FREQUENCY ELECTRONICS INC — fact timeline

FREQUENCY ELECTRONICS INC incurred revolving credit of $10,000,000 with JPMorgan Chase Bank, N.A. at SOFR plus 2.50% maturing June 12, 2029.

“revolving credit facility with JPMorgan Chase Bank, N.A., as the lender (the “Credit Agreement”). The Credit Agreement provides for a three-year revolving credit facility of $10,000,000, of which up to $5,000,000 is available for the issuance of letters of credit. The Credit Agreement provides that the Company may, at its option, increase the aggregate amount of”

FREQUENCY ELECTRONICS INC entered into Credit Agreement with JPMorgan Chase Bank, N.A. valued at $10,000,000 (effective 2026-06-12).

“On June 12, 2026, Frequency Electronics, Inc. (the “Company”) entered into a senior, secured revolving credit facility with JPMorgan Chase Bank, N.A., as the lender (the “Credit Agreement”).”

FREQUENCY ELECTRONICS INC reported financial results for the third quarter and fiscal year 2026.

“On March 11, 2026, Frequency Electronics, Inc. (the "Company") issued a press release (the "Press Release") announcing its financial results for the quarter ended January 31, 2026.”

FREQUENCY ELECTRONICS INC reported three-month and nine-month periods of fiscal 2024, ended January 31, 2024 results: revenue approximately $13.7 million and $39.7 million, respectively, net income Net Income from operations for the three and nine months ended January 31, 2024 was $0.1 million or $0.01 per diluted sh, EPS $0.01 per diluted share and $3.0 million or $0.32 per diluted share, respectively.

“Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three-month and nine-month periods of fiscal 2024, ended January 31, 2024, of approximately $13.7 million and $39.7 million, respectively, compared to revenues of $10.6 million and $27.8 million, respectively, for the same periods of fiscal year 2023, ended January 31, 2023. Operating loss for the third quarter of fiscal year 2024 was $0.5 million compared to an operating income of $0.3 million for the same period of fiscal year 2023. Operating Income for the nine months ended January 31, 2024 was $2.5 million compared to an operating loss of $5.1 million for the nine months ended January 31, 2023. Net Income from operations for the three and nine months ended January 31, 2024 was $0.1 million or $0.01 per diluted share and $3.0 million or $0.32 per diluted share, respectively, compared to net losses from operations for the three and nine month ended January 31, 2023 of $0.3 million or ($0.”

FREQUENCY ELECTRONICS INC reported financial results for the quarter ended January 31, 2024.

“On March 14, 2024, Frequency Electronics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended January 31, 2024.”

FREQUENCY ELECTRONICS INC reported the three- and six-month periods of fiscal 2024, ended October 31, 2023 results: revenue approximately $13.6 million and $26.0 million, respectively, net income $0.8 million or $0.08 per diluted share and $2.9 million or $0.30 per diluted share, respectively, EPS $0.08 per diluted share and $0.30 per diluted share, respectively.

“Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three- and six-month periods of fiscal 2024, ended October 31, 2023, of approximately $13.6 million and $26.0 million, respectively, compared to revenues of $8.9 million and $17.2 million, respectively, for the same periods of fiscal year 2023, ended October 31, 2022.”

FREQUENCY ELECTRONICS INC shareholders approved Approval of the non-binding advisory vote on the compensation of the Company’s named executive officers at the 2023-10-05 meeting.

“Approval of the non-binding advisory vote on the compensation of the Company’s named executive officers: FOR AGAINST ABSTAIN BROKER NON-VOTES 5,264,256 287,760 9,509 1,314,082”

FREQUENCY ELECTRONICS INC shareholders approved Ratification of the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending April 30, 2024 at the 2023-10-05 meeting.

“Ratification of the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending April 30, 2024: FOR AGAINST ABSTAIN BROKER NON-VOTES 6,863,878 4,837 6,892 0”

FREQUENCY ELECTRONICS INC shareholders approved Election of the following four directors at the 2023-10-05 meeting.

“Election of the following four directors: DIRECTOR FOR WITHHELD BROKER NON-VOTES Jonathan Brolin 4,242,029 1,319,496 1,314,082 Lance Lord 3,831,509 1,730,016 1,314,082 Russell Sarachek 5,305,081 256,444 1,314,082 Richard Schwartz 3,427,744 2,133,781 1,314,082”

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.

