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.
Summary not available.
Summary not available.
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.
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.
Frequency Electronics, Inc. (NASDAQ-FEIM) announces that Tom McClelland has been appointed as the permanent President and CEO, having served in an interim capacity since July 2022. With nearly 40 years at the company, he brings extensive expertise in precision timing and space applications. The Board of Directors emphasized his focus on increasing customer satisfaction, employee productivity, and shareholder value. McClelland noted improvements in the company’s financial performance, including a quarter-over-quarter revenue increase and a backlog of approximately $56 million, marking the highest level in eight years. These developments indicate a promising path towards sustained profitability.
Frequency Electronics, Inc. (FEIM) reports Q2 and H1 fiscal 2023 revenues of approximately $8.9 million and $17.2 million, down from $12.9 million and $25.9 million in the previous year. The operating loss increased to $2.3 million for Q2 and $5.4 million for H1. Net losses were ($0.25) per diluted share for Q2 and ($0.58) for H1. A special cash dividend of $1.00 per share is set for January 27, 2023. The backlog rose to $56 million, reflecting positive activity in satellite markets despite ongoing supply chain challenges.
Frequency Electronics, Inc. (NASDAQ-FEIM) has announced a special cash dividend of $1.00 per share, totaling approximately $9.3 million. This dividend is payable on January 27, 2023, to stockholders of record by January 6, 2023. Interim CEO Dr. Thomas McClelland stated that the company's robust balance sheet enables this payout while remaining debt-free. The company aims to maintain profitability and cash generation for future investments.
Frequency Electronics, Inc. (NASDAQ: FEIM) announced that it will delay its earnings release for Q2 fiscal 2023, ended October 31, 2022, due to errors found in its previous financial statements. The company will amend its disclosures concerning contract assets and liabilities. Preliminary results indicate revenues of approximately $9 million, down from $12.9 million year-over-year, and an operating loss of around $2.3 million. However, consolidated backlog reached approximately $56 million, an increase from $40 million in previous quarters. A conference call is scheduled for December 20, 2022.
Frequency Electronics (FEIM) reported Q1 fiscal 2023 revenues of $8.2 million, a decline from $13.0 million in Q1 fiscal 2022. The company experienced an operating loss of $3.1 million, worsening from a $1.7 million loss year-over-year. Net loss was $3.1 million or ($0.33) per diluted share, compared to a net loss of $1.6 million or ($0.17) per diluted share in the previous year. The company has implemented measures to reduce labor costs by 17% and expects improved efficiency. Backlog remains stable at approximately $40 million, and there are optimistic projections for revenue realization in FY2023.
Frequency Electronics, Inc. (NASDAQ: FEIM) will hold a conference call on September 13, 2022, at 4:30 PM ET to discuss its Q1 fiscal 2023 results, ending July 31, 2022. The call can be accessed online and through various dial-in options, with details provided in the press release. Frequency Electronics specializes in high precision timing and frequency generation products for various applications, including military and commercial sectors. The company is notable for its significant investment in R&D and has received over 100 awards for excellence in performance.
FAQ
What is the current stock price of Frequency Electr (FEIM)?
What is the market cap of Frequency Electr (FEIM)?
