Thursday, September 4, 2008

Micronetics snags $2.2M microwave component order

By Mass High Tech Staff

Micronetics Inc., a Hudson, N.H.-based maker of microwave and radio frequency components for the defense, aerospace and commercial industries, has booked a new $2.2 million order from an unnamed RF subsystems manufacturer. The order was placed through the company’s Microwave Concepts subsidiary.

The order includes a highly integrated microwave subassembly that officials called  “a key element of the communications system providing the in-flight Internet access on commercial and business aircraft.”

While the customer was not named, Micronetics (Nasdaq: NOIZ) customers with a stake in the aviation industry include Aerosat Avionics, Airspan, BAE Systems, Boeing, General Dynamics and Lockheed Martin.

The deal is the third such deal for the Microwave Concepts subsidiary over the past six months. In June, it landed $4 million in advanced funding to supply microwave subassemblies to an unnamed defense OEM, and in March, it landed a $1.2 million order from an unnamed aerospace integrator to supply a combination of microwave mixers, isolators and limiters for use on a space satellite application.

The company also went through an executive shuffle in August, when it promoted vice president of new business development and former M/A-COM Inc. executive Kevin Beals to president, and former Polaroid Corp. executive Carl Lueders to the position of CFO.

Micronetics reported a 2008 net income of $1.7 million on revenue of $32.6 million.