FREQUENCY ELECTRONICS INC
Business
Frequency Electronics designs, manufactures and supplies precision time and frequency generation products and systems incorporated into commercial and U.S. Government satellites, command-control-communications systems, and electronic warfare platforms. The company offers master timing systems, frequency synthesizers, power converters, GPS-based products, and RF microwave modules for space and terrestrial applications. Operations are organized into two geographic segments: FEI-NY (satellite payloads, DOD systems, RF microwave) and FEI-Zyfer (GPS-based precision navigation and timing for secure communications). The company sells primarily to U.S. Government agencies and defense contractors, with a smaller commercial satellite customer base and modest international sales.
Summary from 10-K filed 2025-07-18
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 | FY 2022 2022-04-30 | FY 2021 2021-04-30 |
|---|---|---|---|---|---|---|
| Revenues | 70 | 55 | 41 | 48 | 54 | |
| Cost of revenues | 40 | 37 | 33 | 40 | 37 | |
| Gross margin | 30 | 19 | 8 | 9 | 17 | |
| Selling and administrative expenses | 12 | 10 | 9 | 12 | 13 | |
| Research and development expenses | 6 | 3 | 3 | 5 | 5 | |
| Operating income | 12 | 5 | −5 | −8 | −958,000 | |
| Income on investments | 519,000 | 561,000 | −606,000 | 199,000 | — | |
| Interest expense | −104,000 | −109,000 | −156,000 | −77,000 | −127,000 | |
| Other expense, net | −3,000 | −7,000 | 7,000 | 160,000 | 1 | |
| Income before benefit from income taxes | 12 | 5 | −5 | −9 | 476,000 | |
| Benefit from income taxes | −12 | −130,000 | 74,000 | 1,000 | −204,000 | |
| Net income | 24 | 6 | −6 | −9 | 680,000 | |
| Basic income per share (in Dollars per share) | 2.46 | 0.59 | — | — | — | |
| Diluted income per share (in Dollars per share) | 2.46 | 0.59 | — | — | — | |
| Basic (in Shares) | 10 | 9 | — | 9 | 9 | |
| Diluted (in Shares) | 10 | 9 | — | 9 | 9 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 | FY 2022 2022-04-30 | FY 2021 2021-04-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 5 | 18 | 12 | 12 | 10 | |
| Accounts receivable, net of allowances of $110 at April 30, 2025 and at April 30, 2024 | 6 | 5 | 5 | 4 | 6 | |
| Contract assets | 18 | 11 | 10 | 9 | 13 | |
| Inventories | 23 | 23 | 21 | 20 | 20 | |
| Prepaid income taxes | 0 | 37,000 | 30,000 | — | — | |
| Prepaid expenses and other | 1 | 1 | 1 | 1 | 991,000 | |
| Total current assets | 53 | 58 | 48 | 56 | 59 | |
| Property, plant, and equipment, net | 6 | 6 | 7 | 9 | 10 | |
| Deferred taxes | 12 | 0 | — | — | — | |
| Goodwill | 617,000 | 617,000 | 617,000 | — | — | |
| Cash surrender value of life insurance and assets held in trust | 11 | 10 | 10 | 10 | 15 | |
| Right-of-use assets operating leases | 9 | 6 | 7 | 9 | 10 | |
| Restricted cash | 1 | 945,000 | 0 | — | — | |
| Other assets | 875,000 | 875,000 | 877,000 | 909,000 | 2 | |
| Total assets | 94 | 83 | 74 | 85 | 97 | |
| Accounts payable trade | 1 | 2 | 1 | 1 | 1 | |
| Accrued liabilities | 6 | 5 | 4 | 4 | 5 | |
| Loss provision accrual | 460,000 | 404,000 | 2 | 4 | 57,000 | |
| Income taxes payable | 103,000 | 0 | — | — | — | |
| Operating lease liability, current portion | 2 | 2 | 2 | 2 | 2 | |
| Contract liabilities | 14 | 22 | 19 | 11 | 11 | |
| Total current liabilities | 23 | 31 | 27 | 22 | 19 | |
| Deferred compensation | 8 | 8 | 8 | 9 | 14 | |
| Deferred taxes | 0 | 8,000 | 8,000 | 8,000 | 8,000 | |
| Operating lease liability, non-current portion | 7 | 5 | 6 | 7 | 8 | |
| Total liabilities | 38 | 43 | 42 | 38 | 41 | |
| Contingencies (Note 15) | 0 | 0 | — | — | — | |
| Preferred stock - $1.00 par value; authorized 600 shares, no shares issued and outstanding | 0 | 0 | 0 | — | — | |
