HUDSON, N.H., June 15 (UPI) -- A prime contractor to the U.S. Defense Department has given Micronetics Inc. a follow-on production award for broadband microwave subsystems.
The contract is valued at about $3.7 million.
Micronetics didn't identify the customer but said each subsystem, which consist of several integrated microwave assemblies, is for use in modernizing Airborne Electronic Warfare Systems, particularly those focused on Aircraft Self-Protection Suites.
The award represents an initial manufacturing release for these products, is a significant integrated subsystem booking and is incremental to the company's March 31 backlog of $31 million.
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 million 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," said Micronetics Chief Executive Officer Dave Robbins. "We've worked for many years to earn an opportunity like this one."
Micronetics manufactures microwave and radio frequency components and integrated subassemblies used in a variety of defense, aerospace and commercial applications.