Shares of Filtronic plc (AIM: FTC) surged 13.21% following the announcement of a significant contract win with SpaceX, valued at $20.9 million.
The deal, to be fulfilled over fiscal years 2025 and 2026, has led the company to project revenues and profits surpassing current market expectations for both years.
The UK-based designer and manufacturer of high-performance RF (radio frequency) solutions for aerospace, defence, space, and telecoms infrastructure markets has expressed confidence in its growth trajectory.
CEO Nat Edington remarked on the importance of the contract, stating, "We are delighted to have secured this substantial order, which underscores Filtronic's reputation for delivering high-performance RF solutions to our market-leading customer."
With Filtronic's stock on the rise, investors will be closely monitoring the company's progress as it works to fulfill the SpaceX contract and capitalize on its growing presence in its strategic markets.
