Frequency Electronics reports Q1 FY2024 net income of $2.0M, reversing prior-year loss

FREQUENCY ELECTRONICS INC

2025-Q1 EPS reported $0.22 revenue$12,408,000

Revenue $12.4M (+51% YoY); operating income $2.1M vs -$3.1M loss.
Net income $2.0M ($0.22 diluted) vs net loss $3.1M (-$0.33) YoY.
Backlog $51.8M, up from $39.7M a year ago; CEO expects further bookings growth.
Non-space U.S. Gov/DOD revenue $6.9M (55% of total); satellite payload $4.9M (39%).
Net cash used in ops improved to $2.8M from $3.6M YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FREQUENCY ELECTRONICS INC reported the first quarter ended July 31, 2023 results: revenue approximately $12.4 million, net income Net Income from operations was $2.0 million or $0.22 per diluted share, EPS $0.22 per diluted share.

Period: the first quarter ended July 31, 2023
Revenue: approximately $12.4 million
Net income: Net Income from operations was $2.0 million or $0.22 per diluted share
EPS: $0.22 per diluted share
Result: reported results

Exact text from the filing

is reporting revenues for the first quarter ended July 31, 2023, of approximately $12.4 million, compared to revenues of $8.2 million, for the first quarter of fiscal year 2023, ended July 31, 2022. Operating income for the first quarter of fiscal year 2024 was $2.1 million compared to an operating loss of $3.1 million for the same period of fiscal year 2023. Net Income from operations was $2.0 million or $0.22 per diluted share compared to a net loss from operations of $3.1 million or ($0.33) per diluted share for the first quarter of fiscal year 2023

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Source: SEC EDGAR

accession 0001185185-23-000971

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