Frequency Electronics reports Q4 net income $246k; FY23 revenue $40.8M, backlog at decade high

FREQUENCY ELECTRONICS INC

Q4 FY23 revenue $13.0M, operating income $392k vs. loss of $5.9M YoY; net income $0.03/diluted share.
Full-year FY23 revenue $40.8M vs. $48.3M prior year; net loss $5.5M ($0.59/diluted share).
Second-half FY23 operating income $717k vs. first-half loss of $5.4M; H2 revenue $23.6M, up 38% from H1.
Backlog at April 30, 2023: ~$56M, highest in over 10 years (up from $40M year earlier).
Cash and equivalents $12.0M, debt-free; CEO McClelland cites cost-cutting and growth in satellite markets.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

FREQUENCY ELECTRONICS INC reported the year ended April 30, 2023 results: revenue approximately $40.8 million, net income net loss...of $5.5 million or ($0.59) per diluted share, EPS ($0.59) per diluted share.

Period: the year ended April 30, 2023
Revenue: approximately $40.8 million
Net income: net loss...of $5.5 million or ($0.59) per diluted share
EPS: ($0.59) per diluted share
Result: reported results

Exact text from the filing

or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three- and twelve-month periods of fiscal year 2023, ended April 30, 2023, of approximately $13.0 million and $40.8 million, respectively, compared to revenues of $10.2 million and $48.3 million, respectively, for the same periods of fiscal year 2022, ended April 30, 2022. Operating income for the

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

FREQUENCY ELECTRONICS INC reported the three months ended April 30, 2023 results: revenue approximately $13.0 million, net income $246,000 or $0.03 per diluted share, EPS $0.03 per diluted share.

Period: the three months ended April 30, 2023
Revenue: approximately $13.0 million
Net income: $246,000 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 twelve-month periods of fiscal year 2023, ended April 30, 2023, of approximately $13.0 million and $40.8 million, respectively, compared to revenues of $10.2 million and $48.3 million, respectively, for the same periods of fiscal year 2022, ended April 30, 2022

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Source: SEC EDGAR

accession 0001185185-23-000719

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