Micronetics Receives Initial $3.7 M Contract Award
Micronetics Inc. announced that it has been awarded a follow-on production contract, valued at approximately $3.7 M, from a leading US Department of Defense (DoD) prime contractor for the supply of high performance broadband microwave subsystems. Each subsystem, which consists of several Integrated Microwave Assemblies (IMA), satisfies a demanding modernization requirement for Airborne Electronic Warfare (EW) Systems, particularly those focused on Aircraft Self-Protection Suites (SPS).
The award represents an initial manufacturing release for these products. This is a significant integrated subsystem booking and is incremental to our March 31, 2011 backlog of $31 M. Hardware deliveries are targeted for completion over a 12-month time period beginning in Micronetics’ FY2012 second quarter. In addition, the company expects to see potential follow-on and derivative orders that could reach $20 M over the next several years.
“This award represents a significant milestone for Micronetics – one that we expect will continue to strengthen the financial positioning of the company in a positive and meaningful way,” says the company’s CEO, Dave Robbins. “We’ve worked for many years to earn an opportunity like this one.''