Software Radio Technology's products include tracking devices for use at sea and on rivers - an area being very strongly driven by new safety and security legislation worldwide. Devices for boats, ships, equipment, cargo items, and individuals. They are a world leader in this rapidly expanding field. See marine division website

Click the SRT ticker above for charts and latest news.



"AIS facilitates a multitude of marine applications, from coastal security to port management, and from search-and-rescue to tracking of competitors in a yacht race. AIS is of huge benefit for vessels, from the largest ocean going tankers to the smallest of leisure craft.

There are 27 million vessels worldwide, 1.6 million kilometres of coastline, and 360 million square kilometres of ocean, all of which need to be monitored and managed for safety and security. AIS offers a solution to this need and following the 2002 IMO SOLAS mandate has become a key element of many national policies. SRT Marine Technology provides a complete range of AIS technology solutions and products targeting all AIS applications." (from the company website)


and from a July 2010 edition of Investors Chronicle:

".......Legislation is now in place for AIS (automatic identification systems) to be fitted on inland waterways in the European Union for up to 25,000 vessels in Turkey and up to 300,000 vessels in India following the water-borne Mumbai terrorist attacks. The host of other mandates are in the pipeline, including China, South Korea, Japan and the US. In total, there are 26m boats and ships worldwide that could be fitted with AIS technology. SRT�s products, according to management, lead the market on both price and performance and are beginning to gain traction...."

lifted from a d v f n


-there was a presentation for investors made by chief exec Simon Tucker today by means of a web-cast. He gave details of how the business was going, together with answering investors questions.
-a replay of the web-cast can be seen here:

http://www.futurecast.tv/softwarerad/

-its about 35 minutes long

-for those who don't want to watch (+ I recommend you do), here are my notes from watching the presentation.


SRT presentation 28/01/11

Experiencing strong growth, putting in the infrastructure to support that growth.


Why are SRT market leaders , with a high % of the market? Have 33 people who are consistently able to develop world class AIS products, have the best performing technologies and the customer base that addresses al the different segments of the market. If you are serious about AIS, then you come to SRT.

Growth has kicked in strongly, building a long term company for sustainable growth
Recently recruited 7 extra people, in areas like Projects Manager (13 projects on the go, compared with two last year), Supply chain manager, Customer Support, Sales, Product development.

Have fully equipped lab/development facility so new products dont come with a big bill for capital investment. Products is manufactured for SRT in two places, have improved flexibility at reduced cost to SRT. (note: SRT dont manufacture themselves, this is sub-contracted)

What do we sell?

2007 started shipping Class B. This year, launching new Class B. Competition? Always knew there would be competition, this is a billion dollar global market. The new Class B is substantially smaller, costs less and has improved functionality and performance. Competition are only just getting up to the old Class B sort of level.

Class A started shipping last year, is substantially better than the competition.

Recently announced going to accelerate product development, that includes:

Identifier.-

prototype stage now, having commenced work in November. For fishing vessels in India, Indonesia etc they need to be tracked by the authorities. Vessles have no power, nowhere to fix antennae so units have to be self contained , lot of advanced technology gone into this. Expect to start shipping in Autumn, first demos April/May. Huge response to product, can add another big revenue steam to SRT.

MOB (man overboard)

Again, strong tech needed, as radio waves dont travel through water, units needs to be practical for a life jacket. SRT have the technology, expect to start shipping by the end of this calendar year.

SART (search and rescue transponder)

Radar sart is inefficient. New standard coming AIS SART. SRT will be producing a AIS SART by year end and will add yet another revenue stream. Dont forget, these are additional revenue streams, not a replacement for anything currently sold.

Product life cycle is 5-6 years, so get a good solid period of returns. Across the range, 50% average gross profit.

Mandates kick in over a period of years , eg Turkey, 18 months, China , 5 years, Korea, 3 years. EU waterways, 4 years, biggest vessels first.

China, have 2 partners, in discussions with more. Market is for 500,000, SRT want to get most of it. Opportunity in the next 12 months for 80,000, but difficult to be sure on time lines, but at some point it will come in.

Korea, 90,000 vessels, several partners in Korea.

Australia are rumoured to be mandating, Russia, Morocco, Algeria, Brazil are others in the frame to mandate.

There is also the replacement market from the original Solas 2002 agreement, 15,000 to 20,000 a year Class A, could be worth $20m-$25m to SRT.

Look forward to the next five years as mandates drive considerable sales for SRT.

Leisure market follows a clear pattern, snowball effect, as more boat users fit them. Sweden good example, where the leisure market has taken off. Expect the leisure market elsewhere (eg US) to really get going in 2012, which will suit SRT. SRT wil have a completely refreshed leisure product line and the right distribution channels . This will give a sustainable boost to the revenue line.

