Brief: Orbital Corporation Announces Clarification Of Boeing Insitu Cost Reimbursement Dispute

Orbital

01/07/2022 02:32

July 1 (Reuters) - Orbital Corporation Ltd  OEC.AX :
    * OPERATIONAL UPDATE-OEC.AX
    * CLARIFICATION OF BOEING INSITU COST REIMBURSEMENT DISPUTE
    * ON JUNE 24, GOT FORMAL ADVICE THAT BOEING INSITU WOULD
CONTEST
ORBITAL UAV'S REIMBURSEMENT CLAIM OF A$1.8 MILLION TO BOEING
INSITU
    * ORBITAL UAV MAINTAINS VALIDITY OF A$1.8 MILLION
REIMBURSEMENT
CLAIM
    * CONTINUES TO OPERATE FIRST & SECOND ENGINE MODEL
PRODUCTION
LINES FOR BOEING INSITU FROM ITS BALCATTA FACILITY IN AUSTRALIA
    * ORBITAL UAV'S FY REVENUE AND OTHER INCOME FOR 2022
IMPACTED BY
FACTORS RELATED TO BOEING INSITU PRODUCTION AND DEVELOPMENT
PROGRAMS
    * ORBITAL UAV'S UNAUDITED REVENUE AND OTHER INCOME FOR FY22
IS NOW
EXPECTED TO BE APPROXIMATELY A$19 MILLION
    * ORBITAL UAV'S FY22 NET LOSS EXPECTED TO BE OF A$7 MILLION
    * ORBITAL UAV ESTABLISHED AN UNSECURED STANDBY WORKING
CAPITAL
FACILITY OF UP TO A$1 MILLION

Source text for Eikon:  ID:nASX772m7T 
Further company coverage:  OEC.AX 

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