Key Takeaways:
- FEIM posted a Q4 loss of $0.50 a share, missing the $0.25 consensus estimate.
- Revenue of $15.4 million fell short of the $18.9 million analyst forecast.
- The defense contractor did not disclose guidance for the new fiscal year.
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Frequency Electronics misses Q4 estimates as revenue falls to $15.4 million
Frequency Electronics Inc. reported a Q4 loss of $0.50 a share, missing the $0.25 profit estimate by a wide margin as revenue slumped.
The company did not provide a management comment in its earnings release. Frequency Electronics, based in Uniondale, New York, supplies precision timing and frequency generation products for satellite and defense applications.
Revenue for the quarter ended April 30 reached $15.4 million, compared with the $18.9 million analysts had expected. The miss of $3.5 million, or 18.7%, marks the largest revenue shortfall for the company in at least eight quarters.
The results raise questions about demand in Frequency Electronics' core defense and satellite markets. The company's next catalyst will be its annual shareholder meeting, where management may provide an update on the order pipeline and cost-reduction initiatives.
This article is for informational purposes only and does not constitute investment advice.
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