It might not be a big win but is another welcome sign of...

It might not be a big win but is another welcome sign of recovery. That said I doubt we will be back to profit just yet. Getting closer to break even would still be a great outcome after the nasty FY2016 loss.
Xtek posted a profit of $231,000 in FY2015 but that was on turnover of $12m. So far we have had announced revenue for 2017 of $7.6m (assuming the latest is delivered and paid for by end June) so we have a fair way to go in the remaining third of FY2017.
I hope I am proved wrong but there are two reasons for caution.
Most of the $7.6m is agency business and that typically has lower margins than Xtek's own products. The sniper rifle margins should be better though but that was only about a third of revenues announced so far and I do not know how much of that will be delivered in FY2017.
Secondly, earlier years have included significant FCT payments for the carbon fibre testing. As I understand it the FCT work was extended by the US DoD but I have not seen any reference to extended payments in FY2017. I hope the US DoD's interest in looking longer will pay off later, but maybe not this year.
As a long-term holder I remain hopeful about Xtek. Hopefully we will soon get news about Land 129 and even if revenues do not start until FY2018 any announcement of an order should help the SP.