Concurrent Technologies (GB:CNC) has released an update.
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Concurrent Technologies Plc has announced a significant contract win with a US defense prime contractor, securing an initial $255k for low-rate initial production units with the anticipation of full-rate production orders that could total around $5m. Additionally, a separate $133k contract for system-related electronics could lead to an estimated $1.7m in lifetime value. CEO Miles Adcock expresses confidence in the growth and future revenue potential of their Systems business unit, especially following strategic hires in Los Angeles.
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