Frequency Electronics, Inc., Announces the Selection of its High Precision Oscillators and Frequency Generation Products for a Critical Military Satellite System
Frequency Electronics, Inc. (NASDAQ-FEIM) announced a follow-on contract valued at approximately $6.3 million for high precision oscillators for a crucial military satellite system. This contract extends over a period of 24 months. Interim President and CEO, Thomas McClelland, expressed confidence in the company's ability to provide reliable electronics in challenging environments, emphasizing FEI's role in mission-critical satellite systems. The company is recognized for its excellence in developing electronic assemblies for various military and space applications.
- Awarded a follow-on contract worth approximately $6.3 million.
- Strong customer confidence demonstrated through contract extension.
- Company recognized for high performance and reliability in space applications.
- None.
MITCHEL FIELD, N.Y., July 29, 2022 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) today announces the selection of its high precision oscillators and frequency generation products for a critical military satellite system. The award is a follow-on option on a current contract and is valued at approximately
FEI Interim President and CEO, Thomas McClelland commented, “We are extremely pleased to be selected to provide additional systems for these very important satellites. It reflects the confidence a key customer has in our ability to deliver high performance and high reliability electronics that must operate in the demanding environment of space. FEI continues to be the go-to solution for the most mission critical elements of the spacecraft, the timing and frequency systems…the heart of the satellite.”
About Frequency Electronics
Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high precision timing, frequency generation and RF control products for space and terrestrial applications. Frequency’s products are used in satellite payloads and in other commercial, government and military systems including C4ISR and electronic warfare, missiles, UAVs, aircraft, GPS, secure communications, energy exploration and wireline and wireless networks. Frequency has received over 100 awards of excellence for achievements in development of 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 Electronic Warfare (“EW”) sub-systems and state-of-the-art RF microwave products. Additional information is available on the Company’s website: www.frequencyelectronics.com
Contact information:
Dr. Thomas McClelland, Interim President and Chief Executive Officer;
Steven Bernstein, Chief Financial Officer;
TELEPHONE: (516) 794-4500 ext.5000
WEBSITE: www.freqelec.com
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