Share Search
Visit the Share Search
Getech adds million dollar order to second half sales book
16th Oct 2019 11:33
(Sharecast News) - Geoscience and geospatial products and services supplier Getech Group announced the completion of a licence agreement for an integrated suite of geology, gravity and magnetic data and knowledge products on Wednesday.
The AIM-traded company said the agreement would generate revenue of $1m, all of which would be recognised in the financial year ending 31 December.
It said the delivery of the contract was in line with its financial expectations for the current financial year.
"Having delivered significant first half growth in both our order book and our foundation of recurring revenue, our second half sales and marketing campaigns are positioned to build on this momentum by aligning our high-value data products with our customers' operational priorities," said chief executive officer Jonathan Copus.
"Today's announcement is therefore a positive and material step along this path."
The AIM-traded company said the agreement would generate revenue of $1m, all of which would be recognised in the financial year ending 31 December.
It said the delivery of the contract was in line with its financial expectations for the current financial year.
"Having delivered significant first half growth in both our order book and our foundation of recurring revenue, our second half sales and marketing campaigns are positioned to build on this momentum by aligning our high-value data products with our customers' operational priorities," said chief executive officer Jonathan Copus.
"Today's announcement is therefore a positive and material step along this path."