Nearly all of Adacel's revenue over the next two years or so...

Nearly all of Adacel's revenue over the next two years or so will come from long term US, Australian, and EU government (civil and military) contracts.

The kinds of contracts that Adacel is involved in are considered essential air traffic management and ATC training infrastructure projects. Governments will not stop spending on such essential projects during a mild US recession or even sharp slowdown in China. If anything, a short slowdown in global economic output will encourage the Aust, US and EU govts to spend more on such projects.

Adacel remains on track to generate further significant increases in full year NPAT for 07 and again in 08.