EOS completes takeover, boosts profit forecast

Canberra-based electronics and systems developer Electro Optic Systems (ASX: EOS) has completed the takeover of communications business EM Solutions and released increased profit forecasts for the year. The company is now a subsidiary and a foundation for EOS’s new communications division, alongside its divisions in defence and space business. EOS’s expertise is in laser communications…

Defence industry boost needed for national security

Increasing regional strategic uncertainties require new defence industry policies to achieve military self-sufficiency, according to to military strategists. Writing in the journal of the Australian Strategic Policy Institute, David Harvey and Graeme Dunk said Australia was not prepared for conflict from fuel supplies to bullets and spare parts. They argue: “For Australia to be more…

ResMed grows sales and profits

Sleep apnea treatment company ResMed (ASX: RMD) achieved strong growth in revenue and profit in the first quarter of the 2020 financial year driven by product innovation and increasing software sales. The Sydney company reported revenue up 16 per cent to $999.3 million (US$681 million) with net operating profit up 19 per cent. ResMed manufactures…