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Frequency Electronics, Inc. (FEIM)

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11.37+0.11 (+0.96%)
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Neutralpattern detected
Previous Close11.26
Open11.32
Bid11.26 x 900
Ask11.43 x 1400
Day's Range11.31 - 11.37
52 Week Range5.95 - 12.19
Volume1,347
Avg. Volume12,588
Market Cap104.335M
Beta (5Y Monthly)0.66
PE Ratio (TTM)N/A
EPS (TTM)-0.49
Earnings DateDec 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateDec 20, 2012
1y Target EstN/A
  • What Is The Ownership Structure Like For Frequency Electronics, Inc. (NASDAQ:FEIM)?
    Simply Wall St.

    What Is The Ownership Structure Like For Frequency Electronics, Inc. (NASDAQ:FEIM)?

    A look at the shareholders of Frequency Electronics, Inc. ( NASDAQ:FEIM ) can tell us which group is most powerful...

  • GlobeNewswire

    Frequency Electronics, Inc. Announces Second Quarter Fiscal Year 2021 Results

    MITCHEL FIELD, N.Y., Dec. 10, 2020 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three and six month periods of fiscal 2021, ended October 31, 2020, of $14.0 million and $26.9 million, respectively, compared to revenues of $9.1 million and $21.6 million, respectively, for the same periods of fiscal 2020, ended October 31, 2019. Operating profit for the second quarter of fiscal 2021 was $219,000 compared to an operating loss of $4.9 million for the same period of fiscal 2020. Operating loss was $119,000 for the six months ended October 31, 2020 compared to an operating loss of $5.7 million for the six months ended October 31, 2019. Net income for the three and six months ended October 31, 2020 was $329,000 or $0.04 per diluted share and $67,000 or $0.01 per diluted share, respectively, compared to net losses of $4.9 million or ($0.54) per share and $5.5 million or ($0.61) per share, respectively, for the same periods of fiscal 2020. FEI CEO Stan Sloane commented, “I am very pleased with our results this quarter. We saw revenues increase to almost $14 million, about a $1 million increase from first quarter, and a 54% increase from the second quarter of fiscal year 2020. Despite significant legal expenses this year, we generated net income for the quarter of $329,000 a substantial improvement from last quarter and Q2 of the prior year. Further, as we completed the problem contracts we described in previous quarters, we also saw a return to improved gross margins, which were 38% in the current quarter as compared to 32% last quarter and negative 13% a year ago. Backlog was up to $42 million, a $6 million increase from the end of fiscal year 2020, a reflection of all the new business opportunities we have talked about in prior calls. We also generated $2 million of cash from operations for the year. We have hired engineering and manufacturing staff in order to address the increased backlog and have maintained full operations through the quarter while closely monitoring COVID-19 developments in order to be prepared for possible impacts to our workforce or in our supply chain. All in all, a good quarter I am pleased to report.”Fiscal Year 2021 Selected Financial Metrics and Other Items * For the six months ended October 31, 2020, revenues from satellite payloads were approximately $14.2 million, or 53%, of consolidated revenues compared to $9.4 million, or 44%, for the prior year. For the three months ended October 31, 2020, revenues from satellite payloads were approximately $7.6 million, or 54%, of consolidated revenues compared to $5.5 million, or 61%, for the prior year. * For the six months ended October 31, 2020, revenues for non-space U.S. Government/DOD customers were $10.9 million, or 40%, of consolidated revenues compared to $9.0 million, or 42%, for the prior year. For the three months, ended October 31, 2020, revenues for non-space U.S. Government/DOD customers were $5.5 million, or 39%, of consolidated revenues compared to $2.3 million, or 25%, for the prior year. * For the six months ended October 31, 2020, revenues from other commercial and industrial sales accounted for approximately $1.9 million, or 7%, of consolidated revenues compared to approximately $3.2 million, or 15%, for the prior year. For the three months ended October 31, 2020, revenues from other commercial and industrial sales accounted for approximately $894,000, or 6% of consolidated revenues compared to approximately $1.3 million, or 14%, for the prior year. * Net cash provided by operating activities for the six months ended October 31, 2020 was $2.0 million compared to $180,000 in the comparable prior fiscal 2020 period. * Backlog at October 31, 2020 was $42 million compared to $36 million at April 30, 2020. Investor Conference CallAs previously announced, the Company will hold a conference call to discuss these results on Thursday, December 10, 2020, at 4:30 PM Eastern Time. Investors and analysts may access the call by dialing 1-877-407-9205. International callers may dial 1-201-689-8054. Ask for the Frequency Electronics conference call.  The archived call may be accessed by calling 1-877-481-4010 (domestic), or 1-919-882-2331 (international), for one week following the call. Subsequent to that, the call can be accessed via a link available on the company’s website through March 10, 2021.  About Frequency ElectronicsFrequency Electronics, Inc. is a world leader in the design, development and manufacture of high precision timing, frequency generation and RF control products for space and terrestrial applications. Frequency’s products are used in satellite payloads and in other commercial, government and military systems including C4ISR and electronic warfare, missiles, UAVs, aircraft, GPS, secure communications, energy exploration and wireline and wireless networks. Frequency has received over 100 awards of excellence for achievements in providing high performance electronic assemblies for over 150 space and DOD programs. The Company invests significant resources in research and development to expand its capabilities and markets.Frequency’s Mission Statement: “Our mission is to provide precision time and low phase noise frequency generation systems from 1 Hz to 50 GHz, for space and other challenging environments.”Subsidiaries and Affiliates: FEI-Zyfer provides GPS and secure timing ("SAASM") capabilities for critical military and commercial applications; FEI-Elcom Tech provides Electronic Warfare (“EW”) sub-systems and state-of-the-art RF microwave products. Additional information is available on the Company’s website: www.frequencyelectronics.comContact information: Stanton Sloane, President & Chief Executive Officer; Steven Bernstein, Chief Financial Officer;    TELEPHONE: (516) 794-4500 ext.5000      WEBSITE:  www.freqelec.com Frequency Electronics, Inc. and Subsidiaries Condensed Consolidated Statements of Operations  Three Months Ended October 31, (unaudited)   Six Months Ended October 31, (unaudited)     2020   2019   2020  2019  Revenues $13,990  $9,087   $26,940  $21,641  Cost of Revenues  8,668   10,269    17,530   18,870  Gross Margin  5,322   (1,182)   9,410   2,771  Selling and Administrative  4,124   2,290    7,352   4,743  Research and Development  979   1,450    2,177   3,731  Operating Income Loss  219   (4,922)   (119)  (5,703) Interest and Other, Net  127   22    211   232  Income (Loss) before Income Taxes  346   (4,900)   92   (5,471) Income Tax Benefit  17   9    25   29  Net (Loss) Income $329  $(4,909)  $67  $(5,500)                    Net Income (Loss) per share:                  Basic and diluted (loss) earnings per share $0.04  $(0.54)  $0.01  $(0.61)                    Average Shares Outstanding                  Basic  9,170   9,072    9,154   9,037  Diluted  9,236   9,072    9,206   9,037           Frequency Electronics, Inc. and Subsidiaries Condensed Consolidated Balance Sheets October 31, 2020April 30, 2020  (unaudited)   (in thousands) ASSETS   Cash & Marketable Securities$13,602 $14,378 Accounts Receivable 10,298  4,392 Costs and Estimated Earnings in Excess of Billings, net 3,201  6,953 Inventories, net 21,028  22,958 Other Current Assets 2,793  2,554 Property, Plant & Equipment, net 10,511  11,267 Other Assets      17,951       17,910 Right-of-Use Assets – Leases 10,235  10,864  $ 89,619  $91,276 LIABILITIES AND STOCKHOLDERS’ EQUITYLease Liability - current$     1,612 $    1,869  Current Liabilities    9,631  11,119 Other Long-term Obligations 14,783  14,608 Lease Liability – non-current 8,937  9,444 Stockholders’ Equity 54,656       54,236  $89,619 $   91,276

