Elsight Limited (ASX: ELS) offers video and data capturing, recording, and transmission serving tactical security and surveillance purposes for security solutions, detection, verification, and investigation. The companyâs portfolio has a whole range of innovative products that include wearable and portable devices, vehicle-mounted devices and fence mounting device. These types of equipment are basically used for the purpose of securing the city and various sensitive facilities.
The equipments are remotely controlled by the companyâs trademark C&C software for the purpose of monitoring, dispatching and recording. Elsight is quite prominent among the defence and military types of customers namely Special Forces, police. The company is also a very significant player when it comes to the markets other than defence, for applications such as surveillance of various critical facilities namely Gas/Oil farms, Airports, urban, crowded Areas, Cash-in-Transit.
The company has via a recent ASX release stated its revenue update and the outlook for the calendar year 2018. The company has seen a considerable rise in the revenues in Q4, and thus the board has confirmed that the company has achieved an actual revenue of US$1.60 Mn for the current year. The same levels were also predicted in the activity reports of the company which were released earlier dated 31 October 2018.
The company expects a few more orders to be delivered in the month of the December 2018 and hence expects the revenue for the year 2018, to be ~US$1.650 Mn. This exhibits an increment of 70% over the previous year on a YoY basis.
There are various large deals and tenders still under the pipeline & are on track, and most of them are expected to be closed in the year 2019. Moreover, there are various business development activities which are in the process with significant Original Equipment Manufacturer (OEM) partners and the United States of America. These business development activities would also lead the company towards the expected results for the year 2019 and beyond.
Prior to this, there was a release by the company which stated that the company had been successful in garnering a contract from Alrena Technologies to supply 50 new Smart Medicase kits for the year 2019. The first ten kits are expected to be delivered before the end of 2018. These orders would be worth around US$500,000 in accordance with the partnership agreement which was signed in the year 2017.
These Smart Medicase kits will enable medical professionals in remote and rural areas to provide lifesaving treatment via telemedicine. This solution has been adopted by various French authorities.
Meanwhile, the share price of the company has risen 41.30 percent in the past six months as on 18 December 2018. ELSâs shares traded at $0.710 with a market capitalization of circa $62.33 Million as on 19 December 2018 (AEST 03:50 PM).
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