Filtronic secures $3m follow-on contract with US customer

(Sharecast News) - AIM-listed Filtronic said on Tuesday that it has secured a $3m follow-on contract with its undisclosed US-based customer in satellite communications. The company - which designs and manufactures advanced RF solutions for the space, aerospace, defence and telecoms infrastructure markets - said this supports the next phase of, and is incremental to, the $8m development programme with the same customer announced in March.

The contract is to support the procurement of critical long lead-time components, mitigating supply chain risk and supporting the accelerated development and delivery timelines required as the programme advances.

Chief executive Nat Edington said: "Securing this follow-on contract with the customer reflects the strength of our growing relationship with them and their continued confidence in Filtronic's technical expertise and delivery capabilities.

"The commitment to secure long lead-time components to support the pre-production phase of the programme is another important step for the relationship."

At 1230 GMT, the shares were up 5.9% at 222.40p.

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