Filtronic PLC Contract Win (2033Z)
August 30 2018 - 1:01AM
UK Regulatory
TIDMFTC
RNS Number : 2033Z
Filtronic PLC
30 August 2018
30 August 2018
Filtronic plc (the "Company")
New Contract Win
Filtronic plc (AIM: FTC), the designer and manufacturer of
antennas, filters and mmWave products for the wireless telecoms and
critical communications markets, is pleased to announce the receipt
of a follow-on, production order from a major European OEM for its
Massive MIMO ("mMIMO") antenna product.
The follow-on order, valued at approximately $1.1 million,
represents a continuance of demand for the mMIMO antenna for which
the Company announced initial orders on 1 August 2018 and is in
line with the Company's expectations. The follow-on order was
received on 29 August 2018 and is anticipated to be fulfilled in
the current calendar year.
As this product moves into regular production, demand is
expected to flow in accordance with our customer's normal buying
cycles. As a consequence, Filtronic will not announce further
orders for this product type unless they fall outside the expected
pattern or are material in the context of our anticipated financial
performance. There is no certainty that production orders will
continue at the current rate.
Rob Smith, CEO, said "We are pleased that order flow is now
running for this product which is the first offering from our
Massive MIMO antenna range. This technology is key to the
densification of 4G/LTE networks and is a cornerstone technology
for future 5G networks.".
Filtronic plc Tel. 0113 220 0000
Rob Smith (CEO) Tel. 07810 774 688
Michael Tyerman (Finance Director) Tel. 07956 029 502
Panmure Gordon (UK) Limited Tel. 020 7886 2500
Dominic Morley / Alina Vaskina (Corporate
Finance)
Erik Anderson (Corporate Broking)
Walbrook PR Limited Tel. 020 7933 8780 or filtronic@walbrookpr.com
Paul Cornelius Mob. 07866 394 707
Sam Allen Mob. 07884 664 686
Notes:
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
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END
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