MTI Wireless Edge secures $600,000 additional contract

Communications and radio frequency solutions provider MTI Wireless Edge said its antenna division had received an additional order to an existing contract valued at around $600,000.

The original order for the manufacturing of military antennas, worth $1m, will be delivered over 40 months, while the additional order will be fulfilled within the next 12 months, the company said on Friday.

Chief executive Moni Borovitz said: "We are delighted with this additional contract win, which demonstrates this customer's satisfaction with our products, technology and service.

"We continue to see expansion and growth opportunities in all sectors of the antenna industry, particularly in the 80 GHz spectrum as mobile operators start to implement the roll-out of their 5G networks."

As of 0820 GMT, MTI shares were up 4.47% at 39.85p.