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) 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.