Seeing Machines Limited Trading Update & Fleet, Rail and Off-Road Update (2507E)
08 February 2018 - 6:00PM
UK Regulatory
TIDMSEE
RNS Number : 2507E
Seeing Machines Limited
08 February 2018
Seeing Machines Limited
Trading Update
Publication of Fleet, Rail and Off-Road Update
8 February 2018
Seeing Machines Limited (AIM: SEE) ("Seeing Machines" or the
"Company"), an industry leader in computer vision technologies
which enable machines to see, understand and assist people, is
today publishing a Fleet, Rail and Off-Road Update for the period
ending 31 December 2017. For access to the latest Fleet, Rail and
Off-Road Update, please click here or visit
www.seeingmachines.com/announcements.
Seeing Machines' Group trading for the current financial year
remains in line with expectations. Fleet total contract value
("TCV") signed with customers, but not yet delivered nor recognised
as revenue, has increased from A$21.5 million at 30 June 2017 to
A$36.4 million at 31 December 2017. Financial results for the six
months to 31 December 2017 will be released on Tuesday 13 March
2018 in London. The Company expects to report Group revenue for the
six months to 31 December 2017 in excess of A$14 million
(unaudited).
The Company successfully raised GBP35m through a placing with
institutional investors announced in December 2017 and a further
GBP2.4 million through an offer to existing shareholders. These
proceeds will enable further investment in the ongoing development
of the FOVIO driver monitoring platform technology and continued
product improvement across all industry verticals to scale the
Company's global footprint and meet increased customer demand.
Enquiries:
Seeing Machines Limited www.seeingmachines.com
/ +61 2 6103 4700
Ken Kroeger, Executive Chairman Ken.Kroeger@seeingmachines.com
& Interim CEO Sophie.Nicoll@seeingmachines.com
Media inquiries
finnCap Ltd (Nominated Adviser
and Joint Broker) +44 20 7220 0500
Ed Frisby / Emily Watts,
Corporate Finance
Tim Redfern / Richard Chambers,
Corporate Broking
Canaccord Genuity Limited
(Joint Broker) +44 20 7523 8000
Simon Bridges
Richard Andrews
Alexander Napier
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
About Seeing Machines
Seeing Machines (LSE: SEE) is an industry leader in computer
vision technologies which enable machines to see, understand and
assist people. The Company deploys its FOVIO machine learning
vision platform to deliver real-time understanding of drivers
through AI analysis of heads, faces and eyes for Driver Monitoring
Systems (DMS), which monitor driver attention state including
drowsiness and distraction. DMS is increasingly considered a core
automotive safety technology as well as an enabling technology for
ADAS/Autonomous Driving. The Company's pioneering commercial fleet
solution (Guardian) delivers an after-market, in-cabin safety
intervention system with 24/7 monitoring and cloud analytics
services delivered on a telematics SaaS basis. The Company also
serves Aviation, Rail and Off-Road markets, and they are seeking to
innovate in new markets. Based in Canberra, Australia with the
intention to grow in the USA and Europe, the Company delivers
multi-platform solutions from embedded software and processors to
aftermarket system and service solutions to industry leaders
globally. www.seeingmachines.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTFMGGZZNNGRZZ
(END) Dow Jones Newswires
February 08, 2018 02:00 ET (07:00 GMT)
Seeing Machines (LSE:SEE)
Historical Stock Chart
From Apr 2024 to May 2024
Seeing Machines (LSE:SEE)
Historical Stock Chart
From May 2023 to May 2024