacific region. Adacel is listed on the ASX and further information on the Company can be found on its website at www.adacel.com.
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