Micronetics Receives an Order Valued at Approximately $1.5M for Microwave High Power Switches Used in a Radar System
September 21 2011 - 1:00PM
Business Wire
Micronetics, Inc. (NASDAQ:NOIZ) announced today that it has been
awarded a contract valued at approximately $1.5M from a leading
defense contractor for microwave high power switches that will be
used in an air surveillance radar system. These systems are
designed to protect forces and critical assets from cruise
missiles, unmanned aerial vehicles (UAVs), and for general homeland
defense and special event protection.
Deliveries on this contract are expected to commence in Q4
FY2012 and continue for 15 months.
David Robbins, CEO of Micronetics, states, "This order is part
of our base business portfolio of products and programs. This is
another win which indicates to us that our base business remains
robust and validates our strategy of supporting defense systems
which focus on troop protection with sustained demands over a long
period of time."
Micronetics manufactures microwave and radio frequency (RF)
components and integrated subassemblies used in a variety of
defense, aerospace and commercial applications. Micronetics also
manufactures and designs test equipment and components that test
the strength, durability and integrity of communication signals in
communication equipment. Micronetics serves a diverse customer
base, including BAE Systems, Boeing, Cobham, EADS, General
Dynamics, ITT, L-3 Communications, Lockheed Martin, Northrop
Grumman, Raytheon, Rockwell, Teradyne, and Thales. Additional
information can be found on our website at www.micronetics.com.
Some of the statements contained in this news release are
forward-looking statements. The accuracy of these statements cannot
be guaranteed as they are subject to a variety of risks, including
but not limited to reductions in spending by certain of our
customers, yearly and quarterly fluctuations in our operating
results, trends and factors affecting our markets which may reduce
demand and pricing pressure on our products, our reliance on a
limited number of customers, risk that federal government contracts
may be terminated at any time, factors which may negatively affect
our gross margins, our ability to attract and retain key technical
and management personnel, our ability to operate and integrate
acquired companies, our ability to manage our growth, disruptions
in supply or production, increased levels of debt, our ability to
protect our proprietary information, future economic conditions in
our industry and generally, as well as other factors. The
information in this release should be reviewed in conjunction with
Micronetics' Annual Report on Form 10-K for its fiscal year ended
March 31, 2011 as well as its other filings with the Securities and
Exchange Commission.
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