Frequency Electronics, Inc. (NASDAQ:FEIM), a leading provider of precision timing and frequency control products for space and terrestrial applications, is pleased to announce the award of multiple contracts with a combined value of approximately $18 million.
FEI has received an award of $11 million from a major aerospace prime contractor to supply on-board precision frequency-generation system for a proliferated satellite program. In adddtion, FEI was awarded approximately $7 million in follow-on production contracts for both space oscillators and non-space U.S. Government programs.
CEO Tom McClelland commented, “We are pleased that we continue to be a trusted supplier for these mission-critical programs. Ongoing procurements are a testament to the quality and precision of our products and to the value we provide for our customers.
“These awards also reflect the growing demand for capabilities that support the proliferation of space assets, as well as the increasing need for secure, data-intensive information exchange to enable modern military operations. Notably, the $11 million award represents FEI’s first contract with this customer, underscoring the growing market demand for FEI’s technologies and solutions, and is our second significant contract for proliferated satellites in 2026.
“We expect significantly more wins in this area going forward.”
FEI shares grabbed $1.75, or 2.4%, to $74.14.
