Frequency Electronics, Inc. Reports Earnings Results for the Full Year Ended April 30, 2022
July 14, 2022 at 01:37 am IST
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Frequency Electronics, Inc. reported earnings results for the full year ended April 30, 2022. For the full year, the company reported sales was USD 48.3 million compared to USD 54.25 million a year ago. Net loss was USD 8.66 million compared to net income of USD 0.68 million a year ago. Basic loss per share from continuing operations was USD 0.93 compared to basic earnings per share from continuing operations of USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.93 compared to diluted earnings per share from continuing operations of USD 0.07 a year ago.
Frequency Electronics, Inc. is engaged in the design, development and manufacture of precision timing, frequency generation and radio frequency control products for space and terrestrial applications. The Company operates through two segments: FEI-NY and FEI-Zyfer. FEI-NY segment provides precision time, frequency generation and synchronization products and subsystems that are found on-board satellites, in ground-based communication systems and imbedded in mobile platforms operated by the United States military. FEI-Zyfer designs, develops, and manufactures products which provide Precision Navigation and Timing (PNT), primarily incorporating Global Navigation Satellite System(s) technology. FEI-Zyfers products make use of both in-the-clear civil and crypto-secured military signals for global positioning systems (GPS). FEI-Zyfers products are integrated into radar systems, information networks, test equipment, military command and control terminals, and satellite ground stations.