Escher Group, the provider of point of sale software to the postal industry, has revealed that the contract win announced on February 8th was with the United States Postal Service (USPS).
USPS awarded Escher Group the contract to provide Riposte licensing, maintenance and services as part of their Retail System Software (RSS) project.
The contract, which has a 54-month base period and renewal options, is expected to generate, over a fifteen-year term, around $50m in revenue for the group, but with scope for substantial additional revenue.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The first revenue from this contract win, worth around $4m, is expected this year ending December 2012, with increasing revenue in 2013 as the software is rolled out across the network.
The shares rose 18.5p to 255p on the announcement.
NR
-
Dividend heroes: the investment trusts that have increased their dividends for 20+ yearsInvestment trusts can be a good option for income-focused investors – but which trusts have consistently increased their dividends over the past 20 years?
-
Six reasons not to top up your state pensionA deadline to buy National Insurance credits and top up your state pension is fast approaching. Here’s why it may not be worth it for some people
