Software Radio Technology wins order

LONDON, UK: Software Radio Technology said on Friday it had received an order for its recently launched automatic identification system (AIS) Class A transceiver worth $500,000, sending its shares up by 15 percent.

"This order demonstrates the continuing success of our customers with our products in the growing global AIS market," said SRT's CEO Simon Tucker.

Last month the group, which specialises in marine identification and tracking and digital professional mobile radio, reported a 41 percent increase in revenues and an 81 percent reduction in full-year losses.

One reason for the company's growth is the demand for detection equipment following the calamitous oil spill in the Gulf of Mexico.

"AIS is being used in the gulf to control fishing and also monitor the oil clean up operations. This is certainly creating demand," Tucker told Reuters.

"But it's small beer compared to mandates in the EU which will affect around 65,000 vessels, or India for 300,000 or Korea for 97,000; the list goes on."

Shares in SRI were up 15 percent to 20.5 pence at 0847GMT, valuing the business at just over 20 million pounds.