Frequency Electronics, Inc., Announces MIDS-JTRS Oscillator contract award valued at approximately $4.5 million
25 10월 2019 - 5:01AM
Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM)
announced the award of a contract from BAE Systems for precision
“g” (acceleration) compensated Oven-controlled Quartz Oscillators
(OCXO) for application in the Multifunctional Information
Distribution System - Joint Tactical Radio System (MIDS JTRS)
radio system. These precision oscillators incorporate FEI’s
state-of-the-art, patented technology for operating in high dynamic
environments and generate precise frequencies that are critical to
the overall performance of the MIDS-JTRS system. The contract is
valued at approximately $4.5m.
MIDS-JTRS is a four-channel radio designed to
run the complex Link 16 waveform and up to three additional
communication protocols, including the Airborne Networking Waveform
(ANW). The terminal will also be able to host and provide the
necessary computer processing to run routing and platform specific
applications, allowing for lower cost integration into host
platforms.
By utilizing software applications for expanded
capability, the MIDS-JTRS terminal enables enhanced operational
effectiveness without consuming additional space, weight, or
power. Aircraft such as fighters, tankers, transport, command
and control, and rotary wing, along with maritime and fixed sites,
are all potential users of the new communication and data link
terminal.
Commenting on the award, Alan Dewar, director of
Communication and Navigation Solutions at BAE Systems, said, ”FEI
is a silver-level supplier and key provider on the MIDS-JTRS
program.”
Stanton Sloane, FEI CEO, added, “We are
extremely pleased with this award and the opportunity to continue
to deliver one of our core technologies to BAE Systems for this
critical government program.”
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 government, military and
commercial, systems including C4ISR, EW, missiles, UAVs, aircraft,
secure communications, energy exploration and wireline and wireless
communication networks. With over one thousand systems
delivered to defense department and commercial customers, Frequency
has received more than 100 awards for excellence 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. 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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