LAS VEGAS, April 9, 2018 /CNW/ - Novra Technologies Inc. ("Novra") (TSX-V: NVI) announced today that it has received—through one of its Novra Group companies—two new orders totaling more than $3.2M CAN from a major international radio broadcaster. The orders are for an ongoing network upgrade as well as a technology refresh of satellite uplink infrastructure. Both orders are scheduled for delivery in Q3 and Q4 of 2018.
With these orders, the first quarter 2018 consolidated sales and bookings results for the Novra Group of companies—Novra Technologies, International Datacasting (IDC), and Wegener Corporation—total approximately $6M CAN, of which $4.1M CAN is backlog expected to be delivered in 2018.
Harris Liontas, Novra President and CEO commented, "Strong bookings and sales results for our first quarter demonstrate a vote of confidence by our customers in the strength and stability as well as innovative products and solutions the Novra Group offers. The combination of these three respected companies with complementary expertise and products is progressing well and we're thrilled that industry leaders continue to select us as a technology partner and trusted supplier."
The announcement was made at the National Association of Broadcasters (NAB) 2018 convention and trade show where Novra Group team members will be staffing booth SU2721, showcasing new products and solutions at the world's largest gathering for broadcast and media technologies.
About Novra Technologies Inc.: Novra (TSX-V: NVI) is an international technology provider of products, systems and services for the distribution of multimedia broadband content. The Novra Group of companies includes Novra, International Datacasting Corporation, and Wegener Corporation. The companies in the group are known for a strong focus on applications including: broadcast video and radio, digital cinema, digital signage, and highly reliable data communications. For more information visit: www.novragroup.com
Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements are generally identifiable by words such as "expected", "anticipates", "believes", "scheduled", "estimates", "predicts", "outlook", "plans" "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These statements are not historical facts but instead represent Novra's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Novra's control. It is possible that actual results will differ, possibly materially, from the anticipated results contemplated by these statements. Factors that could cause actual results to differ, possibly materially, from those forward-looking statements are disclosed in our periodic MD&A filings on SEDAR at www.sedar.com. For the above reasons, readers are cautioned not to place undue reliance on forward-looking statements.
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SOURCE Novra Technologies Inc.
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