ALD: Order from Lockheed Martin – Capital Market

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ILD
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(Advanced Logistics Developments) is up about 5% after it reported receiving an order from US giant Lockheed Martin for Critical Aviation Security Security Commander software, for $ 70,000 to be recognized in 2020 revenue.

The system will be provided by IDD Software, a subsidiary of IDD. The company says that this order is being made as part of the expansion of existing activities with Lockheed Martin to other areas, including advanced cyber systems for the protection of sensitive security and commercial information.

“This is a ‘foot in the door’ for us for potential projects of significant magnitude in the areas of cyber and credibility management for critical systems,” he said. Dotan Moshe, Deputy CEO of IDD In relation to an order from Lockheed Martin. “We are working aggressively to expand the company’s global operations and offer our solutions to huge entities around the world and this is a significant example that we believe will open up more opportunities in the future soon.”

IDD offers engineering consulting services in the areas of management and establishment of quality and reliability systems, reliability and safety analyzes, improvement works of processes and products, analysis and risk management, writing procedures and analytical reports as well as certification of organizations and companies according to accepted standards. And various certifications for the civilian market in the areas of quality, safety and reliability, as well as training for the IDF in the areas of command, management, organizational behavior, preparation for military service and enrichment lectures in other areas.

Last June, the company won a large tender from an Israeli government company for NIS 5-10 million per year, for 3 years. An option to expand the service for another two years brings the maximum tender volume to NIS 50 million. The project is expected to have a material impact on the company’s financial results in the coming years.

The IDD share is traded at a market value of about NIS 60 million, after rising by about 60% since the beginning of the year. The company’s revenues grew from NIS 97 million in 2017 to NIS 125 million in 2019, with the bottom line being a cumulative net profit of NIS 1.4 million in these three years. The upcoming annual report, which will include fourth-quarter results, as well as the aforementioned order from Lockheed, is expected to show better results than the 2019 losses.