West Yorkshire’s Filtronic secures new $2m contract

Filtronic plc, the designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market and adjacent markets, has secured a $2m production order for its new range of integrated antennas from a major European OEM.

The new contract is a follow-on to the $3.9m order received from the customer in January 2016.

Filtronic expects to fulfil this $2m order in the current financial year ending 31 May 2016.

This major contract win is the second significant oder secured since the Leeds-headquartered firm posted a drop in overall sales.

Before Filtronic was awardeda $1.9m order from a major US multinational company last month, the firm reported sales of £4.5m for the half year results ending 30 November 2015, which was down from £7.3m on the previous year.

Filtronic also saw wireless sales drop to £1.9m, and broadband sales fall to £2.6m. In addition, during these six months the firm posted a pre-tax profit of £4.27m, down from £5.32m.

At the time, Rob Smith, CEO of Filtronic, said: “After a very difficult two years, we have significantly restructured and redefined the strategies of our business units. The recently announced contract wins give us confidence that we are now gaining traction and moving forwards in a positive direction.

“We have taken a substantial amount of cost out of the business and are focused on growing product sales that can deliver acceptable and sustainable margins.”