No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - RF technology specialist Filtronic announced a 7m multi-year contract to supply radio frequency assemblies for a major European low earth orbit (LEO) satellite constellation on Thursday.
The AIM-traded firm said the three-year agreement with a leading European aerospace manufacturer marked a deepening relationship with a relatively new customer, and expanded Filtronic's presence in the fast-growing space communications market.
It said the assemblies, designed and manufactured in-house, were engineered to meet the stringent performance and reliability demands of the LEO environment.
"This contract highlights our increasing diversification across customers within the space markets and reflects the trust placed in Filtronic's capability to deliver at scale for the most demanding space applications," said chief executive Nat Edington.
"As demand for satellite connectivity continues to grow, this is another milestone in Filtronic's mission to support the growing satellite market for non-terrestrial networks, mobile satellite services, and direct-to-device connectivity."
At 1349 GMT, shares in Filtronic were down 0.17% at 134.77p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.