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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 (NASDAQ:FEIM) has appointed its current CEO, Dr. Thomas McClelland, to the Company's Board of Directors, effective immediately. McClelland, who has been with FEI for 40 years, served as Interim President and CEO from July 2022 to January 2023 before becoming permanent President and CEO. As the company's former Chief Scientist, he led research efforts for over 20 years and is recognized as a leading expert in precision timing and space applications.
Board Chair General Lance W. Lord highlighted McClelland's successful leadership and emphasized the strategic importance of his expertise at the board level, particularly for advancing opportunities in quantum sensing, small-satellite programs, and navigation technologies. McClelland expressed commitment to continuing FEI's growth trajectory in revenue, profitability, and cash generation while investing in next-generation programs.
Frequency Electronics, Inc. (NASDAQ: FEIM) reported strong financial results for Q1 FY2025. Revenue increased by 22% to $15.1 million, compared to $12.4 million in Q1 FY2024. Operating income rose 15% to $2.4 million, with net income of $0.25 per diluted share, up from $0.22 in the previous year. The company's backlog stands at a historically high $70 million, slightly down from $78 million at FY2024 end but substantially higher than previous years. Satellite payload revenues grew significantly, accounting for 55% of total revenue. FEI declared a special cash dividend of $1.00 per share, totaling approximately $9.6 million.
Frequency Electronics (NASDAQ: FEIM) has announced its first quarter fiscal 2025 financial results conference call, scheduled for Tuesday, September 10, 2024, at 4:30 PM ET. The call will be webcast and accessible via the company's website. Investors can also dial in using provided numbers and access codes.
FEI is a leader in high-precision timing, frequency generation, and RF control products for space and terrestrial applications. The company's products are used in satellite payloads, military systems, GPS, secure communications, and various network technologies. FEI has received over 100 awards for its contributions to space and DOD programs and continues to invest in research and development to expand its capabilities and markets.
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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