SpaceX Demand Propels Telecom Equipment Maker’s Profit Forecast
A Starlink satellite internet system in Galisteo, New Mexico.
Photographer: Cate Dingley/BloombergThis article is for subscribers only.
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’s 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 £4.8 million ($6.1 million) in 2024, compared with £1.3 million a year earlier, according to a statement on Thursday. It forecast revenue of about £25.4 million in the same period, up from £16.3 million a year ago.