IN BRIEF: Filtronic secures USD8 million follow-on US contract

Filtronic PLC - Sedgefield, England-based maker of advanced microelectronics - Wins a USD8 million, follow-on contract with a US-based customer to design, develop and build prototype units for deployment on satellites. This "represents a significant expansion of the customer relationship" after the initial USD500,000 development contract Filtronic announced in June, and from a USD8.0 million order the same customer placed for amplifier technology in March. Filtronic says the new contract further demonstrates its ability to develop and deliver highly advanced mmWave technology for satellite payload applications, and reinforces its growing position in the satellite communications market. Expects to complete the contract in the first half of financial 2028, and for revenue to be recognised across that year and financial 2027, "providing further visibility over future revenues."

"Being awarded this significant follow-on contract with our recently secured US customer demonstrates the growing relationship and the confidence they have in Filtronic's technical expertise," says Chief Executive Nat Edington. "Our ability to develop and deliver highly advanced mmWave technology at pace is enabling us to establish ourselves as a trusted partner in the rapidly growing satellite market. We are delighted to be expanding our role in this programme and look forward to continuing to support our customer as the technology progresses towards deployment."

Current stock price: 235.00 pence, up 9.3% in London on Wednesday

12-month change: up 72%

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