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 (NASDAQ: FEIM) will hold a conference call on December 10, 2020, at 4:30 PM ET to discuss its second-quarter results for fiscal year 2021, which ended October 31, 2020. The call will be accessible via webcast and by phone for investors and analysts. A replay of the call will be available for one week post-event. Frequency Electronics specializes in high-precision timing, frequency generation, and RF control products, supporting various applications including satellite and military systems, and has received numerous awards for its contributions to the industry.
Frequency Electronics, Inc. (NASDAQ-FEIM) has secured a contract valued at approximately $5.2 million for precision Voltage Controlled Quartz Crystal Oscillators (VCXOs). This contract is a continuation of a previously announced award in September 2019, highlighting the company's role in providing essential timing components for US Government satellites.
CEO Stan Sloane expressed confidence in the ongoing demand for these critical components, projecting further orders in the future. FEI maintains a strong legacy in supporting key US Government programs.
Frequency Electronics, Inc. (NASDAQ-FEIM) has secured a $2.9 million contract for precision oscillators to support a significant US military program. These oscillators are vital for military communications on various airborne platforms, with a contract duration of approximately one year. CEO Stan Sloane expressed satisfaction regarding this award, noting its importance in supporting military communication systems and emphasizing the company's superior technology and proven track record.
Frequency Electronics, Inc. (NASDAQ-FEIM) reported Q1 fiscal 2021 revenues of $13.0 million, up from $12.6 million in Q1 fiscal 2020. The operating loss narrowed to $337,000 compared to $780,000 the previous year. Net loss improved to $262,000 or ($0.03) per diluted share versus ($0.07) in Q1 fiscal 2020. Revenue from satellite payloads surged to $6.7 million (51% of total revenues). The company maintained positive cash flow and a backlog of $38 million as of July 31, 2020.
Frequency Electronics, Inc. (NASDAQ: FEIM) will hold a conference call on September 10, 2020, at 4:30 PM ET to discuss its fiscal Q1 2021 results, which ended July 31, 2020. The call will be accessible via webcast on Frequency's Investor Relations website and also through a telephone dial-in option. A replay of the call will be available for one week post-event. Frequency Electronics specializes in high precision timing and RF control products used in various applications including military and commercial systems. The company has received numerous awards for excellence in electronic assemblies.
Frequency Electronics, Inc. (FEIM) announced a $5.0 million contract for precision oscillators to be utilized in US military platforms, reinforcing its strong presence in the defense sector. This contract follows several prior agreements for similar oscillators and is set to last approximately two years. CEO Stan Sloane highlighted the company’s reputation for delivering high-performance components in dynamic environments.
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.
FAQ
What is the current stock price of Frequency Electronics (FEIM)?
What is the market cap of Frequency Electronics (FEIM)?
What does Frequency Electronics, Inc. do?
What are the main market segments for Frequency Electronics, Inc.?
Which segment generates the most revenue for Frequency Electronics, Inc.?
Who are the key executives at Frequency Electronics, Inc.?
What is the significance of the recent program awards mentioned?
What kind of products does the FEI-NY segment focus on?
How does Frequency Electronics, Inc. support the U.S. military?
What are the recent achievements of Frequency Electronics, Inc.?
Why is Frequency Electronics, Inc. important in the communication satellite market?
What does FEI-Zyfer segment specialize in?
