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 (FEIM) maintains leadership in precision timing solutions for space, defense, and quantum technologies. This dedicated news hub provides authorized updates on FEIM's advancements in frequency control systems, military communications infrastructure, and measurement instrumentation.
Investors and industry professionals will find comprehensive coverage of earnings announcements, strategic contracts with government agencies, and technological breakthroughs in atomic clock stability. Our curated feed includes product launch details, R&D partnerships with academic institutions, and compliance updates for defense sector deliverables.
All content undergoes strict verification to ensure alignment with financial disclosure standards. The news archive serves as a historical reference for FEIM's evolving role in secure satellite networks and emerging quantum sensing applications. Bookmark this page for real-time updates on FEIM's contributions to critical timing infrastructure across terrestrial and orbital systems.
Frequency Electronics, Inc. (NASDAQ: FEIM) has announced its inaugural Quantum Sensing Summit, scheduled for October 10-11, 2024, in New York. This exclusive event aims to bring together 100-150 leading minds from government, research, and industry to focus on achieving production-ready quantum sensing technologies. The summit will showcase presentations from top university and government research institutions, highlighting breakthroughs in quantum sensing and critical enabling technologies.
FEI's CEO, Tom McClelland, emphasized the company's commitment to the sensing aspect of quantum technology and the summit's goal of catalyzing collaborations to drive next-generation quantum technologies. The event is positioned as a unique opportunity to influence policy and foster strategic partnerships in the quantum sensing field.
Frequency Electronics, Inc. (NASDAQ: FEIM) reported strong financial results for Q4 and FY 2024. Revenue for FY 2024 increased by 36% to $55.3 million, compared to $40.8 million in FY 2023. The company achieved an operating income of $5.0 million for FY 2024, a significant improvement from an operating loss of $4.7 million in FY 2023.
Net income for FY 2024 was $5.6 million or $0.59 per diluted share, compared to a net loss of $5.5 million or ($0.59) per diluted share in FY 2023. The company's backlog reached a historic high of $78 million at the end of FY 2024, up from $57 million in FY 2023. Additionally, FEI announced a special cash dividend of $1.00 per share, payable on August 29, 2024.
Frequency Electronics, Inc. (NASDAQ: FEIM) has declared a special cash dividend of $1.00 per share of common stock, payable on August 29, 2024, to stockholders of record as of August 8, 2024. The total dividend payment will be approximately $9.4 million. CEO Tom McClelland highlighted the company's improved profitability and cash generation, allowing for this dividend while maintaining investment capacity. FEI remains debt-free and focuses on sustained profitability. The company specializes in high-precision timing, frequency generation, and RF control products for space and terrestrial applications, serving commercial, government, and military systems.
Frequency Electronics (NASDAQ: FEIM) has announced its fiscal year 2024 financial results conference call, scheduled for Monday, July 22, 2024, at 4:30 PM Eastern Time. The call will be webcast by Issuer Direct and accessible via the company's website. Investors can also dial in using provided numbers and access codes.
Frequency Electronics is a leader in precision timing, frequency generation, and RF control products for space and terrestrial applications. The company's products are used in satellite payloads, government and military systems, and various commercial applications. With over 100 awards for excellence, Frequency Electronics continues to invest in research and development to expand its capabilities and markets.
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