LONDON (dpa-AFX) - Filtronic plc (FTC), engaged in the business of advanced radio frequency (RF) communications equipment, on Wednesday announced a new contract win from a leading RF test equipment company in the USA valued at $0.8 million (approximately 0.6 million pounds).
The new contract is for pilot phase production units following a successful product development of over-the-air 5G mmWave modules for the test equipment market. Filtronic considers the contract to be of strategic importance as it broadens the customer base and also addresses an adjacent market which the company had been actively targeting for growth.
The contract, provides order cover for an initial build of RF front-end modules for their next generation over-the-air 5G test equipment. The product will extend the frequency range of the customer's existing product offering above 50GHz by employing Filtronic's extensive mmWave specific design and manufacturing know-how. The pilot phase order is deliverable over a period of 18 months, with revenue predominantly recognised in FY2023.
The new contract follows an initial $1.0 million development order for the original design and development of the modules awarded in February 2020.
Shares of Filtronic closed Tuesday's trading at 10.75 pounds, up 0.25 pounds or 2.38 percent from previous close.
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