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Frequency Electronics Announces the AWARD of TWO CONTRACTS VALUED at APPROXIMATELY $7.2 MILLION

Mar 12, 2020

MITCHEL FIELD, N.Y., March 12, 2020 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (NASDAQ: FEIM), announces the award of two contracts with an aggregate value of approximately $7.2 million. 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.

FEI CEO, Stan Sloane commented, “We are pleased to be selected for these programs and continue our legacy of delivering critical elements for key military platforms. FEI’s technologies are unsurpassed and our track record for performance and reliability is reflected in these awards.”

About Frequency Electronics

Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high precision timing, frequency generation and RF control products for space and terrestrial applications.  Frequency’s products are used in satellite payloads and in other commercial, government and military systems including C4ISR and electronic warfare, missiles, UAVs, aircraft, GPS, secure communications, energy exploration and wireline and wireless networks.  Frequency has received over 100 awards of excellence for achievements in providing high performance electronic assemblies for over 150 space and DOD programs.  The Company invests significant resources in research and development to expand its capabilities and markets.  

Frequency’s Mission Statement: “Our mission is to provide precision time and low phase noise frequency generation systems from 1 Hz to 50 GHz, for space and other challenging environments.”

Subsidiaries and Affiliates: FEI-Zyfer provides GPS and secure timing ("SAASM") capabilities for critical military and commercial applications; FEI-Elcom Tech provides sub-systems for Electronic Warfare (“EW”) and state-of-the-art RF microwave products. Additional information is available on the Company’s website: www.frequencyelectronics.com

Contact information:  Stanton Sloane, President & Chief Executive Officer; Steven Bernstein, Chief Financial Officer
                                
TELEPHONE: (516) 794-4500 ext.5000

WEBSITE:  www.freqelec.com

Source: Frequency Electronics, Inc.

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