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By: AllPennyStocks.com
The recession has carved a wide swath across all sectors of the economy, not
just in Canada or North America, but worldwide. One of the few industries immune
to all this financial destruction, it appears, has been the military,
particularly in the United States. The men and women who rely on intelligence to
aid them in their arduous task of keeping our shores free from those who would
do us harm have proven willing buyers for firms competent enough to supply
those.
In early December – ironically enough, on the anniversary of the day America
entered World War Two – it was announced that Ottawa-based OSI Geospatial Inc. (TSX:
OSI) had signed research and development contracts, through its U.S. division
with a variety of customers, primarily in the military, for a total of $1.8
million Canadian, to advanced technology engineering services and support. The
company expects to recognize the revenue from these projects within the next 12
months.
OSI Geospatial Inc. delivers advanced geospatial systems and software that
enable shared real-time situational awareness for military, safety and security
applications. These are products and services that enable its customers
throughout the world, to integrate and visualize live data with any combination
of sensor data, imagery, maps and charts. This capability provides our customers
with enhanced operational performance, safety and security through shared
real-time situational awareness.
In business since 1977, OSI Geospatial delivers products and services to a large
and fast-growing part of the defense and homeland security markets, which
generates an estimated $1.1 billion U.S. of annual spending. Its product base
covers a range of technologically-sophisticated products such as Cognitive
Engineering, digital mapping, geospatial command, control, communications and
intelligence, (C3I for short), navigation systems, software engineering,
simulation-based training and systems integration.
In November, the company announced it was reaching further into the submarine
market with a new naval customer with its ECPINS-W Sub® WECDIS technology for
trials and evaluation. The contract also includes training. With ECPINS, OSI
boasts the most advanced surface and subsurface navigation functionality in the
world, and also claims to have the largest customer base and greatest number of
ships using their ECPINS® technology. In addition to ECPINS, OSI has fielded the
advanced Warship-AIS (W-AIS) product, which provides intelligence and analysis
as well as situational awareness and is a fleet-wide installation in the United
Kingdom’s Royal Navy.
The company’s stock has traded in a fairly narrow range over the last 52 week,
peaking at 24 cents last May, dropping to a basement of eight cents shortly
before New Year 2009 dawned. While volume was fairly heavy on OSI shares the day
of the Million-dollar-plus contracts, the price was fixated on a level around 14
cents, still very much in bargain territory.
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