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FILTRONIC PLC
Capital/Financing Update • Jun 7, 2022
7640_rns_2022-06-07_514e3d0d-af51-44c5-97d3-15fe31f65643.html
Capital/Financing Update
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National Storage Mechanism | Additional information 
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 [email protected] |
| 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 [email protected] |
| 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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