We are right at the beginning of the AIS growth market. Although the growth shown by SRT has been strong, we are not yet into the meat of it. We are going to see extraordinary growth in this market and are preparing for it.

US market, mandate pending for 29,000 vessels, has been any month now for a while. Difficult to say exactly when it will come, but US are spending hundreds of millions of $ers on the national AIS syatem.

Forecasts, not put out forecasts for this year, but we will for next year (note, Im 100% sure that this refers to SRTs financial year, the next one starts April 2011, ie a few months away). Reasons are, as explained, its difficult to forecast, eg exactly when the 80,000 from China will come in. SRT want to see a pattern emerging before put out forecasts.

What SRT are doing is giving as much info as they can about the company, the order book and the trajectory for you to make your own investment decision. The 90% growth in the first half of the year demonstrates the trajectory. We are very happy with the performance of the business and where we are.

Looking to get the average daily volume of 225,000 up by increasing awareness of SRT , using our broker and PR people.

Regarding valuation ,markets will determine that. Or, if we had a suitor, they may pay a premium for strategic reasons.
Loking at our peers, ARM trade on a multiple of 100x eps, Qualcomm 28 x eps..

The business should be able to generate good free cash flows and be able to return those to shareholders. The object is to pay good dividends to our shareholders, not there yet, but hope to do so in the not too distant future.

Finishing up, AIS is a huge global market, we are just at the start of its growth. We are adding new products giving new revenue streams. Starting in 2012, we will be seeing recurring revenues, laying the foundations for that this year.

sp moving up nicely after webcast potential for their products seems immense.

sp up 15% so far today, news coming?

RHPS upgrade last night!

RNS new AIS agreement signed with major marine electronics supplier, sp moving up.

:-))))
lol

http://www.thisismoney.co.uk/investing/share-tips-and-fund-tips/article.html?in_article_id=523877&in_page_id=23

Investment extra: Full steam ahead at SRT
By Ian Lyall
26 February 2011

Software Radio Technology has enjoyed a phenomenal run in the last year as the share price has surged more than 200%.




SRT Shares: They have plateaued of late after scaling the dizzy heights

WANT TO KNOW MORE?Newspaper and magazine share tips
The smaller company fund that made 296%
FTSE LATEST6001.2081.22

MIDAS EXTRA TIPS Get additional share tips from the Mail on Sunday mid-week: Find out more

Savvy small investors gave this stock a shove in the right direction, though institutional interest is growing.

SRT finds itself in demand because it has carved out a potentially very lucrative niche in maritime electronics, and has first-mover advantage.

The firm appears to be taking the lead as it has announced a string of ever larger orders for its automatic identification systems used in boats.

The shares have plateaued of late after scaling the dizzy heights, but analysts see the current price of 40p as a staging post for bigger and better things.

My intelligence suggests there are very few sellers at this level and plenty of interest from the big City funds eager to get involved.

What they have spotted is the market opportunity open to SRTRT. To comprehend that you must first understand the company's products.

As I said earlier, SRT makes automatic identification systems. The AIS acts as an electronic name tag, which also shows the vessel's location.

Although it has competition in the form of Weatherdock of Germany and Taiwanese firm All-Teck Marine, they are about two years behind SRT.

Currently all vessels over 300 tonnes are forced (the official term is mandated) by international maritime laws to carry these automatic identification systems.

However, India, China, the US and the EU will soon require most boats, irrespective of their size, to carry these devices.

What is driving the market is a realisation that maritime traffic needs to be tracked and monitored both for safety and security.



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In all there are 26m vessels worldwide. The latest batch of mandates barely scratches the surface, but they create a market of one million boats. Of course, this will grow as other nations follow suit.

AIS is just one product but there could be multiple opportunities once the system becomes commonplace on vessels.

SRT is already looking into producing a man-overboard location device.

In November the company came to the market and raised 2.5m at 40p a share, which fulfils SRTRT's immediate capital requirements.

The institutional placing brought in blue-chip backers, and allowed a number of existing investors, including chairman Simon Rogers, to sell a chunk of their stock.

SRT boss Simon Tucker is realistic and believes there will be interest once the larger players wake up to the opportunities presented by the AIS market. 'At some point we will come up on the radar and someone will make a decision,' he adds.

The company is expected to give a trading update towards the end of next month, followed by full-year results in May.

City broker Daniel Stewart predicts sales will be 8.1m this year, rising to 11.6m in 2012, which gives pretax profits of 1.9m and 3.4m respectively.

It means SRT is valued at a comparatively modest 12 times 2012 earnings.

Our verdict: Not one for widows and orphans. However if the order flow continues to build the shares should float higher on a rising tide of good news.

I'm tempted to set a generous 30p stop loss just in case the shares drift a little.

Hmm, looks like it's floating towards good news today possibly - sp up nicely this morning

RNS states that they have agreed to sell equipment directly to the RNLI.