| Common stock - $1.00 par value; authorized 20,000 shares, 9,717 shares issued and 9,704 shares outstanding at April 30, 2025; 9,512 shares issued and 9,511 shares outstanding at April 30, 2024 | 10 | 10 | 9 | 9 | 9 | |
| Additional paid-in capital | 42 | 50 | 49 | 58 | 57 | |
| Retained earnings (accumulated deficit) | 4 | −20 | −26 | −20 | −11 | |
| Common stock reacquired and held in treasury - at cost (13 shares at April 30, 2025 and 1 share at April 30, 2024) | −231,000 | −3,000 | −3,000 | −6,000 | −6,000 | |
| Total stockholders equity | 56 | 40 | 33 | 47 | 55 | |
| Total liabilities and stockholders equity | 94 | 83 | 74 | 85 | 97 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 | FY 2022 2022-04-30 | FY 2021 2021-04-30 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 2 | 2 | 2 | 3 | 3 | |
| Non-cash lease expense | −52,000 | −104,000 | −39,000 | −16,000 | −281,000 | |
| Provision for losses on accounts receivable, other assets and warranty reserve | 314,000 | −171,000 | −33,000 | 328,000 | −117,000 | |
| Provision for inventory reserve | 1 | 912,000 | 600,000 | — | — | |
| Deferred taxes | −12 | 0 | — | — | 0 | |
| Loss provision accrual | 56,000 | −1 | — | — | — | |
| Loss on sale of fixed and other assets | 3,000 | 23,000 | 34,000 | 163,000 | 39,000 | |
| Employee benefit plans expense | 1 | 756,000 | 1 | 842,000 | 1 | |
| Stock-based compensation expense | 1 | 822,000 | 197,000 | 247,000 | 273,000 | |
| Accounts receivable | −1 | 10,000 | −332,000 | 2 | −752,000 | |
| Contract assets | −8 | −368,000 | −1 | 5 | −2 | |
| Inventories | −1 | −4 | −1 | −464,000 | 3 | |
| Prepaid expenses and other | 125,000 | −125,000 | 91,000 | −171,000 | 714,000 | |
| Other assets | −661,000 | 0 | −366,000 | 6 | −584,000 | |
| Accounts payable - trade | −989,000 | 884,000 | 384,000 | −1,000 | −205,000 | |
| Accrued liabilities | 1 | 856,000 | 217,000 | −1 | 765,000 | |
| Contract liabilities | −8 | 3 | 7 | — | — | |
| Prepaid income taxes | 140,000 | −7,000 | 239,000 | 175,000 | 405,000 | |
| Other liabilities | −654,000 | −595,000 | −1 | −6 | −865,000 | |
| Net cash (used in) provided by operating activities | −1 | 9 | 1 | 4 | 12 | |
| Capital expenditures | −2 | −1 | −918,000 | −2 | −1 | |
| Net cash used in investing activities | −2 | −1 | 9 | −2 | −1 | |
| Payment of dividend | −10 | 0 | −9 | 0 | — | |
| Purchase of treasury stock | −377,000 | 0 | — | — | — | |
| Net cash used in financing activities | −10 | 0 | −9 | 0 | −5 | |
| Net (decrease) increase in cash and cash equivalents and restricted cash | −13 | 7 | 488,000 | 2 | 6 | |
| Interest | 104,000 | 114,000 | 129,000 | 77,000 | 123,000 | |
| Income taxes | 371,000 | 13,000 | 7,000 | 15,000 | 0 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is FREQUENCY ELECTRONICS INC's CIK number?
FREQUENCY ELECTRONICS INC's SEC CIK number is 0000039020 (39020). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find FREQUENCY ELECTRONICS INC's SEC filings?
All of FREQUENCY ELECTRONICS INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did FREQUENCY ELECTRONICS INC last report earnings?
FREQUENCY ELECTRONICS INC (FEIM) most recently filed an earnings 8-K with the SEC on Jul 15, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001185185-26-002982). This is FREQUENCY ELECTRONICS INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is FREQUENCY ELECTRONICS INC's most recent earnings 8-K?
FREQUENCY ELECTRONICS INC's latest earnings 8-K (Item 2.02) was filed Jul 15, 2026 under accession 0001185185-26-002982. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View FREQUENCY ELECTRONICS INC's latest earnings 8-K →
Look up any company's CIK number →