Frequency Electronics Q3 rev down 13% YoY but posts operating profit; backlog rises to $54M

FREQUENCY ELECTRONICS INC

Q3 revenues $10.6M vs $12.2M YoY; operating income $325K vs loss $721K.
Net loss $316K ($0.03/sh) vs $735K ($0.08) YoY; 9-month net loss $5.7M ($0.62).
Backlog grew 35% to $54M from $40M at Apr. 2022; cash from ops $1.9M.
Sequential improvement: Q3 rev +18.7%, gross margin 32.6% vs 3.9% prior qtr.
Paid special $1.00/sh dividend ($9.4M) Jan 26; named Tom McClelland permanent CEO.

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 three- and nine-month periods of fiscal 2023, ended January 31, 2023 results: revenue approximately $10.6 million and $27.8 million, respectively, net income Net loss from operations for the three and nine months ended January 31, 2023 was $316,000 or ($0.03) per diluted share, EPS ($0.03) per diluted share.

Period: the three- and nine-month periods of fiscal 2023, ended January 31, 2023
Revenue: approximately $10.6 million and $27.8 million, respectively
Net income: Net loss from operations for the three and nine months ended January 31, 2023 was $316,000 or ($0.03) per diluted share
EPS: ($0.03) 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 nine-month periods of fiscal 2023, ended January 31, 2023, of approximately $10.6 million and $27.8 million, respectively, compared to revenues of $12.2 million and $38.1 million, respectively, for the same periods of fiscal 2022, ended January 31, 2022.

View on SEC.gov

309 earnings releases filed in the last 30 days. Browse all earnings releases →

FREQUENCY ELECTRONICS INC filing history →

Source: SEC EDGAR

accession 0001185185-23-000193

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.