Frequency Electr Stock Price, News & Analysis

Frequency Electronics, Inc. (FEIM) announced a contract award for space-qualified precision oscillators worth approximately $5.3 million. This contract is an exercise of options on an existing agreement, with performance extending through October 2024. CEO Stan Sloane expressed satisfaction with the customer's decision, highlighting the contract's importance for integrating FEI products into critical government satellites. Frequency Electronics specializes in high-precision timing and frequency generation products, supporting various military and commercial applications.

Frequency Electronics (NASDAQ: FEIM) announced the award of a contract by the Office of Naval Research to develop the Pulsed Optically-Pumped Rubidium Atomic Frequency Standard (POPRAFS) on September 23, 2021. The contract has a total potential value of approximately $17.75M, with a base performance period of two years and options extending up to five years. This technology aims to improve the performance of atomic clocks, significantly enhancing accuracy for both government and commercial applications.

Frequency Electronics, Inc. (FEIM) reported approximately $13.0 million in revenues for Q1 FY2022, with an operating loss of $1.7 million, significantly higher compared to a $337,000 loss in Q1 FY2021. The net loss amounted to $1.6 million or ($0.17) per share, up from a net loss of $262,000 or ($0.03) per share a year prior. Revenue from satellite payloads increased by 1.4% year-over-year, while backlog decreased to $37 million. The CEO noted challenges from unusual legal expenses and COVID-related supply chain issues.

Frequency Electronics, Inc. (NASDAQ: FEIM) will host a conference call on September 13, 2021, at 4:30 PM ET to discuss Q1 fiscal year 2022 results for the period ending July 31, 2021. Investors can access the call via the company’s website or by phone at 877-407-9205. A replay will be available for a week post-call. Frequency Electronics is a leader in high precision timing and frequency generation products, serving various sectors including military and commercial applications, and has received over 100 awards for its contributions.

Frequency Electronics, Inc. (NASDAQ-FEIM) announced the development of a new family of pulsed laser Rubidium atomic clocks, promising improved performance for military, terrestrial, and commercial applications. Dr. Thomas McClelland, Chief Scientist, highlighted the resolution of key technical challenges, aiming for at least 10x better time stability. CEO Stan Sloane noted the project, initiated in 2016, is moving towards production, representing a multi-hundred million dollar market opportunity. This development positions FEIM as a key player in the atomic clock sector.

Frequency Electronics, Inc. (FEIM) reported a 31% increase in revenues for fiscal year 2021, totaling $54.3 million, up from $41.5 million in FY2020. For Q4 FY2021, revenues reached $15.6 million, a 53% increase year-over-year. The company posted a net income of $680,000 or $0.07 per diluted share, a significant improvement from a net loss of $10 million in FY2020. Operating losses narrowed to $958,000 from $10.9 million. FEIM ended the year with $20 million in cash and a $40 million backlog of contracts.

Frequency Electronics, Inc. (NASDAQ: FEIM) will hold a conference call on June 29, 2021, at 4:30 PM ET to discuss fiscal year 2021 results, which ended on April 30, 2021. The call will be accessible via webcast and phone for investors and analysts. A replay will be available for one week following the call. Frequency Electronics is a leader in high precision timing and frequency generation products for various applications, including military and commercial systems. The company prioritizes R&D to enhance its offerings.

Frequency Electronics, Inc. (NASDAQ-FEIM) announced a follow-on order for g-compensated Oven Controlled Quartz Oscillators (OCXO) valued at approximately $3M. This order is crucial for US Government communications systems on military platforms, with a contract period of performance lasting around 22 months. CEO Stanton Sloane expressed confidence in the technology and the commitment to support essential military operations. Frequency Electronics, a leader in high-precision timing and frequency generation, has a strong track record in defense and aerospace sectors.

Frequency Electronics reported fiscal 2021 Q3 revenues of $11.7 million, up from $9.6 million in Q3 2020. For nine months, revenues reached $38.6 million versus $31.3 million last year. The operating loss improved to $939,000 for Q3, down from $1.6 million in Q3 2020, with a nine-month operating loss of $1.1 million compared to $7.3 million last year. Net losses of $800,000 for Q3 and $733,000 year-to-date reflect significant improvement. The backlog rose to $41 million, with strong gains in satellite payload revenues.