LONDON (ShareCast) - (ShareCast News) - Shares in Filtronic soared on Wednesday morning after it revealed it had resolved a technical issue with its integrated wireless antenna product and hence won a follow-up order.
The technical issues that arose in January were now reported to have been cleared up, with a pre-production batch of products given to a customer in March and April functioning well for in a number of tests.

As a result, the wireless business won $0.27m of production tooling orders from a "major" telecoms industry original equipment manufacturer of ultra-wide-band integrated antennas.

"The receipt of production tooling orders will enable Filtronic to bring the product into a volume manufacturing ready state and it is anticipated that production orders will follow the completion of the tooling orders," Filtronic said.

Directors added that they continued to "evaluate measures to strengthen the company's balance sheet".

Analysts at house broker Panmure Gordon admitted that while they were encouraged by the product news they "remain cautious on the outlook given a continued lack of order visibility and a weak balance sheet".

Shares in Filtronic were up 40% to 10.5p in early trade, before settling back to 9.25p by 0910 BST on Wednesday.

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