FEIM - Frequency Electronics Announces Contract Award for Approximately $9 Million | Benzinga
MITCHEL FIELD, N.Y., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. ("FEI" or the "Company") (NASDAQ-FEIM) announces that it has been awarded a multi-year contract of approximately $9M to deliver advanced atomic clocks for a satellite navigation system for a new FEI, non-US government, customer. Per this contract FEI will deliver atomic frequency standards for deployment on a demonstration satellite to confirm the effectiveness of the navigation system performance. This important award includes contract options with a potential production value of more than $70 million for additional clocks over the next 5 to 6 years. The award emphasizes FEI's position and strength in atomic ...