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, 2023 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 (I.R.S. Employer Identification N ...

Financial Data and Key Metrics Changes - For the three months ending April 30, 2023, the company reported a tax provision of $68,000 compared to a $3,000 tax benefit for the same period of the prior fiscal year [1] - Consolidated net income for the three months ending April 30, 2023, was approximately $246,000 or $0.03 per share compared to an approximately $6.8 million loss or $0.74 per share for the same period of the previous fiscal year [1] - Revenue increased from $17.2 million during the first half of fiscal 2023 to $23.6 million during the second half of fiscal 2023 [47] - Gross profit percentage went from 2% in the first half of fiscal 2023 to 31.8% in the second half of fiscal 2023 [47] - Operating income loss improved from $5.4 million in the first half of fiscal 2023 to an operating income of $717,000 in the second half of fiscal 2023 [47] Business Line Data and Key Metrics Changes - Revenue from commercial and U.S. government satellite programs was approximately $5.1 million or 39% of consolidated revenue compared to $5.2 million or 51% of consolidated revenue in the same period of the prior fiscal year [48] - Revenue on satellite payload contracts is recognized primarily under the percentage of completion method and is recorded only in the FEI-New York segment [48] - Commercial and industrial revenue was approximately $563,000 compared to approximately $249,000 in the prior fiscal year [49] - R&D expense for the three months ending April 30, 2023, decreased to approximately $658,000 from $1.1 million for the three months ending April 30, 2022 [69] Market Data and Key Metrics Changes - Revenues from non-space U.S. government and DOD customers were $7.3 million compared to $4.7 million in the same period of the prior fiscal year, accounting for approximately 56% of consolidated revenue compared to 46% for the prior fiscal year [67] - The fully funded backlog at the end of April 2023 was approximately $56 million compared to $40 million for the previous fiscal year ended April 30, 2022 [52] Company Strategy and Development Direction - The company plans to significantly increase R&D funding over the next couple of years and is actively pursuing external funding for development efforts [4] - The company is focusing on improving performance and lowering costs in the position, navigation, and timing arena through collaboration with major customers [43] - The company anticipates continued growth in both commercial and government satellite businesses, despite the challenging economic and geopolitical environment [64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in significant revenue growth and profitability based on existing contracts and anticipated new contracts [5] - The company remains debt-free with a strong balance sheet to fund future growth opportunities [64] - Management acknowledged the challenges posed by inflation and supply chain issues but noted improvements in lead times for parts [99] Other Important Information - The Zyfer division has made a dramatic comeback, with a small overall operating loss of about $160,000 in fiscal year 2023 compared to an operating loss of over $2 million in fiscal year 2022 [44] - The company has regrouped after layoffs and is seeing positive results from cost-cutting efforts and management reorganization [46] Q&A Session Summary Question: What is the company's outlook on self-funding growth opportunities? - Management indicated that the company is now able to self-fund growth opportunities following the transition to profitability [91] Question: How much of the backlog is deliverable in fiscal 2024? - Management stated that it is difficult to estimate, but there are several major programs anticipated in the near future [94][95] Question: What are the principal learnings from the past year? - Management emphasized the importance of attention to detail and the need to pursue new business opportunities profitably [121][122] Question: How is the company addressing the challenges of part delays and inflation? - Management noted that while challenges remain, there have been improvements in lead times for parts, which is encouraging [99]

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, 2023 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) (State or other jurisdiction of incorporation ...

Frequency Electronics, Inc. (NASDAQ:FEIM) Q2 2023 Earnings Conference Call December 20, 2022 4:30 PM ET Company Participants Thomas McClelland - President and Chief Executive Officer Steve Bernstein - Chief Financial Officer Conference Call Participants Brett Reiss - Janney Montgomery Richard Johns - Private Investor Robert Smith - Center for Performance Investing Michael Eisner - Private Investor Frank Wisneski - Private Investor Bert Cole - Private Investor Operator Greetings and welcome to the Frequency ...

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, 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 ( ...

Frequency Electronics, Inc. (NASDAQ:FEIM) Q1 2023 Earnings Conference Call September 13, 2022 4:30 PM ET Company Participants Thomas McClelland - President & CEO Steve Bernstein - CFO Conference Call Participants Operator Greetings. And welcome to the Frequency Electronics Q1 Fiscal '23 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded. Any statements made by the company during this conference ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock (par value $1.00 per share) FEIM NASDAQ Global Market 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, 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 Fil ...

Financial Data and Key Metrics Changes - For the fiscal year ended April 30, 2022, consolidated revenue decreased to $48.3 million from $54.3 million in the prior fiscal year, representing a decline of approximately 11% [9][10] - The consolidated net loss for the fiscal year was $8.7 million or $0.93 per share, compared to a net income of $680,000 or $0.07 per share in the previous fiscal year [20] - The company recorded an operating loss of $8.1 million, significantly higher than the operating loss of $1 million in the prior year [17] Business Line Data and Key Metrics Changes - Revenue from commercial and U.S. government satellite programs was approximately $26.1 million, accounting for 54% of total revenue, compared to $27 million or 50% in the prior fiscal year [9] - Revenues from non-space U.S. Government/DOD customers decreased to $19.6 million from $24.8 million, representing 41% of consolidated revenue compared to 46% in the prior fiscal year [10] - Other commercial and industrial revenues slightly increased to $2.6 million from $2.5 million in the prior fiscal year [11] Market Data and Key Metrics Changes - The majority of the revenue decrease was attributed to the FEI-Zyfer segment, primarily due to delays in expected bookings and the relocation of manufacturing from California to New York [11][12] - The company believes that the revenue lost in fiscal 2022 has shifted into fiscal 2023, indicating potential recovery in the upcoming year [12] Company Strategy and Development Direction - The company is focusing on developing next-generation precision timing systems, including pulse laser-based rubidium atomic clocks and mercury ion atomic clocks, with demonstrations expected in 2023 and 2024 [5] - There is a strategic emphasis on supporting the space community's migration to small satellites by leveraging core technologies while enhancing performance and reducing size, weight, power, and cost [6] - The company is committed to deploying its technical capabilities in position, navigation, timing, and other applications, indicating a strong focus on innovation and market adaptation [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's future prospects despite the challenges faced in the past year, highlighting significant wins and expected additional awards in the upcoming year [9] - The company acknowledges the difficulties encountered, particularly in engineering costs and contract delays, but believes that most challenges have been overcome [14] - Management emphasized the importance of maintaining a strong working capital position and adequate liquidity to meet operational needs [21] Other Important Information - The company recorded a gross margin decrease due to reduced revenue and increased engineering costs, which were exacerbated by supply chain impacts [13] - R&D expenses increased to $5 million from $4.7 million, reflecting ongoing investments in new and existing projects [16] - The company remains debt-free with a current ratio of approximately 2.5 to 1, indicating a strong financial position [21] Summary of Q&A Session Questions and Answers - There was no question-and-answer session conducted at the end of the call, as indicated by the operator's announcement [22]

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, 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 (State or other jurisdiction of i ...

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 ...