Welcome to our dedicated page for Frequency Electr news (Ticker: FEIM), a resource for investors and traders seeking the latest updates and insights on Frequency Electr stock.
Frequency Electronics, Inc. reports developments in precision timing, frequency generation and RF control products for space and terrestrial applications. Company news commonly covers contract awards tied to satellite payloads, position, navigation and timing systems, secure communications, C4ISR, electronic warfare, missiles, UAVs, aircraft, GPS, energy exploration and wireline and wireless networks.
Updates also include financial results, backlog and order-book commentary, multi-year revenue targets, research and development priorities, and subsidiary activity at FEI-Zyfer and FEI-Elcom Tech. The company’s disclosures emphasize space-qualified atomic clocks, secure timing capabilities, RF and microwave products, and mission-critical systems for commercial, government and military customers.
Frequency Electronics, Inc. (NASDAQ-FEIM) reported Q1 fiscal 2021 revenues of $13.0 million, up from $12.6 million in Q1 fiscal 2020. The operating loss narrowed to $337,000 compared to $780,000 the previous year. Net loss improved to $262,000 or ($0.03) per diluted share versus ($0.07) in Q1 fiscal 2020. Revenue from satellite payloads surged to $6.7 million (51% of total revenues). The company maintained positive cash flow and a backlog of $38 million as of July 31, 2020.
Frequency Electronics, Inc. (NASDAQ: FEIM) will hold a conference call on September 10, 2020, at 4:30 PM ET to discuss its fiscal Q1 2021 results, which ended July 31, 2020. The call will be accessible via webcast on Frequency's Investor Relations website and also through a telephone dial-in option. A replay of the call will be available for one week post-event. Frequency Electronics specializes in high precision timing and RF control products used in various applications including military and commercial systems. The company has received numerous awards for excellence in electronic assemblies.
Frequency Electronics, Inc. (FEIM) announced a $5.0 million contract for precision oscillators to be utilized in US military platforms, reinforcing its strong presence in the defense sector. This contract follows several prior agreements for similar oscillators and is set to last approximately two years. CEO Stan Sloane highlighted the company’s reputation for delivering high-performance components in dynamic environments.
Frequency Electronics (NASDAQ: FEIM) has secured an $18.98 million contract for its precision oscillators, destined for a national security satellite program. These oscillators will serve as the primary frequency reference for the communications payload and will be delivered over a six-year period. CEO Stan Sloane emphasized the significance of this contract, which arises from the company's reliable performance and commitment to its customers, contributing to the support of military efforts globally.
Frequency Electronics, Inc. (NASDAQ-FEIM) reported fiscal year 2020 revenues of $41.5 million, down from $49.5 million in 2019. The operating loss widened to $10.9 million from $2.8 million the previous year, with a net loss of $10.0 million, or ($1.10) per diluted share, compared to ($0.28) in 2019. The decline was attributed to delays in contract awards and supply chain issues due to COVID-19. Despite this setback, the company experienced increased business activity, with backlog ending at $36 million and ongoing negotiations for significant contracts.
Frequency Electronics, Inc. (NASDAQ: FEIM) will host a conference call to discuss its fiscal year 2020 results on July 16, 2020, at 4:30 PM ET. Investors can access the call via a web link or by dialing in. A replay will be available for one week post-call. The company specializes in high-precision timing, frequency generation, and RF control products utilized in various government and commercial applications, including satellite systems and electronic warfare. Frequency Electronics is recognized for its innovation with over 100 awards in excellence.
Frequency Electronics, Inc. (NASDAQ-FEIM) has secured a contract valued at approximately $28.6 million for frequency generation subsystems from a major aerospace and defense contractor. This contract pertains to a critical U.S. Government defense satellite program and covers a performance period of around three years. CEO Stan Sloane emphasized the company's proven ability to deliver reliable electronics for space applications, highlighting the customer's confidence in FEIM. This award positions FEIM as a premier provider of time and frequency references for space.
Frequency Electronics, Inc. (NASDAQ: FEIM) announced a contract valued at approximately $2.7 million with a U.S. defense contractor for advanced synthesizer sub-systems over five years, with additional potential orders exceeding $2.5 million. These synthesizers will enhance Electronic Warfare (EW) systems on U.S. defense platforms and feature Elcom's proprietary technology. Elcom aims to support the U.S. military's battlefield advantage through advanced technology.
Frequency Electronics, Inc. (NASDAQ: FEIM) received a $4,964,810 PPP Loan from JPMorgan Chase on April 12, 2020, under the COVID-19 relief program. The company announced on May 6, 2020, that it has repaid this loan in full, indicating a strong financial position and operational stability despite initial concerns about COVID-19's impact. CEO Stanton Sloane noted that the need for the loan diminished as the company continued operations and collected payments. Frequency Electronics specializes in high precision timing and frequency generation products for various applications.