Future Fibre Technologies Limited (ASX: FFT) (“FFT” or the “Company”) today updated its guidance for the financial year ending 30 June 2018 (FY2018) as part of an ongoing management review of the Company’s business development and procurement cycles.
Revised guidance for FY2018 is for sales revenues of between $18 million and $21 million2 (previously $16 million to $20 million).
FY2018 is expected to be both cash flow and EBITDA positive.
Since the release of FFT’s previous guidance, the Company has experienced increasing demand for its intrusion detection solutions, and has announced the following material contracts valued at over $4.9 million:
- 24 May – Orders received for new Aura Ai to protect high security government sites in North America ($300K).
- 1 June – Critical petroleum pipeline in India ($360K).
- 13 June – Multiple small critical telecommunication sites in SE Asia ($426K).
- 15 June – International Seaport located in the Middle East ($1.6M).
- 22 June – International Airport in the northern hemisphere ($427K)
- 22 June – Oil and Gas Facility in the Middle East ($310K).
- 25 July – Multiple site security upgrade for government facilities in the northern hemisphere ($900K).
- 10 August – Security site upgrade for LNG facilities in Northern Australia ($369K).
- 11 August – Asian border pilot for covert buried technology ($230K).
The realignment of FFT’s global sales team, with broader geographic coverage and improved sales management processes, is delivering a growing and well-qualified pipeline of sales opportunities.
Forward Looking Statements
Information in this release is for general information purposes only. Certain statements in this document regarding the Company’s financial position, business strategy and objectives, contain forward-looking statements (rather than being based on historical or current facts) and as such, are not able to be verified.
All forward-looking statements are based on the current views of the Company’s management as well as reasonable assumptions made by, and information currently available to the Company’s management. Forward-looking statements are inherently uncertain and must be read accordingly. There can be no assurance that some or all of the underlying assumptions will prove to be valid. If assumptions are invalid this is likely to have an impact on the accuracy of the statement itself.
All data presented in this document reflects the current views of the Company with respect to future events. Forward-looking statements are subject to a variety of risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. Forward looking statements are also subject to external matters outside the control of the Company.
To the maximum extent permitted by law, the Company, its officers, employees and agents do not assume any obligation to release any updates or revisions to the information (including any forward looking statements) in this presentation to reflect any change to expectations or assumptions; and disclaim all responsibility and liability for any loss arising from reliance on this presentation or its content.
Whilst these revenues are currently expected, until such time as binding orders are received by the Company and ordered goods and services are delivered they remain uncertain.
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FFT is a widely recognised, 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 (above and below ground);
- identify third-party interference on oil and gas pipelines; and
- protect sensitive data network communications cables.
With hundreds of installations in more than 60 countries, FFT has established a solid reputation as a leader in delivering highly intelligent, reliable, and award winning intrusion detection solutions. www.fftsecurity.com
For further information, contact: Katie Paynter +61 417 057 243