FEI
FIRST TRUST MLP AND ENERGY INCOME FUND
stock NYSE

[https://ir.freqelec.com/news-releases/news-release-details/frequency-electronics-inc-announces-contract-awards-valued-0](https://ir.freqelec.com/news-releases/news-release-details/frequency-electronics-inc-announces-contract-awards-valued-0)
>FEI has received an award of $11 million from a major aerospace prime contractor to supply on-board precision frequency-generation system for a proliferated satellite program In adddtion, FEI was awarded approximately $7 million in follow-on production contracts for both space oscillators and non-space U.S. Government programs.
>FEI President and CEO, Tom McClelland, commented, “We are pleased that we continue to be a trusted supplier for these mission-critical programs. Ongoing procurements are a testament to the quality and precision of our products and to the value we provide for our customers. These awards also reflect the growing demand for capabilities that support the proliferation of space assets, as well as the increasing need for secure, data-intensive information exchange to enable modern military operations. Notably, the $11 million award represents FEI’s first contract with this customer, underscoring the growing market demand for FEI’s technologies and solutions, and is our second significant contract for proliferated satellites in 2026. We expect significantly more wins in this area going forward. The follow-on awards we won are also very attractive for FEI, as they tend to come at higher than average corporate gross margins, as we leverage previous engineering and development costs. As we discussed on our earnings call last week, we expect higher rate production levels, higher revenue and follow-on orders to drive meaningful gross margin expansion over the next three years. These awards are good proof points of this, and expect many more to come.”

[https://ir.freqelec.com/news-releases/news-release-details/frequency-electronics-inc-announces-contract-awards-valued-0](https://ir.freqelec.com/news-releases/news-release-details/frequency-electronics-inc-announces-contract-awards-valued-0)
>FEI has received an award of $11 million from a major aerospace prime contractor to supply on-board precision frequency-generation system for a proliferated satellite program In adddtion, FEI was awarded approximately $7 million in follow-on production contracts for both space oscillators and non-space U.S. Government programs.
>FEI President and CEO, Tom McClelland, commented, “We are pleased that we continue to be a trusted supplier for these mission-critical programs. Ongoing procurements are a testament to the quality and precision of our products and to the value we provide for our customers. These awards also reflect the growing demand for capabilities that support the proliferation of space assets, as well as the increasing need for secure, data-intensive information exchange to enable modern military operations. Notably, the $11 million award represents FEI’s first contract with this customer, underscoring the growing market demand for FEI’s technologies and solutions, and is our second significant contract for proliferated satellites in 2026. We expect significantly more wins in this area going forward. The follow-on awards we won are also very attractive for FEI, as they tend to come at higher than average corporate gross margins, as we leverage previous engineering and development costs. As we discussed on our earnings call last week, we expect higher rate production levels, higher revenue and follow-on orders to drive meaningful gross margin expansion over the next three years. These awards are good proof points of this, and expect many more to come.”