  • GlobeNewswire

    Frequency Electronics Announces 2nd Quarter Financial Results Conference Call: Thursday, December 10, 2020, at 4:30 PM ET

    MITCHEL FIELD, N.Y., Dec. 08, 2020 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (NASDAQ: FEIM), will hold a conference call to discuss results for its second quarter of its fiscal year 2021, ended October 31, 2020, on Thursday, December 10, 2020, at 4:30 PM Eastern Time. This call is being webcast by Webcast@issuersdirect.com and can be accessed in the Investor Relations section of Frequency’s web site at www.freqelec.com. Investors and analysts may also access the call by dialing 877-407-9205. International callers may dial 201-689-8054. Ask for the Frequency Electronics conference call.A telephone replay of the archived call will be available at 877-481-4010 (domestic), or 919-882-2331 (international), for one week following the call (replay passcode: 39123). Subsequent to that, the call can be accessed via a link available on the company’s website through March 10, 2021.About Frequency Electronics Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high precision timing, frequency generation and RF control products for space and terrestrial applications. Frequency’s products are used in satellite payloads and in other commercial, government and military systems including C4ISR and electronic warfare, missiles, UAVs, aircraft, GPS, secure communications, energy exploration and wireline and wireless networks. Frequency has received over 100 awards of excellence for achievements in providing high performance electronic assemblies for over 150 space and DOD programs. The Company invests significant resources in research and development to expand its capabilities and markets.Frequency’s Mission Statement: “Our mission is to provide precision time and low phase noise frequency generation systems from 1 Hz to 50 GHz, for space and other challenging environments.”Subsidiaries and Affiliates: FEI-Zyfer provides GPS and secure timing ("SAASM") capabilities for critical military and commercial applications; FEI-Elcom Tech provides Electronic Warfare (“EW”) sub-systems and state-of-the-art RF microwave products. Additional information is available on the Company’s website: www.frequencyelectronics.comContact information: Stanton Sloane, President & Chief Executive Officer; Steven Bernstein, Chief Financial Officer;Telephone: (516) 794-4500 ext.5000       WEBSITE:  www.freqelec.com