Radio-wave component specialist Filtronic PLC (LSE:FTC) has secured its largest production order from Elon Musk's SpaceX, this time worth $20.9 million (£16.8 million), to be fulfilled in both the current and next financial years.
The Durham-headquartered outfit said as a result of this latest contract it is confident of exceeding current market expectations for revenue and profit in both years.
Chief executive Nat Edington said the order "underscores Filtronic's reputation for delivering high-performance RF solutions to our market leading customer".
Shares in the UK company are up over 150% over the past 12 months, helped by a series of contract wins with the US rocket giant and other aerospace and defence contracts.
In April last year, SpaceX was issued warrants to buy shares in the microwave technology group, as part of an initial deal to supply E-band solid-state power amplifier modules for its Starlink satellite constellation under a $19.7 million deal.
In conjunction with what it called a strategic partnership, Filtronic issued almost 22 million warrants to SpaceX, allowing the US group to acquire a stake of around 10%.