Filtronic wins $8.4m contract with SpaceX

30th Aug 2024 09:31

(Sharecast News) - Communications equipment company Filtronic said on Friday that it had won a contract with SpaceX valued at $8.4m.

Filtronic stated the order was irrevocable and represented a continuation of demand for its E-band solid-state power amplifier modules to support the ongoing deployment of SpaceX's Starlink constellation.

The AIM-listed group anticipates the order will be fulfilled in the year ending 31 Dcember 2025 and now expects to trade ahead of current market expectations for FY2025.

Chief executive Nat Edington said: "We are delighted to receive another production order from our partner, SpaceX, as we continue to support the deployment of the Starlink constellation with E-band technology.

As of 0930 BST, Filtronic shares were up 3.50% at 78.66p.

Reporting by Iain Gilbert at Sharecast.com

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