RNS excellent final results.

Looks like a tech that has to go on up . . . . yet why is Dir Selling?

Bad vibes IMHO....and if there is real money in nautical kit, the big boys will move in, the Rules will change by EU Directive (or US)...and SRT is back to being on the wrong foot.

Do they have a Big Partner?, that could be the clincher - and Dirs that Buy.

So even at 27p, Bargepoles for me, for the time being.

MIDAS SHARE TIPS: From beating pirates to directing ships, investors should buy SRT as demand looks set to soar By Joanne Hart
PUBLISHED: 22:23, 22 September 2012 | UPDATED: 10:36, 23 September 201

All aboard: Demand is set to soar for SRT's systems which help stop ships colliding in crowded waters
Shares in Software Radio Technology have halved in value in the past year – hardly an auspicious performance. However, the current price of 20.5p substantially undervalues the company and the stock should take off over the coming months.

A small business based in Midsomer Norton, Somerset, SRT has pioneered a way to stop ships colliding with each other, reduce piracy, curb illegal immigration and ensure fishing fleets are behaving themselves.

The technology, a little like air traffic control for boats, has been taken up around the world and users include the European fishing fleet, the Indian government and the US coastguard.

SRT’s equipment does not show simply that something is bobbing on the water – it can reveal the ship’s name, its size, where it is going and what or who it is carrying.

The technology was developed in the late Nineties to stop collisions between ships, as hundreds were taking place, particularly on crowded waterways. In 2002, the International Maritime Organisation tried to counter this by stating that all ships of 300 tons or more should use automated identification systems – gadgets that use SRT’s technology.

The devices have small screens on them showing which ships are nearby and their direction. Coastal authorities have a version too, providing an overview of what is out at sea.

Originally, automated identification systems, which are usually quoted in dollars, cost about $15,000 (£9,200) each, so only the largest ships could afford them. Over the past five years however, SRT has worked hard to reduce costs and has broadened its range from two products to 12.


Prices now vary from around $2,000 to as little as $60, depending on the sophistication and complexity of the product. The cheaper systems simply reveal a boat’s name and location. Expensive ones reveal much more and can also be used to send and receive texts and plot routes.

SRT is behind about 80 per cent of automated identification systems in the world. The group develops its technology in Somerset and then sells either complete units or the internal components.

For potential investors, two questions stand out: why is SRT still so small and why have its shares performed so badly? The principal answer is timing. SRT has spent years perfecting its technology and its ability to do the job is undisputed. The EU inland waterways authorities have said that each of about 16,000 commercial barges using European canals needs to have an identification system on board by 2013 and the fisheries department has said all fishing boats over 16 metres long need to fit a system by 2014.

Even the Russians have said that all commercial vessels need to fit one over the next couple of years and SRT chief executive Simon Tucker is continually in talks with governments and coastal authorities around the world.

Until recently, however, regulators and boat owners were dragging their heels, so discussions were taking place but concrete orders – and profits – were slow to materialise.

Tangible progress was made this summer when the US submitted a $3.7 million order to fit the systems to boats in the Gulf of Mexico. They will be used to reduce illegal immigration, as boats that do not carry them will be pursued by border authorities. Initially, only the largest boats will be fitted, but orders are expected to rise.

In the year to March 2012, SRT delivered turnover of £6.2 million and profits of £300,000. In the current year, turnover of £10 million is expected and profits are forecast to surge to £2.1 million. Prospects are even better for 2014 and 2015, as the number of vessels expected to carry identification systems increases.

Purchased friday, going to keep hold. Should go up with the news.Good rise today.

Taken some profit

Identifier Order Update


http://www.moneyam.com/action/news/showArticle?id=4453969

Daily mail - so far the firms proprietary ship communication systems have struggled to sell , but new regulations should help boost annual sales to £10m from £6.2m . It a share for the brave.

Interview with Simon Tucker, Chief Executive Officer of Software Radio Technology

Click the link to listen;

http://www.brrmedia.co.uk/event/104638/simon-tucker-chief-executive-officer

Sold my full holding, to get profits in the bank. To much sitting on the table

Jam tomorrow but when will tomorrow come?
New comment from Investors Champion
http://www.investorschampion.com/blog/entry/software-radio-technology-aimsrt-interim-results-disappoint-and-it-remains-

SRT looks better value than ever at 21p. Hopefully we get a trading update for this current year ended 31 st march and then next year looking extremely strong with £10m+ core business boosted by repeat oreders from Mexico and Russia and re the new Aton and Sart offerings.

Also looks like the USA mandate could start in April. India also set to come on stream after testing the new Identifier product.

Shares looking really cheap imo.

Starting to make progress at last. Good news starting to flow. Could this be SRT's year after all? We have out first higher high on the chart, so perhaps the long term downtrend has finally ended.