Frequency Electronics Announces Satellite Contract
09 12월 2010 - 6:00AM
Frequency Electronics Inc. (Nasdaq:FEIM) has received an order for
approximately $5 million under a contract to supply timing and
microwave frequency sources for a communications satellite program
involving multiple satellites. The contract calls for hardware
previously developed by Frequency Electronics. This hardware
is currently deployed and operating successfully in orbit.
The contract value exceeds $30 million including options for
additional satellites. We anticipate receiving authorization
to proceed (ATP) for the next satellite on this program during the
first six months of calendar 2011.
About Frequency Electronics
Frequency Electronics, Inc. is a world leader in the design,
development and manufacture of high precision timing, frequency
control and synchronization products for space and terrestrial
applications. Frequency's products are used in commercial,
government and military systems, including satellite payloads,
missiles, UAVs, aircraft, GPS, secure radios, SCADA, energy
exploration and wireline and wireless communication networks.
Frequency has received over 60 awards of excellence for
achievements in providing high performance electronic assemblies
for over 120 space programs. The Company invests significant
resources in research and development and strategic acquisitions
world-wide to expand its capabilities and markets.
Subsidiaries and Affiliates: Gillam-FEI provides expertise in
wireline network synchronization and SCADA; FEI-Zyfer provides GPS
and secure timing ("SAASM") capabilities for critical military and
commercial applications; FEI-Asia provides cost effective
manufacturing and distribution capabilities in a high growth
market. Frequency's Morion affiliate supplies high-quality,
cost effective quartz oscillators and components. Elcom
Technologies provides added resources for state-of-the-art RF
microwave products. Additional information is available on
the Company's website: www.frequencyelectronics.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The Statements in this press release regarding
the future constitute "forward-looking" statements pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements inherently involve
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Factors that
would cause or contribute to such differences include, but are not
limited to, inability to integrate operations and personnel,
actions by significant customers or competitors, general domestic
and international economic conditions, consumer spending trends,
reliance on key customers, continued acceptance of the Company's
products in the marketplace, competitive factors, new products and
technological changes, product prices and raw material costs,
dependence upon third-party vendors, competitive developments,
changes in manufacturing and transportation costs, the availability
of capital, and other risks detailed in the Company's periodic
report filings with the Securities and Exchange Commission. By
making these forward-looking statements, the Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release.
CONTACT: Frequency Electronics, Inc.
Alan Miller, CFO
General Joseph P. Franklin, Chairman
(516) 794-4500
www.frequencyelectronics.com
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