Frequency Electronics Q2 FY2022 net income $0.5M; revenue down 8% YoY to $12.9M

FREQUENCY ELECTRONICS INC

2022-Q2 EPS reported -$0.12 revenue$25,890,000

Net income of $497K ($0.05 diluted EPS) vs. $329K ($0.04) for Q2 FY2021.
Revenue $12.9M, down from $14.0M a year ago; six-month revenue $25.9M vs. $26.9M.
Operating profit improved to $303K from $219K; six-month operating loss $1.4M.
Cash and marketable securities $20.6M, no debt; backlog $38M vs. $40M at April 30.
CEO cites R&D investments in atomic clocks and POPRAFS contract from Office of Naval Research.

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