Tel-Instrument Electronics Corp (NYSEAMERICAN:TIK) disclosed Friday that it secured an order for avionics test equipment valued at $615,000 from a major military customer in the Asia-Pacific region.
New Jersey-based Tel-Instrument Electronics designs and manufactures avionics test and measurement solutions for the aviation and military aerospace and defense markets globally and in the US.
The company provides instruments to test, calibrate and repair a range of airborne navigation and communication equipment.
“We are pleased to report the receipt of a $615,000 follow-on order from the Asia-Pacific region for our T-47/M5 integrated dual crypto Mode 5 test set. This brings the cumulative T-47/M5 orders from this customer to over $1 million. This customer had been waiting for AIMS certification before releasing this follow-on order,” Tel-Instrument CEO Jeff O’Hara said in a statement.
READ: Tel-Instrument Electronics stock nearly doubles after $816,000 order from US defense contractor
Investors sent shares in Tel-Instrument Electronics up 22.6% to $3.71 in premarket trade Friday.
The T-47/M5 Mode 5 test set has been sold in eight different countries so far.
“We believe this test set will be the test set of choice for many international customers due to its dual crypto capability, and ability to perform detailed Mode 5 platform integration testing,” said O’Hara. “The US Army has begun purchasing these test sets for their Mode 5 platform integration testing. These most recent orders and other pending contracts continue to strengthen our position as the worldwide leader for Mode 5 flight-line test equipment.”
The company was founded in 1947 and is headquartered in East Rutherford, New Jersey.
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