Contract Win

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. [phone]
Rob Smith (CEO)	Tel. [phone]
Michael Tyerman (Finance Director)	Tel. [phone]
Panmure Gordon (UK) Limited	Tel. [phone]
Dominic Morley / Alina Vaskina (Corporate Finance) Erik Anderson (Corporate Broking)
Walbrook PR Limited	Tel. [phone] or [e-mail]
Paul Cornelius Sam Allen	Mob. [phone] Mob. [phone]

Notes:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

END

 

 

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