Australia's Etherstack surges on launch of software tools for NATO nations

Etherstack

20/05/2022 03:31

** Shares of the UK-based software developer  ESK.AX  as much as
9.6% to A$0.455, their highest since May 2 
    ** Co launches its narrowband waveform software
implementation tools for use by North Atlantic Treaty
Organization (NATO) member nations and their defense radio
manufacturers  urn:newsml:reuters.com:*:nASX1QtXYw
    ** Says if future contracts are realized for the product, it
is likely to produce material revenues over 10-15 years of a
deployment 
    ** Adds the waveform suite will improve the communications
capability of NATO nations and reduce costs for industry to
supply systems to defense
    ** Shares on track for their biggest intraday pct gain since
May 13 
    ** More than 77,100 shares change hands as compared with the
30-day average volume of ~42,961 shares  
    ** Stock down 9.8% this year as of last close, vs a 4.2%
drop in the benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))