The company won a NIS 12 million order for hundreds of subsystems for target acquisition and marking.
Azimuth Technologies Ltd.’s (TASE:AZTC) orders backlog has jumped by a quarter overnight. The military products developer today announced a new NIS 12 million order from a US customer for the US government to supply hundreds of subsystems for target acquisition and marking. The company said the units would be delivered in 2007-08.
Azimuth’s orders backlog was NIS 50 million at the end of June; the new order boosts it by an encouraging 24%. Since this is a follow-on order by a repeat customer, Azimuth president and CEO Yossi Gonen said it was a vote of confidence in the company and its products. “We were selected, in part, because we integrate the use of advanced materials that give better performance for the lowest systems weight critical features for systems carried by people,” he said.
Azimuth and its subsidiaries Advanced Technology and LTD develop, manufacture, and market GPS-based systems and products, data communications, and opto-mechanical and electromechanical products for military and paramilitary forces and civilian industries. The company posted a profit of NIS 70,000 on NIS 35 million in turnover in the first half of 2006.
Published by Globes [online], Israel business news - www.globes.co.il - on November 21, 2006
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