XTEK outperforms on expectations

Xtek1The Hon Stuart Robert MP, Assistant Minister for Defence with Uwe Boettcher, ChairmanAn 18 per cent increase in income to $5.71m in 2014 from $4.83m in 2013 and a bottom line improvement of over half a million dollars through increased sales of $0.992m in 2014 continued the upward trend for homeland security specialist XTEK (ASX:XTE).

 

"While 2015 first half sales were steady, 2015 annual sales are shaping up to be significantly better than 2014 sales," says XTEK chairman Mr Uwe Boettcher.

"We have significant short term prospects across our entire portfolio and confirmed future orders of over $10m, which is a great place to be at the beginning of the New Year".

 

 

 

 

2014 has also seen XTEK introduce a number of firsts to the Australian market, improving the footprint of the business including:Xtek3David Thompson - XTEK Head of Engineering Development with the Hon Stuart Robert MP, Assistant Minister for Defence

  • The US DoD formally exercising its option to continue XTEK's Foreign Comparative Testing Program for a further 12 month period based on progress in the development of advanced lightweight hard armour plate solutions using XTclave™

  • Supply of $579k of XTEK Weapon Ancillary Components to the Australian Defence Force

  • Developing small UAVs for the local Australian market and creating a regional aerial imaging service for the commercial sector

  • Partnerships with leading international manufacturers including Morgan Advanced Materials and Trijicon

  • Launch XTEK Defence Engineering Internship Program

  • Opening of new workshop facilities and Head Office by Assistant Minister for Defence, the Hon Stuart Robert MP

  • Addition of some 10 new product lines to its range

  • Purchase Order to the value of some $7m for the supply of UAVs to the Australian Army

 

"2015 will be a tremendous year for XTEK with a strong performance expected in the second half." Mr Boettcher added.

 

 

About XTEK Limited
XTEK Limited is a leading company in the Australian Homeland Security Market and headquartered in Symonston where it recently opened its state of the art workshop facilities in November 2014. XTEK's knowledge and expertise is focused on the delivery of protection and sustaining solutions for Defence Forces, State and Federal Law Enforcement Agencies, Corrections and Customs Services, and other Government clients. For more information visit the XTEK Limited web site at www.xtek.net