Filtronic (FTC)

Sector:

IT Hardware

Index:

FTSE AIM All-Share

47.00p
   
  • Change Today:
    -0.50p
  • 52 Week High: 49.00
  • 52 Week Low: 11.00
  • Currency: UK Pounds
  • Shares Issued: 217.12m
  • Volume: 1,208,448
  • Market Cap: £102.05m
  • RiskGrade: 247

Filtronic announces significant contract win

By Josh White

Date: Wednesday 20 Dec 2023

LONDON (ShareCast) - (Sharecast News) - Aerospace, defence and telecoms infrastructure company and space-related products specialist Filtronic announced a significant contract win on Wednesday.
The AIM-traded firm said it had secured a contract valued at an initial $6m (£4.8m ) with an unnamed global provider of low earth orbit (LEO) satellite communications equipment.

It said the contract, with revenue expected to be recognised by the end of the 2024 calendar year, pertaining to the production and delivery of Filtronic's Cerus32 solid-state power amplifier (SSPA) module, the second generation of the technology.

The SSPA modules would be integrated into specific ground station locations for the customer's earth station antenna deployment.

It said the ground stations would facilitate full E-band connectivity to the ever-expanding array of E-band-enabled LEO satellites.

The board said the Cerus Power Module stood out because it uses Filtronic's unique MMIC chip design and proprietary power-combining techniques.

That resulted in a compact amplifier module with scalable output powers from 4W to over 20W at E-band frequencies.

Filtronic's collaboration with the customer enabled the acceleration of the Cerus technology roadmap, progressing from the initial Cerus16 units supplied in early 2023 to the current Cerus32 module, optimised for enhanced power output and ease of field deployment.

While the immediate focus was meeting the demand for Cerus32 SSPA modules under the contract, Filtronic said it was committed to further developing the Cerus SSPA platform.

The commitment stemmed from the customer's exploration of opportunities for higher power capabilities and the exploration of alternative frequency bands.

"We are delighted to continue our partnership with the leading global provider of LEO satellites and are pleased to supply production volumes of the Cerus32 SSPA module for deployment in its ground station antenna network," said chief executive officer Richard Gibbs.

"The customer has always valued the flexibility of the Cerus32 design and, with this new contract, is keen to take advantage of the scalable form factor and the additional power our second-generation E-band product provides."

At 1237 GMT, shares in Filtronic were up 7.95% at 22.67p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Filtronic Market Data

Currency UK Pounds
Share Price 47.00p
Change Today -0.50p
% Change -1.05 %
52 Week High 49.00
52 Week Low 11.00
Volume 1,208,448
Shares Issued 217.12m
Market Cap £102.05m
RiskGrade 247

Filtronic Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
58.42% below the market average58.42% below the market average58.42% below the market average58.42% below the market average58.42% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Price Trend
100.00% above the market average100.00% above the market average100.00% above the market average100.00% above the market average100.00% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income Not Available
Growth
12.77% below the market average12.77% below the market average12.77% below the market average12.77% below the market average12.77% below the market average
36% below the sector average36% below the sector average36% below the sector average36% below the sector average36% below the sector average

Filtronic Dividends

No dividends found

Trades for 26-Apr-2024

Time Volume / Share Price
16:15 42,176 @ 47.40p
17:06 25,000 @ 47.00p
16:23 5,322 @ 46.90p
15:23 30,000 @ 47.00p
16:15 526 @ 46.88p

Filtronic Key Personnel

CFO Michael Tyerman
CEO Richard Gibbs

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