8-K
filed December 20, 2022, 6:59 PM ET
ticker FEIM
CIK 0000039020
earnings
confidence high
sentiment negative
materiality 0.75
Frequency Electronics Q2 FY2023 revenue down 31% to $8.9M; net loss $0.25 per share; declares special dividend $1.00
FREQUENCY ELECTRONICS INC
2023-Q2 EPS reported
-$0.58
revenue$17,153,000
- Q2 revenue $8.9M (down 31% YoY from $12.9M); net loss $2.3M ($0.25 diluted) vs net income $0.05 per share in prior year.
- Six-month revenue $17.2M (down 34% YoY); net loss $5.4M ($0.58 diluted) vs loss $1.1M ($0.12) prior year.
- Backlog $56M at Oct 31, up 40% from $40M at April 30; book-to-bill ratio 2.8.
- Special cash dividend of $1.00/share payable Jan 27, 2023 to holders of record Jan 6, 2023; total ~$9.3M.
- Company remains debt-free; optimistic about future growth due to satellite market improvements.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
FREQUENCY ELECTRONICS INC reported the six months ended October 31, 2022 results: revenue $17.2 million, net income ($0.58) per diluted share, EPS ($0.58) per diluted share.
- Period
- the six months ended October 31, 2022
- Revenue
- $17.2 million
- Net income
- ($0.58) per diluted share
- EPS
- ($0.58) per diluted share
- Result
- reported results
Exact text from the filing
Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three- and six-month periods of fiscal 2023, ended October 31, 2022, of approximately $8.9 million and $17.2 million, respectively, compared to revenues of $12.9 million and $25.9 million, respectively, for the same periods of fiscal 2022, ended October 31, 2021. Operating loss for the second quarter of fiscal 2023 was $2.3 million compared to an operating profit of $303,000 for the same period of fiscal 2022. Operating loss for the six months ended October 31, 2022 was $5.4 million compared to an operating loss of $1.4 million for the six months ended October 31, 2021. Net loss from operations for the three and six months ended October 31, 2022 was $2.3 million or ($0.25) per diluted share and $5.4 million or ($0.58) per diluted share, respectively, compared to a net income of $497,000 or $0.05 per diluted share for the three months ended October 31, 2021 and a net loss of $1.1 million or
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
FREQUENCY ELECTRONICS INC reported the three months ended October 31, 2022 results: revenue $8.9 million, net income ($0.25) per diluted share, EPS ($0.25) per diluted share.
- Period
- the three months ended October 31, 2022
- Revenue
- $8.9 million
- Net income
- ($0.25) per diluted share
- EPS
- ($0.25) per diluted share
- Result
- reported results
Exact text from the filing
Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three- and six-month periods of fiscal 2023, ended October 31, 2022, of approximately $8.9 million and $17.2 million, respectively, compared to revenues of $12.9 million and $25.9 million, respectively, for the same periods of fiscal 2022, ended October 31, 2021. Operating loss for the second quarter of fiscal 2023 was $2.3 million compared to an operating profit of $303,000 for the same period of fiscal 2022. Operating loss for the six months ended October 31, 2022 was $5.4 million compared to an operating loss of $1.4 million for the six months ended October 31, 2021. Net loss from operations for the three and six months ended October 31, 2022 was $2.3 million or ($0.25) per diluted share and $5.4 million or ($0.58) per diluted share, respectively, compared to a net income of $497,000 or $0.05 per diluted share for the three months ended October 31, 2021 and a net loss of $1.1 million or
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.