OSI Geospatial Signs US$1.3 M ECPINS Upgrade Contract for RAN(Ottawa, Canada, March 3, 2009) -- OSI Geospatial Inc. (TSX:OSI) announced today that its International Systems Operations has signed a contract with the Australian Navy valued at approximately US$1.3 million. Under the terms of the contract, the company will provide a software upgrade and 12 months of software support.
"We are pleased that the Australian Navy has decided to upgrade to our most advanced ECPINS software and take the first step towards establishing a long term support arrangement," said Ken Kirkpatrick, president and CEO. "Several of our customers have moved forward on establishing long-term support contracts and we believe the Australian Navy will expand the duration of their agreement in the near future. These support contracts provide the company a reoccurring revenue stream with which we can improve our products and better serve our customers."
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Source : OSI Geospatial Inc.