crookers, hard to put the story in a short post but just a few...

crookers, hard to put the story in a short post but just a few points to try to flesh out the story.
The purchase of the Poltech assets by Redflex includes inventory, IP including a lot of european certifications for the PLL speed cameras, the Poltech Lasercam, the right to seek transfer of 3 US contracts to Redflex, and I believe several Victorian contracts (Geelong Road speed cameras, 28 speed/red light intersection systems) with the Vic Govt. These Vic contracts were barely started by Poltech and must be an embarrasment to the Vic Govt.

In a revenue sense Australian sales, although important, only provide a minority of income for Redflex as they are outright sales, the main income will always come from the annuity style stream from the US BOOM contracts over their contract terms of 5 years+.
Funny, the market here always attaches a lot more importance to Australian contracts, probably because it does not really understand the US business.

The exchange rate loss was exclusively in the domain of the Communications division, a division which has been poorly managed and hopefully will be soon at the very least cleaned up, if not sold.
In relation to the US business at present there is a natural exchange rate hedge in that all US$ revenue is being plowed back into more new US installations and that will continue for some time.