News: New contract for EOS remote weapon system | ADM July 2012

Electro Optic Systems has announced a new contract valued at $25 million for the manufacture and delivery of remote weapon systems over the next 30 months for an existing customer.

“This order is for our most advanced model of remote weapon system and brings to over 300 units the total number of orders for this model,” chief executive of EOS Defence Systems business, Mark Bornholt, said.

“It will be filled in EOS’ production facilities in Australia and the US. This order will see production of that configuration continue with regular monthly shipments to late in 2014.”

EOS CEO, Dr Ben Greene, said that the contract award was particularly satisfying as it is from an existing customer.

The order raises EOS’ backlog of confirmed, unfilled orders for all products and services to around $45 million deliverable over the next 2.5 years. T his backlog is around 1.5 years of revenue at current performance levels, and is strong in terms of past sales performance.