Benzinga | Feb 8, 2021 04:02PM EST

Frequency Electronics, Inc. Awarded $4.5M Contract for Next Generation Rubidium Atomic Clock

Frequency Electronics, Inc. ("FEI" or the "Company") (NASDAQ-FEIM) today announced the award of a contract for its digital Rubidium Atomic Clock, a next generation, high-precision frequency and timing source. Contract value is approximately $4.5 m. Details of the contract are not being released.

FEI CEO, Stan Sloane, commented, "We are extremely pleased to announce the launch of our next generation Rubidium atomic clock with this contract award. FEI has leveraged its unique expertise in developing rubidium clocks to produce a new design that exhibits significant advantages in digital capability from what is currently available. FEI is proud that our products have, once again, been selected for a key program, reflecting confidence in our ability to meet critical mission performance requirements."