Future Fibre Technologies Limited (ASX: FFT), a global leader in fibre optic intrusion detection systems, today released its Appendix 4C for the quarter ended 31 December 2017.
FFT’s positive net operating cash flows of $2.4m for the quarter included R&D grant income of $1.2m and improved customer receipts from FFT business operations, which were up 28% on the prior quarter. It also included one month of contribution from MaxSec Group Limited (“MaxSec”) of $0.8m in customer receipts and an overall negative operating cash flow of $0.15m.
The Company finished the quarter with $9.5m cash at bank, which included $1.65m of cash from the consolidation of newly acquired MaxSec in which FFT holds an 86.8% controlling stake.
Gross forecast cash outflows of around $7.5m are expected for next quarter. This excludes cash inflows from customer payments.
FFT Chief Executive Rob Broomfield said: “FFT experienced a productive quarter with new perimeter security contracts received and the MaxSec takeover successfully closed. The Company also reaffirmed its sales revenue guidance for FY2018 and remains focussed on converting FFT’s strong sales pipeline into revenue. We are also excited to now begin integrating and leveraging the individual strengths of FFT, BQT and AVA Global to build a global security industry network with the experience, expertise and infrastructure to jointly promote and deliver our respective products and services.”
About FFT
FFT is a leading developer and manufacturer of fibre optic perimeter intrusion detection security systems. Deployed by some of the most security conscious industrial, military and government organisations in the world, FFT’s advanced security systems:
With over 1,500 systems installed in more than 65 countries, FFT has established a solid reputation for delivering highly intelligent, reliable, and award winning intrusion detection solutions. www.fftsecurity.com
View Appendix 4C