- Net operating cash flows up by over $600k to $645k for the quarter
- Net investing cash flows includes $1.8m strategic investment in MaxSec
- Cash position of $5.5m, with no debt
Future Fibre Technologies Limited (ASX: FFT), a global leader in fibre optic intrusion detection systems, today released its Appendix 4C for the quarter ended 30 September 2017.
FFT Chief Executive Rob Broomfield said: “As evidenced by announcements in recent months, including initial Aura Ai contract wins and significant orders for FFT’s broader family of fibre optic security solutions, we continue to make positive progress on a number of fronts. As well as stronger revenues from the Perimeter Intrusion Detection market, FFT’s Distribution and Adjacent Markets (safety and sensing) strategy has contributed to the quarter’s sales revenue, with Data Network Security contracts also forming part of 2Q FY2018 backlog.“
Of the $7.5m of contracts secured for FY2018 to date, $4.3m was invoiced in the quarter, an increase of 87% on 1Q FY2017.
FFT’s revenue growth, combined with improved gross margins and reduced operating costs, delivered an unaudited net profit of $0.6m for the quarter.
FFT finished the quarter with $5.5m cash at bank following a $1.8m investment for a 13% strategic stake in MaxSec Group Limited (ASX: MSP). MSP is currently the subject of a proposed takeover offer from FFT.
Gross forecast cash outflows of around $3.5m are expected for next quarter. This excludes cash inflows from customer payments and government grant proceeds.
View Appendix 4C.
FFT is a leading developer and manufacturer of fibre optic perimeter intrusion detection security systems. Deployed by some of the most security conscious industrial, military and government organisations in the world, FFT’s advanced security systems:
- detect and locate perimeter intrusions;
- identify third-party interference on oil and gas pipelines; and
- protect sensitive data network communications cables.
With over 1,000 systems installed in more than 65 countries, FFT has established a solid reputation for delivering highly intelligent, reliable, and award winning intrusion detection solutions. www.fftsecurity.com