Frequency Electronics, Inc. Announces Award of Contracts to Develop a Next Generation Atomic Frequency Standard
04 4월 2018 - 10:00PM
Frequency Electronics, Inc. (NASDAQ:FEIM) today announced the award
of two cost-plus-fixed-fee contracts by the Air Force Research
Laboratory (AFRL), one to develop a Space Qualified Advanced Atomic
Frequency Standard (AAFS) and one for design and documentation
support associated with the AAFS development. Combined value of the
contracts is approximately $37M. Work will be performed principally
at FEI’s Mitchel Field, New York facility.
FEI CEO Martin Bloch commented, “Under these
contracts, FEI will develop an advanced atomic clock applicable to
a variety of future government satellite programs. The AAFS program
leverages FEI’s previous development of a Digital Rubidium Atomic
Frequency Standard. This next generation of space qualified atomic
clocks will offer a 10 to 1 improvement in performance. This
is a very strategic win for FEI.”
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 and government satellite payloads and in other
government and military programs including; C4ISR, EW systems,
missiles, UAVs, aircraft, GPS, secure communications, as well as in
energy exploration, wireline and wireless communication
networks. Frequency has received over awards of excellence
for achievements in providing high performance electronic
assemblies for over 150 space and DOD programs. The Company
invests significant resources in research and development and
strategic acquisitions world-wide to expand its capabilities and
markets.
Frequency’s Mission Statement: “Our mission is
to provide precision time and low phase noise frequency generation
systems from 1 Hz to 46 GHz, for space and other challenging
environments.”
Subsidiaries and Affiliates: FEI-Zyfer provides
GPS and secure timing ("SAASM") capabilities for critical military
and commercial applications; FEI-Elcom Tech provides sub-systems
for the Electronic Warfare (“EW”) markets and added resources for
state-of-the-art RF microwave products, FEI-Asia provides cost
effective manufacturing capabilities. Frequency's Morion
affiliate supplies high-quality, cost effective oscillators and
components. 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 information: Martin B. Bloch, President and CEO:
Telephone: (516)
794-4500
WEBSITE:
www.frequencyelectronics.com
Frequency Electronics (NASDAQ:FEIM)
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