Filtronic Plc, a manufacturer of products for the aerospace, defense and telecommunication industry, expects its full year profit to more than triple, boosted by sales to its lead customer, Elon Musk\u2019s SpaceX. <\/p>\n
The British company supplies SpaceX with ground-based modules that amplify radio frequency signals for use within its Starlink constellation of satellites. It forecast adjusted earnings before interest, taxes, depreciation, and amortization of at least \u00a34.8 million ($6.1 million) in 2024, compared with \u00a31.3 million a year earlier, according to a statement on Thursday. It forecast revenue of about \u00a325.4 million in the same period, up from \u00a316.3 million a year ago. <\/p>\n
The outlook is a reflection of the growing demand for satellite-based internet services that can provide connectivity to parts of the world that lack digital infrastructure. In April, Filtronic said it awarded SpaceX the option to take a stake of up to 10% alongside a $19.7 million contract \u2014 viewed by investors as a high-profile seal of approval for the UK company\u2019s technology. <\/p>\n
\u201cA key driver of this was the emerging market of low earth orbit space and in particular, sales to our lead customer, SpaceX,\u201d Filtronic said in the statement. \u201cAs SpaceX launch more satellites to expand their constellation, this necessitates an expansion of their ground stations to ensure high speeds and low-latency within the network.\u201d <\/p>\n
The London-listed company said its business operations \u201cscaled significantly\u201d in the second half of the fiscal year due to strong product demand within its core markets. It is now investing in manufacturing capabilities to \u201cfacilitate further growth potential,\u201d according to the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"
Filtronic Plc, a manufacturer of products for the aerospace, defense and telecommunication industry, expects its full year profit to more than triple, boosted by sales to its lead customer, Elon Musk\u2019s SpaceX. The British company supplies SpaceX with ground-based modules that amplify radio frequency signals for use within its Starlink constellation of satellites. It forecast adjusted earnings before interest, taxes, depreciation, and amortization of at least \u00a34.8 million ($6.1 million) in 2024, compared with \u00a31.3 million a year earlier, according to a statement on Thursday. It forecast revenue of about \u00a325.4 million in the same period, up from \u00a316.3 million […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-824347","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/824347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=824347"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/824347\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=824347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=824347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=824347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}