SatCon Sees Increased Military Spending At Chip Unit
Dow Jones Newswires
CAMBRIDGE, Mass. -- SatCon Technology Corp. (SATC) is experiencing increased military spending activity in its Semiconductor Products unit.
Under its FMI product lines, the company makes components for the cruise missile video electronics, phased array radar, satellite uplinks, and components and piece parts, like the "heads up" display, for the F-16, F-18 and F-22 military aircraft. In recent weeks, the division has seen its military component backlog increase from 50% to 70%.
A company spokesman wasn't immediately available to comment on how the increase may affect SatCon's outlook.
In a press release Thursday, the maker of power and energy management products said it recently consolidated its Semiconductor Products division into a single location in Marlborough, Mass., where it has an automated manufacturing line.
The line is producing specialty electronics for several major military supplies, SatCon said.
The company said it also consolidated its Power Systems unit to improve costs, and it is seeing some interest in new shaker test systems, as well as commercial-sized UPS systems.
In late October, SatCon's shares rose as much as 55% after it received a patent for its biological and chemical detection system. However, analysts don't expect the patent to have a near-term impact because the system isn't commercially available.
SatCon's stock traded recently at $5.70, up 53 cents, or 10.3%, on Nasdaq volume of 68,000 shares. Average daily volume is 153,530 shares.
Company Web site: satcon.com |
