Welcome to our dedicated page for Frequency Electronics news (Ticker: FEIM), a resource for investors and traders seeking the latest updates and insights on Frequency Electronics stock.
Frequency Electronics, Inc. (Symbol: FEIM) is a prominent player in the field of high-precision timing and frequency control products. The company is known for its expertise in designing, developing, and manufacturing these products for a diverse array of applications spanning space, air, sea, and terrestrial environments. With a keen focus on reliability and precision, Frequency Electronics caters to three principal markets: communication satellites (both commercial and U.S. Government-funded), terrestrial cellular telephone or other ground-based telecommunication stations, and components and systems for the U.S. military.
Operating through two key segments, FEI-NY and FEI-Zyfer, the company derives the majority of its revenues from the FEI-NY segment. This segment is primarily engaged in the production of precision time and frequency control products which are critical for the aforementioned markets. The FEI-Zyfer segment, although smaller, also plays a significant role in supporting the company's mission and strategic goals.
Frequency Electronics has been making strides in advancing its core technologies, as evidenced by recent program awards. CEO Tom McClelland emphasized the company's ongoing commitment to supporting U.S. Government secure communication systems, highlighting that FEI's investments in cutting-edge technologies ensure its status as an essential participant in critical government programs.
As of now, the company continues to push the envelope in the development of high-precision instruments to measure electricity. The financial health of the company remains robust, driven by strategic partnerships and an unwavering focus on innovation. The leadership team, including Dr. Thomas McClelland as President and CEO, and Steven Bernstein as CFO, is dedicated to steering the company towards a future of sustained growth and technological superiority.
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.
Frequency Electronics, Inc. (NASDAQ: FEIM) will host a conference call on March 11, 2021, at 4:30 PM Eastern Time to discuss its third-quarter results for fiscal year 2021, ending January 31, 2021. Investors can access the call via webcast on the company's website or by dialing 877-407-9205 for U.S. callers and 201-689-8054 for international participants. A replay will be available for one week post-call. Frequency Electronics specializes in high precision timing and frequency generation products for various applications, including military and commercial systems.
Frequency Electronics, Inc. (NASDAQ-FEIM) has secured a contract valued at approximately $17 million for its high-performance oscillators and microwave frequency generation units to be used in a key U.S. government satellite system. The contract spans four years and may be followed by a Phase 2 contract for additional units. CEO Stan Sloane expressed confidence in the company’s advanced technology and customer trust, highlighting its role in military satellite programs. Frequency Electronics is known for developing precision timing and frequency generation products for various applications.
Frequency Electronics, Inc. (FEIM) announced a contract award valued at approximately $4.5 million for its state-of-the-art digital Rubidium Atomic Clock. The CEO, Stan Sloane, expressed confidence in the product’s capabilities and the company's expertise in high-precision frequency and timing solutions. The new atomic clock design offers significant improvements in digital technology compared to existing models. FEIM's products serve various sectors, including space, government, and military applications.
Frequency Electronics (NASDAQ-FEIM) has secured a $3.9 million contract to provide precision oscillators for secure communication satellites serving the US Government. The contract spans approximately 2.5 years, highlighting FEI's expertise in high-stability frequency references. CEO Stan Sloane emphasized the significance of this award, showcasing the reliability of FEI's products in military applications. The company has a proven track record, having received over 100 awards for excellence in electronic assemblies for various defense and space programs.
Frequency Electronics, Inc. (NASDAQ-FEIM) reported a revenue increase for the second quarter and six months of fiscal 2021. Revenues reached $14.0 million and $26.9 million, up from $9.1 million and $21.6 million in the same periods last year. The company achieved a net income of $329,000 or $0.04 per share for the three months, compared to a net loss of $4.9 million or ($0.54) per share a year prior. Backlog increased to $42 million. The company's financial health improved despite legal expenses and a focus on operational continuity during COVID-19.
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