Frequency Electronics Inc. Awarded $5 Million Plus Order for Secure Communication Equipment
MITCHEL FIELD, N.Y., Nov. 03, 2016 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (NASDAQ:FEIM) has received an order in excess of $5 million for secure communications equipment. The equipment provides a highly reliable solution to enhance command and control communications in a large US Department of Defense program. The solution incorporates the timing systems expertise of FEI-Zyfer, Frequency's California subsidiary, along with FEI's core state-of-the-art precision time and time interval technology. FEI-Zyfer will produce the equipment to be supplied. It consists of numerous units utilizing a proven design. The design is readily amenable to manufacturing in volume. The units ordered are expected to be delivered during calendar 2017.
Commenting on the award, Martin Bloch CEO said: "This order is a sign that FEI is getting traction in our large secure communications business opportunity. Under the contract we supply unique equipment which protects command and control communications at multiple military installations. It more than meets mission goals, is affordable, and is designed for volume production. Furthermore, this equipment is based on and relies heavily on proprietary advanced FEI timing and Low G technology."
About Frequency Electronics
Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high precision timing, frequency control and synchronization products for space and terrestrial applications. Frequency's products are used in satellite payloads and in other commercial, government and military systems including C4ISR markets, missiles, UAVs, aircraft, GPS, secure radios, energy exploration and wireline and wireless communication 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 and strategic acquisitions world-wide 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 46 GHz, for space and other challenging environments."
Subsidiaries and Affiliates: Gillam-FEI provides expertise in network synchronization and monitoring; FEI-Zyfer provides GPS and secure timing ("SAASM") capabilities for critical military and commercial applications; FEI-Asia provides cost effective manufacturing capabilities; FEI-Elcom Tech provides added resources for state-of-the-art RF microwave products. Frequency's Morion affiliate supplies high-quality, cost effective quartz oscillators and components. Additional information is available on the Company's website: www.frequencyelectronics.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
The Statements in this press release regarding the future constitute "forward-looking" statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, inability to integrate operations and personnel, actions by significant customers or competitors, general domestic and international economic conditions, consumer spending trends, reliance on key customers, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, competitive developments, changes in manufacturing and transportation costs, the availability of capital, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Contact information: Martin B. Bloch, President and CEO: TELEPHONE: (516) 794-4500 WEBSITE: www.frequencyelectronics.com