Adacel Technologies (ADA)
Julian Bajkowski
Aeronautical and air traffic control (ATC) simulation software is a market that specialist systems developer Adacel hopes will provide it with continued growth through 2010 after the company recorded a threefold increase in net profit for financial year 2009 to $6.8 million. Adacel's shares have risen about 65 per cent this year and the company is hoping to gain more work providing upgrades to ageing ATC systems in non-Western economies in addition to more traditional military markets through partnerships with aviation veterans including Lockheed Martin. The strong results saw Adacel climb to around 78¢ at the beginning of the month, but the stock has since retreated marginally to around 66¢. The company is negotiating contracts in Saudi Arabia and India which, if sealed, could see continued interest from investors in the small cap that is yet to attract a large amount of coverage from market analysts.
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