Mitec Telecom Inc. announced Friday that it has signed a multi-year supply agreement with an Australasian customer for the supply of high power booster amplifiers to be deployed in satellite earth stations. The supply agreement is valued at $5 million.
“This agreement is of particular importance as it underscores the continuing expansion of our customer base and the diversification of our markets,” said Rajiv Pancholy, Mitec’s President and Chief Executive Officer.
“These booster amplifiers are from the Wavesat stable of products we recently acquired. We are excited to be entering into this long term relationship with a world class player in the field of satellite communications.”
“Market wins such as this one enable us to look at the future with optimism. Additionally, we remain confident in meeting our stated second quarter goal of continued revenue growth and net break even, and we will use this major milestone as the springboard to launch a greater number of new products into an expanding customer base,” stated Mr. Pancholy.
