MTI Wireless Edge (AIM:MWE) has received two orders totalling approximately US$1m to supply military antennas.
One order, worth approximately US$0.7m, comes from an existing European defence client and is due for delivery within five months. The second order is from a local defence company and is scheduled for delivery over a two-year period.
The bookings add to a run of defence-related wins for the antenna division, which supplies military and commercial antennas across a broad frequency range.
"April is continuing to be a strong month for us having secured a series of significant defence-related orders with a combined value of just above US$9m. This increased level of order intake is encouraging and we continue to see opportunities for securing further orders primarily for our range of defence related products but also from across the entire business," Moni Borovitz, CEO, said.
Deliveries under the two new contracts are staged, one within five months, the other across the next two years, reflecting short- and medium-term revenue visibility for the antenna division.
