After a rather poor third quarter, Mission Ready Solutions (TSXV: MRS) appears to be getting things back on track. The firm this morning announced that its Unifire subsidiary has received a rather large contract.
The subsidiary has reportedly received a contract for Cots – Shelter Systems, via the US Defense Logistics Agency for the troop support clothing and textiles supply chain. The contract, valued at up to US$200 million, is said to be for an indefinite delivery and indefinite quantity.
The deal itself is related to military tents, parts, and support equipment, and is for an initial one year base period. Three one year option periods are associated with the contract as well, with the US$200 million figure specifically being a maximum dollar value of the contracts.
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Due to the nature of the contract, the firm has indicated that it is uncertain just how much revenue it will generate from the contract, as individual purchase orders are now to be made under the contract. Gross margins however are expected to not differ materially from historical figures.
Mission Ready Solutions last traded at $0.19 on the TSX Venture.
Information for this briefing was found via Sedar and Mission Ready Solutions Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
