Micronetics Gets Initial $3.7M Contract Award to Supply

Micronetics, Inc. NOIZ announced today that it has been awarded a follow-on production contract, valued at approximately $3.7 million, from a leading U.S. Department of Defense prime contractor for the supply of high performance broadband microwave subsystems. Each subsystem, which consists of several Integrated Microwave Assemblies, satisfies a demanding modernization requirement for Airborne Electronic Warfare Systems, particularly those focused on Aircraft Self-Protection Suites. The award represents an initial manufacturing release for these products. This is a significant integrated sub-system booking and is incremental to our March 31, 2011 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,” says the company's CEO, 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. 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.