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LONDON (Alliance News) - Filtronic PLC said Thursday it has received further "substantial" production orders for its new range of integrated antennas from an undisclosed European original equipment manufacturer, valued at around USD24.2 million.
These orders are follow-ons to previously announced orders of USD13.8 million, Filtronic said, and it expects the new orders to be fulfilled in the year to end-May 2017.
It noted that as these orders are being placed to put inventory into its customer's sales channels they may therefore not represent normal demand levels.
"These new orders are a further sign of the market acceptance being shown for our new antenna products. As with any new product introduction it is difficult to predict the timing and scale of market demand. However, we are delighted with the progress made to date," said Chief Executive Officer Rob Smith in a statement.
Shares in Filtronic were up 27% at 10.44 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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