Filtronic PLC New Contract Award (5943P)
20 October 2021 - 5:00PM
UK Regulatory
TIDMFTC
RNS Number : 5943P
Filtronic PLC
20 October 2021
20 October 2021
Filtronic plc
(the "Company" or "Filtronic")
NEW CONTRACT WIN
Filtronic plc (AIM: FTC), the designer and manufacturer of
products for the aerospace, defence, telecoms infrastructure and
critical communications markets , is pleased to announce a
significant new contract win, for pilot phase production units
following a successful product development of over-the-air 5G
mmWave modules for the test equipment market. The new contract,
valued at $0.8m (approximately GBP0.6m), is of strategic importance
as it fulfils the objective of broadening the customer base and it
addresses an adjacent market we have been actively targeting for
growth.
The contract, from a leading RF test equipment company in the
USA, provides order cover for an initial build of RF front-end
modules for their next generation over-the-air 5G test equipment.
The product will extend the frequency range of the customer's
existing product offering above 50GHz by employing Filtronic's
extensive mmWave specific design and manufacturing know-how.
This pilot phase order is deliverable over a period of 18
months, with revenue predominantly recognised in FY2023. The new
contract follows an initial $1.0m development order for the
original design and development of the modules awarded in February
2020.
Richard Gibbs, Chief Executive Officer, commented: "We are
delighted to have been chosen to deliver these technically
challenging products, to a client who meets our strategic objective
of broadening the customer base and the markets we serve, after the
completion of a successful design and development phase. We now
look forward to the challenge of delivering this pilot phase over
the next 18 months to ensure we can secure future production
orders. It is another tremendous endorsement of our engineering and
manufacturing capability and establishes our position as a leading
global player in the emerging mmWave equipment market".
Enquiries:
Filtronic plc Tel. 0113 220 0000 or investor.relations@filtronic.com
Richard Gibbs (Chief Executive
Officer)
Michael Tyerman (Chief Financial
Officer)
finnCap Limited Tel. 020 7220 0500
Jonny Franklin-Adams/Tim Harper (Corporate Finance)
Alice Lane / Sunila de Silva
(ECM)
Walbrook PR Limited Tel. 020 7933 8780 or filtronic@walbrookpr.com
Paul Vann Mob. 07768 807 631
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END
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