Micronetics Receives Order Valued at Approximately $2 M
Micronetics Inc. announced that it has been awarded a contract valued at approximately $2 M from a defense contractor for high performance microwave isolators that will be used in a radar system designed to help protect naval ships worldwide.
Deliveries on this contract will commence in Q1 FY2011 and continue for 18 months.
David Robbins, CEO of Micronetics, said, "This program is part of a larger 'readiness and cost containment' initiative that has been put in place by the navy. The goal is to reduce the cost of ownership on key naval defense and security systems by upgrading and extending service life, while at the same time, keeping the existing legacy systems operationally ready and equipped with the most advanced microwave component technologies available today."
Robbins continued, "We've focused Micronetics product development on supporting these types of programs across all military platforms, as this is an area where we see the possibility for sustained demand over a long period of time."