secwatch.observer — SEC 8-K summary
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Issuer:     FREQUENCY ELECTRONICS INC (FEIM)
CIK:        0000039020
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0001185185-23-000193
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39020/000118518523000193/0001185185-23-000193-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39020/000118518523000193/freqelec20230309_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-23-000193

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer