Frequency Electronics, Inc., Announces Award of a Contract for High Performance Oscillators for Space
13 12월 2019 - 6:01AM
Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM)
announces a contract award for precision oscillators for a
next-generation satellite application. Under this contract, FEI
will develop, manufacture, test and deliver state of the art
oscillators which provide the primary frequency reference for the
spacecraft and enhance its mission effectiveness. These
high-performance, space qualified oscillators are an evolution of
FEIs technology which has been proven on numerous US Government and
commercial satellite programs over the last 58 years. The contract
is valued at approximately $4.2m, if all options are exercised.
Commenting on the award, FEI CEO, Stanton Sloane
said, “We are extremely pleased to have been selected for this
critical sub-system and proud to play a part in providing key
capabilities for this state of the art satellite.”
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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