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Micronetics Receives an Order Valued at Approximately $1.5M for Microwave High Power Switches Used in a Radar System

^{Published on 2011-09-21 10:12:17 - Market Wire}
 

HUDSON, N.H.--([ BUSINESS WIRE ])--Micronetics, Inc. (NASDAQ:NOIZ) announced today that it has been awarded a contract valued at approximately $1.5M from a leading defense contractor for microwave high power switches that will be used in an air surveillance radar system. These systems are designed to protect forces and critical assets from cruise missiles, unmanned aerial vehicles (UAVs), and for general homeland defense and special event protection.

"This order is part of our base business portfolio of products and programs. This is another win which indicates to us that our base business remains robust and validates our strategy of supporting defense systems which focus on troop protection with sustained demands over a long period of time."

Deliveries on this contract are expected to commence in Q4 FY2012 and continue for 15 months.

David Robbins, CEO of Micronetics, states, "This order is part of our base business portfolio of products and programs. This is another win which indicates to us that our base business remains robust and validates our strategy of supporting defense systems which focus on troop protection with sustained demands over a long period of time."

Micronetics manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of defense, aerospace and commercial applications. Micronetics also manufactures and designs test equipment and components that test the strength, durability and integrity of communication signals in communication equipment. Micronetics serves a diverse customer base, including BAE Systems, Boeing, Cobham, EADS, General Dynamics, ITT, L-3 Communications, Lockheed Martin, Northrop Grumman, Raytheon, Rockwell, Teradyne, and Thales. Additional information can be found on our website at [ www.micronetics.com ].

Some of the statements contained in this news release are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, including but not limited to reductions in spending by certain of our customers, yearly and quarterly fluctuations in our operating results, trends and factors affecting our markets which may reduce demand and pricing pressure on our products, our reliance on a limited number of customers, risk that federal government contracts may be terminated at any time, factors which may negatively affect our gross margins, our ability to attract and retain key technical and management personnel, our ability to operate and integrate acquired companies, our ability to manage our growth, disruptions in supply or production, increased levels of debt, our ability to protect our proprietary information, future economic conditions in our industry and generally, as well as other factors. The information in this release should be reviewed in conjunction with Micronetics' Annual Report on Form 10-K for its fiscal year ended March 31, 2011 as well as its other filings with the Securities and Exchange Commission.