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. (NASDAQ: FEIM) is a manufacturer of high precision timing, frequency generation and RF control products for space and terrestrial applications, and its news flow reflects this focus on space, defense and secure communications. Company announcements frequently highlight contracts, program awards and technical developments tied to satellite payloads and military systems.
Investors following FEIM news can expect updates on contract wins and expansions, such as awards for precision time and frequency systems for geostationary environmental satellite programs and contracts through its FEI-Zyfer subsidiary in core Assured-PNT business areas. These include secure communications systems and time, frequency and synchronization distribution systems that support airborne avionics equipment and other defense applications.
News items also cover defense and missile programs, including FEI-Zyfer contracts supporting the Patriot missile system with autonomous syntonization and synchronization references that incorporate quartz crystal oscillator technology and rubidium atomic clocks from the parent company. The company’s releases describe how these systems are designed to maintain performance under demanding field conditions and to meet stringent accuracy and stability requirements.
Frequency Electronics’ updates include financial results and capital allocation decisions, such as quarterly and annual earnings releases and announcements of share repurchase authorizations approved by the Board of Directors. In addition, the company reports on its research and development and quantum sensing initiatives, including the introduction of its TURbO compact rubidium atomic clock and the organization of the Quantum Sensing Summit in New York City, which brings together stakeholders from government, industry and research.
For investors and observers, the FEIM news page provides a centralized view of these developments, from new contracts and program participation to financial performance and technology-focused events, offering context on how the company’s timing and RF control technologies are being deployed across space, defense and communications markets.
Frequency Electronics (NASDAQ: FEIM) has secured an $18.98 million contract for its precision oscillators, destined for a national security satellite program. These oscillators will serve as the primary frequency reference for the communications payload and will be delivered over a six-year period. CEO Stan Sloane emphasized the significance of this contract, which arises from the company's reliable performance and commitment to its customers, contributing to the support of military efforts globally.
Frequency Electronics, Inc. (NASDAQ-FEIM) reported fiscal year 2020 revenues of $41.5 million, down from $49.5 million in 2019. The operating loss widened to $10.9 million from $2.8 million the previous year, with a net loss of $10.0 million, or ($1.10) per diluted share, compared to ($0.28) in 2019. The decline was attributed to delays in contract awards and supply chain issues due to COVID-19. Despite this setback, the company experienced increased business activity, with backlog ending at $36 million and ongoing negotiations for significant contracts.
Frequency Electronics, Inc. (NASDAQ: FEIM) will host a conference call to discuss its fiscal year 2020 results on July 16, 2020, at 4:30 PM ET. Investors can access the call via a web link or by dialing in. A replay will be available for one week post-call. The company specializes in high-precision timing, frequency generation, and RF control products utilized in various government and commercial applications, including satellite systems and electronic warfare. Frequency Electronics is recognized for its innovation with over 100 awards in excellence.
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.