New Contract Award

RNS Number : 9113N

Filtronic PLC

07 June 2022

 

7 June 2022

Filtronic plc

("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 the award of a follow-on contract for full production units after a successful pilot-phase (as announced on 20 October 2021) build of over-the-air 5G mmWave modules into the test equipment market.

The new contract, for a customer based in the USA, is valued at $0.9m (approximately £0.7m) and follows successful delivery of the pilot production phase in FY2022. The product extends the frequency range of the customer's existing product offering above 50GHz by employing Filtronic's extensive mmWave specific design and manufacturing know-how. Revenue is expected to be recognised in FY2023 and meets the strategic objective of broadening the customer base. It also establishes an adjacent telecommunications market we have been actively targeting for growth.

Richard Gibbs, Chief Executive Officer, commented:  "We are delighted to have been chosen as the production partner for these technically challenging mmWave products. Once again, we have been able to demonstrate the importance of our in-house manufacturing, and our ability to take a design all the way through from initial concept into full production. We now look forward to the challenge of delivering production units working to secure future manufacturing orders of this product."

Enquiries:

Filtronic plc	Tel. [phone] or [e-mail]
Richard Gibbs (Chief Executive Officer)
Michael Tyerman (Chief Financial Officer)
finnCap Limited	Tel. [phone]
Jonny Franklin-Adams/Tim Harper (Corporate Finance)
Alice Lane / Sunila de Silva (ECM)
Walbrook PR Limited	Tel. [phone] or [e-mail]
Paul Vann	Mob. [phone]

Notes:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

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