Speedcast International gives clarification on US Government contract

Company News

by Rachael Jones

Speedcast International (ASX:SDA) released a note to the ASX this morning addressing an article in the Australian Financial Review yesterday implying that they had been awarded a US Department of Homeland Security (DHS) contract with a value of $3 billion US.

Speedcast clarifies that while it is one of the awardees on the TacCom II contract vehicle, Speedcast is not the sole awardee and the award does not guarantee any particular level of revenue to Speedcast.

Shares in Speedcast International (ASX:SDA) closed 9.9 per cent higher at $1.89 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.