The contract is worth $1.1 million.
Aviation simulation and training systems developer BVR Systems Ltd. (OTCBB: BVRSF.OB), announced yesterday that it won a contract worth $1.1 million to provide its embedded virtual avionics (EVA) solution to a unnamed customer in Europe. Most of the revenue from the latest contract will be recognized in the company’s financial results for 2006.
BVR CEO Ilan Gillies said, “This award is an additional important milestone in achieving a leading position in the airborne embedded training market. In the past year BVR was awarded several airborne and naval embedded training programs as part of BVR's strategy to focus and lead this market segment.”
BVR has a market cap of $23 million. It recently won the Frost & Sullivan award for entrepreneurial company of the year in the market of military training and simulation, an award that reflected Frost & Sullivan’s recognition of the potential of BVR's EVA solution.
Published by Globes [online], Israel business news - www.globes.co.il - on December 27, 2006
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