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Filtronic wins contract with QinetiQ
(Sharecast News) - Communications components manufacturer Filtronic said on Monday that it has secured a new contract win with global defence and security company QinetiQ. Filtronic said Phase 1 of the contract, valued at £2.0m, with revenue expected to be recognised over the next two years, was for the development of a radio-frequency subsystem to be installed into a range radar solution that can be deployed either as a vehicle-mounted land system or a helicopter-mounted mobile solution.
The AIM-listed noted that the proposed RF subsystem design will draw upon its "established expertise" in the design, assembly, and tuning of complex RF filters, together with the manufacture and test of highly integrated RF transmit and receive modules.
Chief executive Richard Gibbs said: "We are delighted to be selected as the preferred partner on this project to provide an RF subsystem for the upgrade of an established range radar system. Winning this contract with a multinational, world-class defence technology company such as QinetiQ, is an important strategic development as we add a target client to our customer register and broaden the customer base."
As of 1015 GMT, Filtronic shares were 4.48% higher at 21.94p.
Reporting by Iain Gilbert at Sharecast.com
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