Highest-materiality recent filing
Frequency Electronics underwriters exercise over-allotment option, raising ~$14.1M
Underwriters exercised option in full for 260,869 shares on Aug 3, purchased Aug 5, 2026.
Frequency Electronics completes $62.5M common stock offering at $57.50/share
Company sold 1,086,957 shares; selling stockholders sold 652,174 shares.
Frequency Electronics reports Q4 loss of $0.50/share; backlog hits record $111M, up 59% YoY
Q4 revenue $15.4M (down 23% YoY); FY revenue $63.2M (down 9% YoY).
Frequency Electronics enters $10M revolving credit facility with JPMorgan Chase
Three-year $10M revolving credit facility with JPMorgan Chase, maturing June 12, 2029.
Frequency Electronics Q3 net income drops 90% YoY to $1.6M; backlog record $83M
Revenue $16.9M (down 11% YoY from $18.9M); net income $1.6M ($0.16 diluted EPS) vs $15.4M ($1.60) last year.
FEI Q2 revenue up 8% YoY to $17.1M; net income $0.18/diluted vs $0.28; backlog record $81.7M
Q2 revenue $17.1M (vs $15.8M); operating income $1.7M (vs $2.6M); net income $1.8M or $0.18/diluted.
Frequency Electronics stockholders elect directors and ratify auditor at annual meeting
All five director nominees elected: Brolin (5,362,023 for), Lord (4,827,742), Sarachek (5,395,543), Schwartz (5,330,438), McClelland (5,395,575).
Frequency Electronics Q1 revenue $13.8M, EPS $0.07, announces $20M buyback
Revenue of $13.8M, down from $15.1M YoY; operating income fell to $0.4M from $2.4M.
Frequency Electronics Q4 revenue hits 25-year record $20M; FY net income $23.8M vs $5.6M
Q4 revenue $20.0M (record in 25 years), operating income $3.3M, net income $3.3M ($0.34 diluted EPS).
Frequency Electronics Q3 revenue $18.9M, net income $15.4M ($1.60 EPS) vs $0.1M YoY
Revenue $18.9M for Q3 FY2025, up from $13.7M YoY; operating income $3.5M vs loss $0.5M.
Frequency Electronics Q2 FY2025 revenue $15.8M, net income $2.7M, EPS $0.28
Revenue for Q2 FY2025 was $15.8M, up from $13.6M in the same period last year.
Frequency Electronics appoints CEO Dr. Thomas McClelland to Board of Directors
Board expanded from 4 to 5 members; McClelland appointed effective December 4, 2024.
Stockholders approve Frequency Electronics Stock Award Plan reserving 738,916 shares
Plan replaces the 2005 Stock Award Plan; 738,916 shares authorized (700,000 new + 38,916 from prior plan).
Revenue for FY2024 was $55.3 million, up 36% from $40.8 million in FY2023.
Revenue $13.7M (Q3) +29% YoY; 9-month revenue $39.7M vs $27.8M.
Q2 revenue $13.6M (+53% YoY); operating income $0.9M vs loss $2.3M; diluted EPS $0.08 vs loss $0.25.
Directors elected: Brolin (4.24M for), Lord (3.83M), Sarachek (5.31M), Schwartz (3.43M); each term 1 year.
Frequency Electronics reports Q1 FY2024 net income of $2.0M, reversing prior-year loss
Revenue $12.4M (+51% YoY); operating income $2.1M vs -$3.1M loss.
Frequency Electronics dismisses BDO, appoints Grant Thornton as auditor
Audit Committee chose not to renew BDO engagement; dismissal effective July 27, 2023.
Frequency Electronics reports Q4 net income $246k; FY23 revenue $40.8M, backlog at decade high
Q4 FY23 revenue $13.0M, operating income $392k vs. loss of $5.9M YoY; net income $0.03/diluted share.
Frequency Electronics Q3 rev down 13% YoY but posts operating profit; backlog rises to $54M
Q3 revenues $10.6M vs $12.2M YoY; operating income $325K vs loss $721K.
Frequency Electronics appoints Dr. Tom McClelland as permanent CEO; backlog $56M
Tom McClelland, interim CEO since July 2022, named permanent President and CEO; he holds a PhD in physics and top U.S. security clearance.
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.
Frequency Electronics restates FY2022/2021 financials; reports preliminary Q2 loss of $2.3M
Non-reliance on FY2022 and FY2021 audited financials due to missing note and calculation errors in contract assets/liabilities; adjustments up to $2.9M.
All four director nominees elected: Brolin, Schwartz, Sarachek, Lord; broker non-votes ~1.4M each.
Frequency Electronics Q1 revenue $8.2M (down 37% YoY); net loss per share $0.33
Revenue of $8.2M, down from $13.0M in Q1 FY2022; satellite payload revenue fell to $3.5M (42% of total) from $6.7M (52%).
CEO Stanton Sloane resigns; FY2022 revenue down 11%, net loss $0.93 per share
CEO Dr. Stanton Sloane resigned effective July 8, 2022; Dr. Thomas McClelland appointed Interim President and CEO.
Frequency Electronics reports Q3 revenue $12.3M, net loss $0.08 per share
Revenue $12.3M, up 5% YoY; operating loss $721K vs $939K loss in prior-year quarter.
Frequency Electronics Q2 FY2022 net income $0.5M; revenue down 8% YoY to $12.9M
Net income of $497K ($0.05 diluted EPS) vs. $329K ($0.04) for Q2 FY2021.
80% of shares (7,339,936) represented at October 6, 2021 annual meeting.
Frequency Electronics Q1 FY2022 net loss widens to $1.6M ($0.17/share) vs $262K loss a year ago
Revenue $13.0M, down slightly from $13.1M in Q1 FY2021.
Frequency Electronics settles litigation with former Chief Scientist for $6M
Agreed to pay Martin B. Bloch $6M by Sept 24, 2021, to settle all claims from his termination and deferred compensation arbitration.
On January 17, 2023, the Board of Directors (the “Board”) of Frequency Electronics, Inc. (the “Company”) appointed Dr. Tom McClelland as the Company’s President and Chief Executive Officer.
The Board of Directors of the Company appointed Dr. Thomas McClelland to serve as the Company’s Interim President and Chief Executive Officer, in addition to his existing positions and responsibilities with the Company, effective July 8, 2022.
On July 8, 2022, Dr. Stanton Sloane and the Company mutually agreed that Dr. Sloane would resign as President and Chief Executive Officer and as a member of the Board of Directors of the Company, effective immediately.
Max materiality 0.90 · Median 0.65 · Most common event earnings