Adacel Technologies Limited (AU:ADA) has released an update.
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Adacel Technologies Limited, a leader in air traffic management and simulation systems, has announced an updated FY2024 Earnings Guidance following a $59 million contract with the FAA, which is under re-evaluation due to a protest. The company is also undergoing restructuring, including personnel reductions to improve productivity, resulting in one-time costs of approximately $0.7 million. Adacel has adjusted its FY2024 EBITDA guidance to between USD $0.8 million and $1 million, excluding these one-time costs.
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