XTEK announced that the group’s HighCom Armor Solutions Inc. business, has received an order valued at A$2.7 million from an US federal government agency customer for specialist body armour and ballistic helmets. The order is expected to be quickly fulfilled and shipped to the customer before the end of Q1 FY23.
Scott Basham, XTEK Group CEO, said, “HighCom Armor is a trusted provider of high performance, life-saving, ballistic personal protection equipment to federal, state, and local law enforcement agencies across the United States and around the world. This order, valued at A$2.7 million, and comprising many thousands of individual items, will be built, shipped, and delivered from our Columbus OH facility, to this important US government federal agency in the coming weeks, and will be completed in full before the end of September, with revenues recognised in Q1 FY23.
“This multi-million dollar order continues the cracking start to the new financial year for the group, with us having already recognised US$11 million (~A$15.6 million) so far in Q1. And of course, we still have two final shipments to complete the transformational order we received back on 27 May 22, that are worth a further US$11 million (~$A15.6 million) scheduled to occur through August and September. It’s exciting to say, but FY23 is already shaping up to be even more promising than what FY22 was for the group.”
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