PTV Peertv

TIDMPTV

RNS Number : 5845U

PeerTV PLC

30 July 2015

30 July 2015

PeerTV PLC

("PeerTV" or the "Company")

Market Update

PeerTV plc (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market, and PCB (printed circuit board) production solutions wishes to update the market regarding both business units.

As previously announced, PeerTV has received initial orders from two new customers, both European based OTT operators and these are progressing according to schedule.

Digitek has received an order for Full Turnkey Production from an Israeli developer and producer of advanced fleet management systems for a total consideration of NIS730,000 (US$192,000). The order is scheduled for delivery by the end of October 2015. It was received after several months' discussions and is a direct result of Digitek's deployment of the new assembly line. Two additional orders of a similar amount are expected from the customer once the current order has been delivered.

In general, Digitek is experiencing an increase in customer interest:

   a)    The current level of confirmed sales orders is up 83% compared to the same time in 2014. 

b) Repeat orders from existing customers and expected orders total NIS 2.3 million, compared to NIS 1.2 million at the same time in 2014, an increase of 92%

c) Although sales for the first six months of 2015 were similar to the same period in 2014, sales in July 2015 are expected to exceed July 2014 by 22%.

   d)    Trade receivables are NIS 1.6 million, compared to NIS 1.29 million. 

Avi Vermus, the CEO of Digitek and the Group says "we are starting to see the results of Digitek's investment in the new assembly line. Customers understand that we are fully committed to the business with the ability to provide a high level of service and several advanced capabilities which give us important competitive advantages. Importantly, we are building relationships with new potential customers which can be the source of consistent, high volume orders for both assembly and full turnkey projects."

Further enquiries:

PeerTV Plc

Eitan Yanuv, Chairman

Tel: +972 974 07315

ZAI Corporate Finance Limited

Tim Cofman / Jamie Spotswood

Tel: +44 20 7060 2220

Daniel Stewart & Company plc

David Coffman

Tel: +44 207 7766550

This information is provided by RNS

The company news service from the London Stock Exchange

END

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