Etherstack secures US$0.83M North American order

• Etherstack has secured a follow-on equipment order worth US$0.83 million from Codan subsidiary Daniels Electronics.
• The company's share price rose 1.96% to $0.52 following the market announcement.
• Management expects to recognise the full revenue from the contract within the current financial year.

Etherstack (ASX:ESK) has secured a North American equipment order valued at US$0.83 million for digital radio communications technology.

The follow-on contract builds on a previous US$2.3 million deal.

The company stated that hardware will be made in Australia with revenue fully recognised by Dec. 31.

Following the announcement, the Etherstack share price was up at $0.52.

Management expects first-half revenue ending June 30 to meet or exceed previously issued financial guidance.

The business develops and licences mission-critical radio technologies for wireless equipment manufacturers and global network operators.

The equipment installations typically provide further opportunities to generate recurring, long-term support revenues from clients.