Frequency Electronics, Inc. (FEI) Associates Awarded the Queen Elizabeth Prize for Engineering
03 4월 2019 - 4:16AM
Frequency Electronics, Inc. (NASDAQ-FEIM) is pleased to announce
that Richard Schwartz, currently an FEI board member and Hugo
Fruehauf, a previous executive officer of and current consultant to
the company were among the four awardees, along with Dr. Bradford
Parkinson and Professor James Spilker, Jr., of the 2019 Queen
Elizabeth Prize for Engineering (QEPrize) for their pioneering work
on the creation of the Global Positioning Satellite (GPS) system.
The QEPrize is a prestigious, global recognition for engineering
achievement awarded every two years to an individual or group of
engineers whose developments have had a significant positive impact
on humanity.
Martin Bloch, FEI’s founder and Chief Scientist commented, “We
congratulate Richard and Hugo for this well-deserved recognition.
The GPS system has had an incalculable effect on our daily lives,
and while we tend to take it for granted these days, the original
development of the system has to be considered nothing short of an
engineering miracle. We are proud of our affiliation with both
gentlemen and the role they played on GPS. FEI is also proud of our
long history of atomic clock technology advancements and the
continuation of that legacy as we develop the next generation of
atomic clocks for GPS and other space and terrestrial applications.
Our congratulations, as well, go to Dr. Parkinson and Professor
Spilker.”
Stanton Sloane, FEI’s CEO said, “FEI has long been associated
with the development of key technologies that ultimately made the
GPS system a possibility, including pioneering research into quartz
oscillators and implementation of these on the Timation I and II
satellites, the predecessors to GPS. In collaboration with the Navy
Research Laboratory, FEI conducted key research into the physics of
quartz crystals and developed critical manufacturing processes that
enabled the production of high performance oscillators that play a
key role in many of today’s precision timing systems. Built upon
those pioneering efforts, FEI has delivered over 1000 timing
systems for numerous satellite platforms since 1963. FEI clocks and
oscillators have a long history of operations in space, including
the timing system on the Voyager II spacecraft, launched in 1977
and still keeping precision time. Building upon that foundation, we
now embark on the creation of the next generation of this
technology.”
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
satellite payloads and in other commercial, government and military
systems including C4ISR and EW markets, missiles, UAVs, aircraft,
GPS, secure radios, energy exploration and wireline and wireless
communication networks. Frequency has received over 100
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 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 50 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 Electronic Warfare (“EW”) 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
quartz components for commercial applications. 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: Stanton Sloane, President, Chief Executive
Officer: Steven Bernstein, Chief Financial Officer; Martin Bloch,
Executive Chairman of the Board:
TELEPHONE: (516) 794-4500
WEBSITE:
www.frequencyelectronics.com
Frequency Electronics (NASDAQ:FEIM)
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