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Can New Orders and Business Growth Help Vislink Buck the Trend?

05 Mar Can New Orders and Business Growth Help Vislink Buck the Trend?

Vislink Technologies, Inc. (NASDAQ: VISL), a global technology leader in wireless communications solutions, announced the receipt of an order in excess of $4 million from the U.S Department of Defense. The order is for the Company’s mission-critical, ultra-low latency equipment in the form of handheld intelligence, surveillance and reconnaissance (ISR) receiver devices and accessories. This is the second order received from the U.S Armed forces for the lightweight receivers that display high-resolution, real-time video imagery transmitted by aerial platforms.

Mickey Miller, CEO of Vislink, commented,

“Vislink’s enduring relationship with the military is a testament to our high-quality wireless video communication solutions and the continued crucial need for real-time and secure video data delivery of actionable intelligence. We are honored to continue to be chosen by the United States’ military forces to serve as a go-to source for best-in-class video performance technology.”

The Company offers a wide range of technological solutions including quality video that improves situational awareness, tactical and operational efficiency through cutting-edge equipment such as wireless cameras, satellite communications, airborne systems, microwave point-to-point, central receive sites and portable systems.

In February 2020, the Company had received an order worth over $400,000 from Airbus Defense and Space Limited for ground terminals and the supply of Vislink MSAT, MANTIS and New Swift satellite communication solutions as part of a Master Purchase Agreement, with potential for additional orders.

Vislink Technologies (NASDAQ: VISL)

Market Cap: $133.27M; Current Share Price: 2.92 USDChart
Data by YCharts

Industry
The Global Military Communications market is expected to reach USD 62.96 billion, growing at a CAGR of 6.18 percent, from USD 39.86 billion in 2018 according to a report by Fortune Business Insights. Communication equipment plays a vital role in military operations and is used for relaying or decoding critical and confidential information. The systems consist of software as well as hardware components such as transmitters, antenna, receivers that can convey information in the form of images, speech or signals.

Accurate and timely information is of utmost importance in military operations as real-time data helps in making critical decisions, solve issues and complete missions, intelligence and surveillance (ISR). The equipment can also be used to provide tactical support and increase situational awareness. Technological advancements have revolutionized modern communication equipment, leading to development of new generation land, naval and aerial systems. The application of advanced communication systems includes ground surveillance, mission critical control and surveillance support. The need to defend against advanced systems and availability of next-generation software and manufacturing capabilities is the driving force behind the growth in the global military communications markets.

Increasing conflicts and global unrest, rising defense budgets, use of innovation are the primary drivers of growth in the market. The advancements in wireless communication technology such as the adoption of Ka-band that offers higher bandwidth, faster speeds and long-range transmission and increasing investments by Defense organizations to acquire state-of-the-art technology are some of the other contributing factors. However, the prohibitive infrastructure costs may hamper the growth in the market.

Image Source: Company

Company
A global leader in advanced communication systems, the Company provides products and solutions that address reliable connectivity issues in live production, military and satellite communications. Vislink is present in 5 countries and has over 137 distribution partners across the Americas, Europe and Asia.

As part of its Military solutions the Company provides secure, high-quality video data that provides actionable intelligence even in the most challenging environments. Vislink’s rugged video transmission solutions that encompass wireless cameras, satellite communications, airborne systems and portable systems find application in diverse areas such as Defense, border security, public safety, counter terrorism and key point security to name a few. The Company offers customizable solutions to cater to specific requirements, which are capable of working even in case of extremely poor signal reflections, through use of RF technology that offers reception reliability in line-of-site and non-line-of-site cases. Vislink’s product offerings include HDX-1100, ULRX-LD, MDR, IMTDragonFLy, HHT3 and Mantis LT among others.

The Company also provides leading edge digital microwave and video technology that enables high quality, low latency video solutions such as wireless cameras, airborne systems, microwave point-to-point, UAV/Drone to broadcast major events worldwide. Vislink’s high-quality RF camera solutions facilitate the use of touchline and body-worn camera systems that can provide mobile shots and deliver risk-free entertainment. The technology can be applied to News, Live Sports, Live Entertainment, Education and Aerial Filming.

Image Source: Company

Vislink’s award winning satellite solutions namely bandwidth efficient DVB-S2X modulation, HEVC video compression technology and robust antenna design offer high-quality, reliable transmission that can be used in live news production, live entertainment, defense, public safety, border security and military surveillance.

Key Takeaways

  • Vislink recently expanded its footprint in the Middle East through a contract with Asharq News, to supply six manual Mantis MSAT satellite antennas, which will be used to connect regional news centers with economic centers in Riyad, Cairo, Abu Dhabi and key Arab capitals. The news channel is Middle East’s first economic- and financial-focused news channel and the Company believes that it is of strategic importance as it helps expand its reach into low latency financial news markets.
  • The COVID-19 pandemic has affected some aspects of its business such as lowered demand from the Live production market and reduced spending by the military and government department, with orders for new or upgraded equipment being postponed or delayed. There were disruptions to its supply chain as well, leading to delayed production, which it believes will be resolved in due course. In spite of the challenges, the Company has managed to achieve nearly $5 million in savings and improved its operational efficiency by adopting a cost-focus approach.
  • The Company introduced two significant product lines namely DVE/IRD satcom encoder/decoder, and the IP Link 3.0 digital microwave system and is gearing up for the release of the new Quantum Receiver in the first half of 2021. The cancelling of live sporting and entertainment events has had a major impact on the Company, but as vaccination drives bring back some semblance of normalcy and with the slow return of events, Vislink is hopeful of being able to leverage its experience and expertise in covering major upcoming events such as the Olympic Games and World Cup.
  • Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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    References

    https://www.globenewswire.com/news-release/2021/03/02/2185205/0/en/Vislink-Awarded-4-Million-U-S-Department-of-Defense-Order-for-Handheld-Intelligence-Surveillance-and-Reconnaissance-ISR-Receiver-Devices-and-Accessories.html

    https://www.globenewswire.com/news-release/2020/02/10/1982556/0/en/Vislink-Technologies-Receives-400-000-in-Orders-for-Satellite-Communications-Equipment-from-Airbus-Signs-Master-Purchase-Agreement.html

    https://www.fortunebusinessinsights.com/military-communications-market-102696

    https://www.vislink.com/

    https://www.vislink.com/2021/02/09/vislink-inks-deal-with-asharq-news-in-key-arab-capitals-expands-footprint-in-middle-east/

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