Frequency Electronics(FEIM)

Search documents
Frequency Electronics(FEIM) - 2022 Q3 - Quarterly Report
2022-03-14 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended January 31, 2022 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 1-8061 FREQUENCY ELECTRONICS, INC. (Exact name of Registrant as specified in its charter) Delaware 11-1986657 (St ...
Frequency Electronics(FEIM) - 2022 Q3 - Earnings Call Transcript
2022-03-11 03:02
Frequency Electronics, Inc. (NASDAQ:FEIM) Q3 2022 Earnings Conference Call March 10, 2022 4:30 PM ET Company Participants Stanton Sloane – President and Chief Executive Officer Steve Bernstein – Chief Financial Officer Conference Call Participants Brett Reiss – Janney Montgomery Scott Operator Greetings and welcome to the Frequency Electronics Third Quarter Fiscal Year 2022 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will fo ...
Frequency Electronics(FEIM) - 2022 Q2 - Quarterly Report
2021-12-13 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended October 31, 2021 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 1-8061 FREQUENCY ELECTRONICS, INC. (Exact name of Registrant as specified in its charter) Delaware 11-1986657 (St ...
Frequency Electronics(FEIM) - 2022 Q2 - Earnings Call Transcript
2021-12-10 01:09
Financial Data and Key Metrics Changes - For the six months ended October 31, 2021, consolidated revenue was $26 million, a decrease from $27 million in the same period of the prior fiscal year [8] - The consolidated net loss for the six months ending October 31, 2021, was $1.1 million or $0.12 per share, compared to a net income of $67,000 or $0.01 per share in the previous fiscal year [20] - The company recorded an operating loss of $1.4 million for the six months ended October 31, 2021, compared to an operating loss of $120,000 in the prior year [16] Business Line Data and Key Metrics Changes - Revenue from commercial and US Government satellite programs was approximately $13.3 million or 51%, compared to $14.2 million or 53% in the same period of the prior fiscal year [9] - Revenues from non-space US Government and DOD customers were $10.6 million, down from $10.9 million in the same period of the prior fiscal year, accounting for approximately 41% of consolidated revenue [10] - Other commercial and industrial revenues increased to $2 million from $1.8 million in the prior fiscal year [11] Market Data and Key Metrics Changes - The company's fully funded backlog at the end of October 2021 was approximately $38 million, down approximately $2 million from the previous fiscal year ended April 30, 2021 [20] - The balance sheet reflects a strong working capital position of approximately $40 million on October 31, 2021, with a current ratio of approximately 5 to 1 [21] Company Strategy and Development Direction - The company is focusing on advanced technology developments, particularly in atomic clocks and low-noise oscillators, with increased internal R&D investments [6][15] - Management is optimistic about receiving additional contract awards for groundbreaking product developments [7] - The company aims to position itself at the forefront of precision and time generation products for government space and telecom applications [8] Management's Comments on Operating Environment and Future Outlook - Management noted that while revenues were lower due to delays in bookings, they anticipate these will come in, indicating a focus on long-term growth despite short-term challenges [5] - The company is experiencing longer lead times for parts and materials, a challenge faced across the industry [22] - Management expressed optimism about the market opportunities driven by government investments in new technologies, particularly in the context of US-China competition in the satellite space arena [40][42] Other Important Information - The company continues to be debt-free and believes its liquidity is adequate to meet operating and investing needs for the foreseeable future [21] - R&D expenses increased to $2.7 million from $2.2 million, reflecting higher investments in new technology developments [14] Q&A Session Summary Question: What percent of the last two contracts is in the backlog? - Management indicated that collectively, the contracts amount to around $5 million [22] Question: How are the supply chains and any delays? - Management acknowledged longer times to get parts and materials, noting that this is a universal issue affecting customers as well [22][23] Question: What is the status of qualifications for GPS IIIF? - Management stated that the qualification program is nearing completion and should be finished within a month or two [25] Question: Are there plans to hire more employees? - Management confirmed that the total number of employees has remained stable, with some job openings planned to be filled [27] Question: What is a low-noise oscillator used for? - Management explained that low-noise oscillators are critical for communications and radar systems where frequency purity is essential [29] Question: What is the market size for low-noise oscillators? - Management estimated the market size for their type of oscillators to be a couple of hundred million dollars [30] Question: Is R&D investment divided between atomic clocks and low-noise oscillators? - Management indicated that the R&D program is currently more focused on atomic clocks, which present significant market opportunities [34] Question: Will the company see a surge in revenues from past bids? - Management expressed hope for revenue increases as bids are adjudicated and contracts are secured [47]
Frequency Electronics(FEIM) - 2022 Q1 - Earnings Call Transcript
2021-09-13 22:26
Frequency Electronics, Inc. (NASDAQ:FEIM) Q1 2022 Results Earnings Conference Call September 13, 2021 4:30 PM ET Company Participants Stan Sloane - President, Chief Executive Officer Steve Bernstein - Chief Financial Officer Conference Call Participants Michael Cooper - Private Investor Richard John - Private Investor Sam Rebotsky - SER Asset Management Brett Reiss - Janney Michael Eisner - Private Investor Operator Greetings and welcome to the Frequency Electronics first quarter fiscal year 2022 earnings r ...
Frequency Electronics(FEIM) - 2022 Q1 - Quarterly Report
2021-09-13 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended July 31, 2021 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 1-8061 FREQUENCY ELECTRONICS, INC. (Exact name of Registrant as specified in its charter) Delaware 11-1986657 (State ...
Frequency Electronics(FEIM) - 2021 Q4 - Earnings Call Transcript
2021-06-30 02:15
Frequency Electronics, Inc. (NASDAQ:FEIM) Q4 2021 Earnings Conference Call June 29, 2021 4:30 PM ET Company Participants Stanton Sloane - President and Chief Executive Officer Steven Bernstein - Chief Financial Officer Conference Call Participants Brett Reiss - Janney Montgomery Scott Sam Rebotsky - SER Asset Management Michael Eisner - Private Investor Operator Greetings and welcome to the Frequency Electronics Fourth Quarter and Fiscal Year End 2021 Earnings Release Conference Call. [Operator Instructions ...
Frequency Electronics(FEIM) - 2021 Q4 - Annual Report
2021-06-29 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year ended April 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 1-8061 FREQUENCY ELECTRONICS, INC. (Exact name of Registrant as specified in its charter) Delaware 11-1986657 (State or o ...
Frequency Electronics(FEIM) - 2021 Q3 - Earnings Call Transcript
2021-03-12 02:43
Frequency Electronics, Inc. (NASDAQ:FEIM) Q3 2021 Earnings Conference Call March 11, 2021 4:30 PM ET Company Participants Stanton Sloane – President and Chief Executive Officer Steve Bernstein – Chief Financial Officer Conference Call Participants Michael Eisner – Private Investor Sam Rebotsky – SER Asset Management Brett Reiss – Janney Montgomery Scott Walter Sturm – Private Investor Joe Gersky – Private Investor Operator Greetings, and welcome to the Frequency Electronics Third Quarter Fiscal Year 2021 Ea ...
Frequency Electronics(FEIM) - 2021 Q3 - Quarterly Report
2021-03-11 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended January 31, 2021 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 1-8061 FREQUENCY ELECTRONICS, INC. (Exact name of Registrant as specified in its charter) Delaware 11-1986657 (St ...