Frequency Electronics, Inc.Announces Contract Award for Space Qualified Oscillators
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MITCHEL FIELD, NY, October 15, 2021 (GLOBE NEWSWIRE) – Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) has announced the award of a contract for precision oscillators qualified for the end use in a government satellite program. This order is an exercise of options on a current contract. The value of the prize is approx. $ 5.3 million. The execution period of the contract extends until October 2024. No further details on the award are published.
FEI CEO Stan Sloane commented, “We are extremely pleased that one of our major customers has exercised contract options, reflecting FEI’s continued product satisfaction and delivery performance. This award will result in the integration of even more FEI products into essential satellites that support our fighters and an ever-increasing number of FEI products in space. “
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About frequency electronics
Frequency Electronics, Inc., is a global leader in the design, development and manufacture of high precision RF synchronization, frequency generation, and control products for space and terrestrial applications. Frequency’s products are used in satellite payloads and other commercial, government and military systems including C5ISR and electronic warfare, missiles, drones, airplanes, GPS, secure communications, energy exploration and wired and wireless networks. Frequency has received more than 100 awards of excellence for its achievements in providing high performance electronic assemblies for more than 150 space and DOD programs. The Company invests significant resources in research and development to expand its capabilities and markets.
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Frequency Mission Statement: “Our mission is to provide precision, low phase noise, time frequency generation systems from 1 Hz to 50 GHz, for space and other harsh environments.”
Subsidiaries and Affiliates: FEI-Zyfer provides GPS and Secure Synchronization (“SAASM”) capabilities for critical military and commercial applications; FEI-Elcom Tech provides state-of-the-art Electronic Warfare (“EW”) subsystems and RF microwave products. Additional information is available on the Company’s website: www.fréquenceelectronics.com
Contact Information: Dr. Stanton Sloane, President and CEO; Steven Bernstein, Chief Financial Officer;
PHONE: (516) 794-4500 ext 5000 WEBSITE: www.freqelec.com
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