Frequency Electronics awarded $18.98M precision oscillators contract » 16:5907/3007/30/20
Frequency Electronics announced the selection of its precision oscillators for a national security satellite program. The oscillators will provide the primary frequency reference for the communications payload and will be delivered to the prime contractor for integration into the satellite and ultimate delivery to the US government. The contract value is $18.98M, with a period of performance of approximately six years, inclusive of all options.
|Over a month ago|
Fly Intel: After-Hours Movers » 18:5507/0107/01/20
VERO, FEIM, NUS, FORM, AXNX, LDOS, CULP, BLFS, PLYA, AKRO, MCD, FIZZ
Check out this evening's…
Frequency Electronics gets $28.6M contract from aerospace and defense firm » 16:0507/0107/01/20
Frequency Electronics announced the award of a contract for frequency generation subsystems from a major aerospace and defense prime contractor for end use on a critical US Government defense satellite program. The contract value is approximately $28.6 million, including all options and includes the design and manufacture of the primary frequency references for the satellites. The period of performance is approximately three years, again, inclusive of options. Commenting on the win, FEI CEO Stan Sloane said, "We are very proud to have been selected for this key program and, once again, be providing a major subsystem for military satellites. Our selection was based not only on our proven ability to deliver high performing and high reliability electronics for space application, but on a long history of meeting commitments to our customers. The award reflects this customer's absolute confidence in FEI. This is a very significant win for us and one which clearly establishes FEI as the premier source for time and frequency references for space applications."
Frequency Electronics unit receives 5-year contract valued at roughly $2.7M » 16:3606/1706/17/20
Frequency Electronics, Inc. announced that its wholly owned subsidiary FEI-Elcom Tech, Inc. received a five year contract valued at approximately $2.7M, if all options are exercised, for supply of advanced synthesizer sub-systems to a leading U.S defense prime contractor for ultimate government end use. Additional order potential for these synthesizers is estimated at more than $2.5M, including spares and international sales opportunities. The synthesizers will be incorporated into next generation Electronic Warfare systems installed on various US defense platforms. The synthesizers incorporate Elcom's proprietary fast switching, very low phase noise technology, applicable to next generation EW and Electronic Intelligence systems.
Frequency Electronics to repay PPP loan » 17:5205/0705/07/20
Frequency Electronics as…
Frequency Electronics as previously announced, received proceeds on April 12, 2020 from a loan in the amount of $4,964,810 from JPMorgan Chase Bank, N.A. as the lende, pursuant to the Small Business Administration .Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act. On May 6, 2020, the Company elected to repay the PPP Loan in full. FEI CEO, Stanton Sloane commented, "We are fortunate that the initial concerns we had regarding the potential impact of COVID-19 have not come to fruition, and we believe that our need for the capital provided by the PPP Loan has diminished. We have a strong balance sheet without the loan, we have continued operations as an essential industry and we continue to deliver products and collect payments. Consequently, we are pleased to repay the loan and free up that resource for other companies that have been more affected."
|Over a quarter ago|
Frequency Electronics awarded $7.2M in contracts » 16:1003/1203/12/20
Frequency Electronics announced the award of two contracts with an aggregate value of approximately $7.2M. Both contracts are for design and manufacture of master oscillators and time/frequency generation electronics that will be incorporated into US Government space and airborne platforms, respectively. Further details on the contracts cannot be disclosed.
Frequency Electronics appoints Thomas McClelland as SVP, chief scientist » 09:0201/2801/28/20
Frequency Electronics announced it is promoting one of its long time technical leaders to Chief Scientist for the corporation. Dr. Thomas McClelland, in addition to holding a PhD in physics from Columbia University, has led FEI's advanced technical development team for the last 20 years. Dr. McClelland replaces Martin Bloch, the Company's former Chief Scientist.
Frequency Electronics DRAFS completes critical design review » 09:1401/0901/09/20
Frequency Electronics (FEIM) announced its next generation Rubidium atomic clock successfully completed a Critical Design Review by prime contractor Lockheed Martin (LMT) Space for potential use on the U.S. Air Force's GPS III Follow On satellite program. The Digital Rubidium Atomic Frequency Standard clock is an evolution of previous generation Rubidium atomic clocks designed for space applications. The DRAFS clock leverages technology developed by FEI and currently in operation on several government satellites. The successful CDR allows the new DRAFS clock to move forward into fabrication and testing to verify performance.
Frequency Electronics announces $4.2M contract award for precision oscillators » 16:0512/1212/12/19
Frequency Electronics announces a contract award for precision oscillators for a next-generation satellite application. Under this contract, FEI will develop, manufacture, test and deliver state of the art oscillators which provide the primary frequency reference for the spacecraft and enhance its mission effectiveness. These high-performance, space qualified oscillators are an evolution of FEIs technology which has been proven on numerous US Government and commercial satellite programs over the last 58 years. The contract is valued at approximately $4.2m, if all options are exercised.Commenting on the award, FEI CEO, Stanton Sloane said, "We are extremely pleased to have been selected for this critical sub-system and proud to play a part in providing key capabilities for this state of the art satellite."
Frequency Electronics announces $3M contract award » 16:0311/1811/18/19
Frequency Electronic announces the award of an approximately $3M contract for advanced technology oscillators for a US Government system. Under this contract, FEI will design and manufacture high performance oscillators and conduct associated qualification testing.Commenting on the award, FEI CEO, Stanton Sloane said, "We are pleased to have been selected for this program and that our advanced technology is being used to support critical US military systems."