Australia's Etherstack rises most in five weeks on Australian Defence contract

Etherstack

07/09/2022 03:39

** Shares of wireless tech company Etherstack Plc  ESK.AX 
gains as much as 7.9% to A$0.41, their best session since Aug. 2
    ** Says https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02565112-2A1397038?access_token=83ff96335c2d45a094df02a206a39ff4
 entered second technology licencing agreement with Commonwealth
of Australia 
    ** Agreement to supply Etherstack technology, services, and
third-party equipment to the Australian Department of Defence
    ** Co sees revenue of A$1.7 mln ($1.14 mln) from the new
contract, to be recognised over FY22, FY23
    ** Stock down ~17.4% this year as of last close


($1 = 1.4885 Australian dollars)

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))