Spectur’s September Quarter Revenue Surpassed Record High Target $1,000,000, Launches Shark Warning System

Spectur

After posting more than 2-fold jump in July and August performance, Spectur Limited (ASX: SP3) released full three months’ revenue for the quarter ended 30 September 2018.

Spectur has eyed an enormous leap since the start of Fiscal 2019 as its September quarter revenue jumped to $1.1 million, that is as giant as 161% increase on the previous corresponding period of $421,000. Whereas, in previous quarter June 2018 company’s sales revenue was $755,372. The progress is such that it has surpassed the company’s forecasted record high of $1,000,000 set for September 2018 quarter.

But, where did this growth come from?

It’s reportedly the increase in market share of the company across Victoria, Queensland and New South Wales. The revamp in pricing and cost reduction model has been another principal factor for company’s growth in sales. Driven by this significant execution of enhanced pricing strategy, the overall gross margin for the September quarter reached 60%, higher than previous financial year margins which were reported at 50%. Moreover, Spectur confirmed the target to achieve further increase in margin on the back of deferred recurring revenues. 

On the business development front, the company is set to start trials of its new Shark Warning System, due to be launched in November 2018. The trials are to be done in collaboration with the Augusta Margaret River Council to test the Spectur’s patented HD4 technology in ‘non-security’ application.

Spectur’s Managing Director Peter Holton stated that the trials of Shark Warning System represent a new evolution in the application of Spectur’s technology platform which can potentially open several opportunities for the company to enter into new markets and introduce range of applications for Spectur’s core product suite.

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The target of this system is aimed to protect the beach users from potential shark attacks. It is intended for the use of Australian as well as international swimmers and surfers who can be given the shark sighting alert to come out of the water and prevent them from entering the water or staying nearby. However, it has been reported that the system will have the time gap of up to 45 minutes between the initial sighting of a shark and beach users receiving the warning because of the variable proximity of a ranger.

This public safety system, Shark Warning uses Spectur’s cloud-based servers in real time that can be easily installed and get activated via a remote web login from any location. Further, it is said to be standalone solar powered system which will issue a loud spoke warning , say up to 98dB, on the affected beach along with a bright flashing light alerts for people in and on the water.

Today, 19 October 2018, no daily price change has been seen in the stock price of SP3 while it last traded at $0.230. Moreover, the SP3 stock has witnessed a performance change of negative 41.03 percent over the past one year.

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