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Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) announced the award of a contract for space-qualified precision oscillators for ultimate application to a government satellite program. This order is an exercise of options on a current contract. Value of the award is approx. $5.3m. The contract period of performance runs through October of 2024. No further details of the award are being released.
FEI CEO Stan Sloane commented, “We are extremely pleased that one of our key customers has exercised contract options, reflecting continued satisfaction with FEI’s products and delivery performance. This award will result in even more FEI products being incorporated into critical satellites that support our warfighters and an ever-growing number of FEI products in space.”
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