CAMBRIDGE, ON, May 10, 2012 /CNW/ - exactEarth Ltd., the leading provider of satellite AIS data services, today revealed strong growth for Fiscal Year 2012 as a result of significant new orders for exactAIS®, its global vessel tracking and monitoring system. Orders received to date total $9.4 million in new business for exactEarth which surpass the order levels achieved in the full fiscal year ended October 31, 2011.
The new orders were placed by both major governments and commercial customers as exactEarth continues to see growing interest across various sectors of the marketplace. Importantly the vast majority of the orders are subscription-based, laying a foundation for future growth based on strong repeat business.
Peter Mabson, President of exactEarth, commented: "I am delighted to announce that with recent customer wins we have now surpassed the orders booked in the last fiscal year even though we are just past the half-way point this year. Several government agencies have had access to our exactAIS data for over a year now and their commitment to renewing their subscriptions and continuing to see benefit from our service is a strong testament to the value we provide. We are confident our latest customers will have a similar experience which will add weight to a growing acceptance of the benefits our data service brings across the Maritime Industry. Such evidence will help fuel further growth as we now look to further extend our capabilities and market reach."
About exactEarth Ltd.
Based in Cambridge, ON, exactEarth Ltd. is a data services company that leverages advanced microsatellite technology to deliver monitoring solutions characterized by high performance, reliability, security, and simplicity. exactEarth's service, exactAIS®, is a global vessel tracking and monitoring system based on world leading satellite-based advanced AIS detection technology. exactEarth is jointly owned by COM DEV International Ltd (TSX: CDV) and HISDESAT Servicios Estratégicos S.A. For more information, visit our website at www.exactearth.com.