“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”

FREQUENCY ELECTRONICS INC engaged Grant Thornton LLP as its auditor.

“(b) Appointment of New Independent Registered Public Accounting Firm On July 27, 2023, the Audit Committee approved the appointment of Grant Thornton LLP (“ Grant Thornton ”) as the Company’s new independent registered public accounting firm, effective upon dismissal of BDO.”

FREQUENCY ELECTRONICS INC dismissed BDO USA, P.A. as its auditor.

“The Company notified BDO on July 28, 2023 that it would be dismissed as the Company’s independent registered public accounting firm, effective immediately.”

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.

“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”

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.

“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”

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.

“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.”

Dr. Tom McClelland was appointed as President and Chief Executive Officer at FREQUENCY ELECTRONICS INC.

“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.”

FREQUENCY ELECTRONICS INC reported the six months ended October 31, 2022 results: revenue $17.2 million, net income ($0.58) per diluted share, EPS ($0.58) per diluted share.

“Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three- and six-month periods of fiscal 2023, ended October 31, 2022, of approximately $8.9 million and $17.2 million, respectively, compared to revenues of $12.9 million and $25.9 million, respectively, for the same periods of fiscal 2022, ended October 31, 2021. Operating loss for the second quarter of fiscal 2023 was $2.3 million compared to an operating profit of $303,000 for the same period of fiscal 2022. Operating loss for the six months ended October 31, 2022 was $5.4 million compared to an operating loss of $1.4 million for the six months ended October 31, 2021. Net loss from operations for the three and six months ended October 31, 2022 was $2.3 million or ($0.25) per diluted share and $5.4 million or ($0.58) per diluted share, respectively, compared to a net income of $497,000 or $0.05 per diluted share for the three months ended October 31, 2021 and a net loss of $1.1 million or”

FREQUENCY ELECTRONICS INC reported the three months ended October 31, 2022 results: revenue $8.9 million, net income ($0.25) per diluted share, EPS ($0.25) per diluted share.

“Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three- and six-month periods of fiscal 2023, ended October 31, 2022, of approximately $8.9 million and $17.2 million, respectively, compared to revenues of $12.9 million and $25.9 million, respectively, for the same periods of fiscal 2022, ended October 31, 2021. Operating loss for the second quarter of fiscal 2023 was $2.3 million compared to an operating profit of $303,000 for the same period of fiscal 2022. Operating loss for the six months ended October 31, 2022 was $5.4 million compared to an operating loss of $1.4 million for the six months ended October 31, 2021. Net loss from operations for the three and six months ended October 31, 2022 was $2.3 million or ($0.25) per diluted share and $5.4 million or ($0.58) per diluted share, respectively, compared to a net income of $497,000 or $0.05 per diluted share for the three months ended October 31, 2021 and a net loss of $1.1 million or”

FREQUENCY ELECTRONICS INC reported the second quarter of fiscal 2023, ended October 31, 2022 results: revenue approximately $9.0 million, net income a net loss of approximately $2.3 million.

“The Company expects to report the following for the three months ended October 31, 2022: ● revenues of approximately $9.0 million, as compared to revenues of approximately $12.9 million for the three months ended October 31, 2021, and revenues of approximately $8.2 million for the three months ended July 31, 2022; ● operating loss of approximately $2.3 million, as compared to operating income of approximately $303,000 for the three months ended October 31, 2021, and operating loss of approximately $3.1 million for the three months ended July 31, 2022; and ● a net loss of approximately $2.3 million, as compared to net income of approximately $497,000 for the three months ended October 31, 2021, and a net loss of approximately $3.1 million for the three months ended July 31, 2022.”

FREQUENCY ELECTRONICS INC reported that prior financial statements should not be relied upon.

“On December 14, 2022, management of Frequency Electronics, Inc. (the “Company”) concluded, and the Audit Committee (the “Audit Committee”) of the Company’s Board of Directors (the “Board”) concurred, that the Company’s previously issued audited consolidated financial statements for the years ended April 30, 2022 and April 30, 2021, which were included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2022, which was originally filed with the Securities and Exchange Commission (the “SEC”) on July 14, 2022 (the “Prior Filing”), should no longer be relied upon due to a material misstatement.”

Thomas McClelland was appointed as Interim President and Chief Executive Officer at FREQUENCY ELECTRONICS INC.

“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.”

Stanton Sloane resigned as President and Chief Executive Officer at FREQUENCY ELECTRONICS INC.

“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.”