23rd Jun 2026 09:09
(Alliance News) - Filtronic PLC on Tuesday said it expects to deliver full-year adjusted earnings slightly ahead of market expectations as it announced a new contract worth GBP400,000.
Despite this, shares in Filtronic fell 7.5% to 351.50 pence each in London on Tuesday but have more than doubled in the last 12 months.
The Sedgefield, England-based maker of advanced micro electronics said the contract win was with a US-based customer to design a "state-of-the-art high-frequency module". The award follows the GBP6.0 million contract announced in March with the same customer.
Revenue from this initial contract is expected to be recognised in financial 2027.
For financial 2026, Filtronic expects to deliver adjusted earnings before interest, tax, depreciation and amortisation of at least GBP11.1 million, slightly ahead of market expectations, and revenue of at least GBP55.5 million, in line with market expectations.
This reflects "robust execution across customer programmes and continued progress in broadening its customer base," Filtronic said.
In the financial year ended May 2025, Filtronic reported revenue of GBP56.3 million and adjusted Ebitda of GBP17.0 million.
Filtronic said customer concentration with the group's largest customer reduced further during the year, supported by expanding and deepening relationships across the space and defence sectors and increasing order visibility.
It enters financial 2027 with a strong order book, which already covers 90% of consensus revenue, the firm added.
By Jeremy Cutler, Alliance News reporter
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