REG - Filtronic PLC - New Contract Award

FiltronicAnnouncement

07/06/2022 07:00

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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. 01740 618800 or investor.relations@filtronic.com
                                                            (mailto: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
                                                            (mailto:filtronic@walbrookpr.com)
 Paul Vann                                                  Mob. 07768 807 631

 

Notes:

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

 

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