Benzinga | Dec 3, 2020 04:31PM EST

Frequency Electronics, Inc. Announces ~$5.2M Contract For Precision Voltage Controlled Quartz Crystal Oscillators

MITCHEL FIELD, N.Y., Dec. 03, 2020 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. ("FEI" or the "Company") (NASDAQ-FEIM) is pleased to announce the award of a contract for precision Voltage Controlled Quartz Crystal Oscillators (VCXO) with a contract value of approximately $5.2m. This is a follow-on to a contract previously awarded and announced in September 2019. The oscillators will provide critical timing information for US Government satellites.



FEI CEO Stan Sloane commented, "We are extremely pleased that additional VCXOs have been selected for this critical satellite program. As we stated in our September 3, 2019 press release, we anticipated additional orders for these oscillators and this award validates that prediction. We anticipate additional orders in addition to this one, as well. We are also proud to continue our legacy of providing critical components for key US Government programs that support our warfighters and our allies."