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Frequency Electronics Reports Contract Awards at Sidoti Investor Conference

Fri, 06/15/2012 - 12:25pm

Frequency Electronics made a presentation to investors and analysts at the Sidoti & Co Semi-Annual Micro Cap Conference held at the Grand Hyatt Hotel, New York. At the conference, the Company reported that it had received numerous contracts with strategic implications and aggregating over $15 million, confirming the Company's positive growth outlook. These contracts include follow-ons to long-term, existing programs, contracts involving common designs for systems previously operating in space, upgrades to electronic systems on existing government platforms and, of special significance, several new contracts on hosted satellite payloads. The growth in demand for hosted payloads presents a major business opportunity for Frequency. Hosted payloads allow other users to "piggyback" their own additional separate payloads on a satellite. Frequency was an early participant in hosted payloads having applied its technology to several payloads already operating in orbit. Currently contract and development activity is accelerating. Martin Bloch, President and CEO, emphasized that economic circumstances require that military and other government procurement be focused on achieving better functionality and performance from existing systems and platforms with lower additional costs. He confirmed that Frequency greatly benefits from this requirement to "do more with less." Frequency's world-leading technologies in precision time, low phase-noise, low g, ruggedized microwave frequency sources and ultra-fast synthesizers are key enablers for improved performance in electronic systems. According to Mr. Bloch, "Applying our proprietary technology to achieve more at lower cost is a key foundation for Frequency's continued growth this year, next year and beyond." Additional information is available on the Company's website: www.frequencyelectronics.com

 

June 15, 2012

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