Frequency Electronics reports Q3 revenue $12.3M, net loss $0.08 per share

FREQUENCY ELECTRONICS INC

2022-Q3 EPS reported -$0.20 revenue$38,136,000

Revenue $12.3M, up 5% YoY; operating loss $721K vs $939K loss in prior-year quarter.
Net loss $735K ($0.08 diluted EPS) for Q3; nine-month net loss $1.8M ($0.20 per share).
Backlog $41.6M; bookings up 21% YoY; book-to-bill ratio 1.27 for the quarter.
Cash and marketable securities $22.2M, debt-free; operating cash flow $4M YTD.
CEO cites COVID absences and Zyfer order delays; transitioning manufacturing to NY for cost reduction.

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