XTEKs HighCom Ships A$2.7m US Govt Order

Key highlights:

• A$2.7m order received from a US Federal Government Agency on 16 August 2022
• Thousands of items of specialist body armour and ballistic helmet equipment
• Order now completed and revenue recognised in September 2022

Tuesday, 13 September 2022: XTEK Limited (ASX: XTE, ‘XTEK’, ‘Group’) is pleased to announce that the Group’s HighCom Armor Solutions Inc. (HighCom) business, has shipped the A$2.7m (US$1.85) order received on 16 August 2022 from a US Federal Government agency customer for specialist body armour and ballistic helmets.

Since the start of the new Financial Year on 1 July 2022, and with this order now completed, the Group’s HighCom business has already shipped and recognised revenues of $25.2m (US$17.25m). The Group also fully expects to recognise a further $9.6m (US$6.6m) before the end of September 2022, as the final 20% tranche of our previously announced US$33.21m “transformational” international order is completed.

Scott Basham, XTEK Group CEO, said,

“HighCom Armor is a trusted provider of high performance,life-saving, ballistic personal protection equipment to Federal, State, and Local law enforcement agencies and military customers across the United States and around the world.

In completing this order ahead of time, our HighCom Armor production team in our Columbus OH facility have once again displayed their manufacturing prowess and operational excellence, by rapidly building and quickly shipping this important order valued at A$2.7m for a major US Government Federal Agency. It is exactly this level of outstanding performance that gives our domestic US and international customers such confidence in our HighCom brand.”