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Frequency Electronics, Inc. - FEIM STOCK NEWS

Welcome to our dedicated page for Frequency Electronics news (Ticker: FEIM), a resource for investors and traders seeking the latest updates and insights on Frequency Electronics stock.

Frequency Electronics, Inc. (Symbol: FEIM) is a prominent player in the field of high-precision timing and frequency control products. The company is known for its expertise in designing, developing, and manufacturing these products for a diverse array of applications spanning space, air, sea, and terrestrial environments. With a keen focus on reliability and precision, Frequency Electronics caters to three principal markets: communication satellites (both commercial and U.S. Government-funded), terrestrial cellular telephone or other ground-based telecommunication stations, and components and systems for the U.S. military.

Operating through two key segments, FEI-NY and FEI-Zyfer, the company derives the majority of its revenues from the FEI-NY segment. This segment is primarily engaged in the production of precision time and frequency control products which are critical for the aforementioned markets. The FEI-Zyfer segment, although smaller, also plays a significant role in supporting the company's mission and strategic goals.

Frequency Electronics has been making strides in advancing its core technologies, as evidenced by recent program awards. CEO Tom McClelland emphasized the company's ongoing commitment to supporting U.S. Government secure communication systems, highlighting that FEI's investments in cutting-edge technologies ensure its status as an essential participant in critical government programs.

As of now, the company continues to push the envelope in the development of high-precision instruments to measure electricity. The financial health of the company remains robust, driven by strategic partnerships and an unwavering focus on innovation. The leadership team, including Dr. Thomas McClelland as President and CEO, and Steven Bernstein as CFO, is dedicated to steering the company towards a future of sustained growth and technological superiority.

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Frequency Electronics, Inc. (NASDAQ: FEIM) will hold a conference call to discuss its fiscal year 2023 second-quarter results on December 12, 2023, at 4:30 PM Eastern Time. The call will be webcast and can be accessed on the company's Investor Relations section of its website. Investors and analysts can also join via phone. A replay will be available for one week after the call, with continued access through a link on the company's website until March 12, 2024.
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Frequency Electronics, Inc. (FEI) has been awarded a $9M multi-year contract to deliver advanced atomic clocks for a satellite navigation system for a new non-US government customer. The contract includes options with a potential production value of more than $70 million over the next 5 to 6 years, highlighting FEI's strength in atomic standards technologies for commercial and military satellite applications.
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Frequency Electronics, Inc. (NASDAQ-FEIM) secures a $19m contract from a major U.S. aerospace prime contractor to supply precision frequency-generation systems for a multi satellite program. The contract entails the development, manufacture, testing, and delivery of state-of-the-art frequency generators and microwave synthesizers within 24 months, enhancing mission effectiveness for the spacecraft platforms.
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Frequency Electronics, Inc. (NASDAQ: FEIM) has announced a $25m contract award to deliver precision frequency-generation systems for a national security satellite program, demonstrating the company's ability to provide high-performance space qualified systems. The contract aims to enhance the mission effectiveness of the satellites and support the US government's goal of achieving a more resilient space presence. FEI will develop, manufacture, test, and deliver the state-of-the-art frequency generation system within less than 24 months, showcasing their commitment to timely delivery. This significant award reflects the company's optimism and expertise in next-generation systems, building on their 62-year track record of proven technology in government and commercial satellite programs.
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Frequency Electronics, Inc. reports Q1 2024 revenues of $12.4M, up from $8.2M in Q1 2023. Operating income is $2.1M compared to an operating loss of $3.1M in the same period last year. Net income is $2.0M or $0.22 per diluted share. Backlog at the end of Q1 is $51.8M, up from $39.7M in Q1 last year. Company expects bookings to increase backlog significantly in the next two quarters. Cash used in operations is $2.8M in Q1 2024. Investor conference call scheduled for September 14, 2023.
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Frequency Electronics, Inc. to discuss Q1 FY2023 results in conference call on Sept. 14, 2023.
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Frequency Electronics, Inc. (NASDAQ-FEIM) reported its fiscal 2023 revenues for the three-month period ended January 31, 2023, at approximately $10.6 million, down from $12.2 million year-over-year. For nine months, revenues dropped to $27.8 million from $38.1 million. The company achieved an operating income of $325,000 in Q3, a turnaround from a loss of $721,000 in Q3 2022, though it recorded a nine-month operating loss of $5.1 million, worse than the previous year's $2.1 million loss. The net loss per share improved to ($0.03) for Q3, while the nine-month loss increased to ($0.62) per share. A strong backlog of $54 million was reported, reflecting growth potential in commercial and government satellite markets.

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Frequency Electronics, Inc. (NASDAQ: FEIM) will hold a conference call to discuss its third quarter results for fiscal year 2023, ending January 31, 2023, on March 9, 2023, at 4:30 PM ET. The call will be webcast by Issuer Direct Corporation and can be accessed on the company's website. For those unable to attend live, a telephone replay will be available for one week after the call. Frequency Electronics specializes in high precision timing, frequency generation, and RF control products used in various applications including satellite systems and military operations. The company continues to invest in R&D to enhance its product capabilities.

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FAQ

What is the current stock price of Frequency Electronics (FEIM)?

The current stock price of Frequency Electronics (FEIM) is $12.36 as of October 8, 2024.

What is the market cap of Frequency Electronics (FEIM)?

The market cap of Frequency Electronics (FEIM) is approximately 114.7M.

What does Frequency Electronics, Inc. do?

Frequency Electronics, Inc. designs, develops, and manufactures high-precision timing and frequency control products for space, air, sea, and terrestrial applications.

What are the main market segments for Frequency Electronics, Inc.?

The main market segments include communication satellites, terrestrial cellular telephone stations, and U.S. military components and systems.

Which segment generates the most revenue for Frequency Electronics, Inc.?

The FEI-NY segment generates the majority of the company's revenues.

Who are the key executives at Frequency Electronics, Inc.?

Dr. Thomas McClelland is the President and CEO, and Steven Bernstein is the Chief Financial Officer.

What is the significance of the recent program awards mentioned?

The recent program awards highlight FEI's continued importance in supporting U.S. Government secure communication systems and its investment in key technologies.

What kind of products does the FEI-NY segment focus on?

The FEI-NY segment focuses on precision time and frequency control products.

How does Frequency Electronics, Inc. support the U.S. military?

The company provides precision timing and frequency control components and systems essential for various military applications.

What are the recent achievements of Frequency Electronics, Inc.?

Recent achievements include securing program awards for its ongoing support in U.S. Government secure communication systems.

Why is Frequency Electronics, Inc. important in the communication satellite market?

FEI provides critical precision timing and frequency products that are essential for the operation and reliability of communication satellites.

What does FEI-Zyfer segment specialize in?

The FEI-Zyfer segment, while smaller, supports the company's strategic goals in high-precision timing and frequency control.

Frequency Electronics, Inc.

Nasdaq:FEIM

FEIM Rankings

FEIM Stock Data

114.71M
9.57M
11.89%
55.18%
0.6%
Communication Equipment
Instruments for Meas & Testing of Electricity & Elec Signals
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United States of America
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