Frequency Electronics, Inc. (NASDAQ:FEIM) Q4 2020 Earnings Conference Call July 16, 2020 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 Sam Rebotsky - SER Asset Management Michael Eister - Private Investor Kurt Caramanidis - Carl M. Hennig Company Operator Greetings. Welcome to the Frequency Electronics Fiscal Year 2020 Fourth Quarter and Year End Earnings Rele ...

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 January 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ t ...

Financial Data and Key Metrics Changes - For the nine months ending January 31, 2020, consolidated revenue was $31.3 million, down from $36.3 million in the prior fiscal year, while for the three months, revenue was $9.6 million compared to $13.2 million previously [10] - Gross margin for the nine months was $5.9 million with a margin rate of 18.9%, down from 34.1% in the prior year, and for the three months, gross margin was $3.1 million with a margin rate of 30.3%, compared to 31.1% previously [14] - The company recorded operating losses of $7.3 million for the nine months and $1.6 million for the three months, compared to losses of $540,000 and $394,000 in the prior year [19] Business Line Data and Key Metrics Changes - Revenue from commercial and U.S. government satellite programs was $14.7 million, down from $17.3 million, accounting for approximately 47% of consolidated revenue [11] - Revenue from non-space U.S. government and DOD customers was $12.7 million, down from $17.1 million, representing about 41% of consolidated revenue [12] - Other commercial industrial revenues increased to $3.9 million from $2 million in the prior fiscal year [13] Market Data and Key Metrics Changes - The company is pursuing new business opportunities valued at approximately $660 million, which is a significant increase and a strong leading indicator of future revenue growth [6] - The fully funded backlog at the end of January 2020 was approximately $36 million, down $4 million from the previous quarter, but the company received over $3.5 million in additional funding on two existing programs post-quarter [22] Company Strategy and Development Direction - The company has instituted best practices from aerospace experience to avoid past technical and financial issues [5] - There is a focus on organic growth, aiming to increase both top-line and bottom-line growth, with a goal to turn the $660 million in bids into $1 billion or $2 billion [36][37] - The company is investing significantly in R&D to enhance competitiveness and maintain product leadership in time and frequency technology [18] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, noting a renewed spirit within the company [7] - The company has taken precautions regarding the coronavirus, ensuring no disruptions in operations and supply chain [8] - Management indicated that predicting the timing of contract awards is difficult due to government negotiation cycles, but they are in a strong position as a supplier [30][33] Other Important Information - Selling and general administrative expenses increased significantly, accounting for approximately 35% of consolidated revenues for the three months, up from 20% in the prior year [16] - The company maintains a strong working capital position of approximately $40 million, debt-free, with a current ratio of over 6.1 to 1 [22] Q&A Session Summary Question: Can you quantify the additional professional fees and clarify the $725,000 charge? - The additional professional fees were a couple of hundred thousand dollars, and the $725,000 charge was related to the termination of a contract [25] Question: Is the $7.2 million backlog funded, and when can we expect contracts from the $660 million? - The $7.2 million is funded, and while timing is difficult to predict, management believes they are in a strong position for upcoming contracts [30] Question: What is the status of the GPS IIIF program? - The program is progressing well, and management is optimistic about its development [28] Question: When do you expect to report significant profit? - Management refrained from providing specific guidance but emphasized the importance of trends and organic growth [37] Question: What is Martin Bloch's current role? - Martin Bloch is currently a Director at the company [38] Question: Can you comment on the value of the two sole-sourced contracts? - Management did not provide specific values as the contracts are not yet definitized or negotiated [39] Question: What is the status of Elcom? - Elcom is performing well with new electronic warfare products and is awaiting low rate initial production [39]

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, 2019 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. (NASDAQ:FEIM) Q2 2020 Results Conference Call December 12, 2019 4:30 PM ET Company Participants Martin Bloch - Executive Chairman Dr. Stan Sloane - CEO Steve Bernstein - CFO Conference Call Participants Brett Reiss - Janney Sam Rebotsky - SER Asset Management Operator Greetings and welcome to the Frequency Electronics Second Quarter Fiscal Year 2020 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will ...

Frequency Electronics, Inc. (NASDAQ:FEIM) Q1 2020 Earnings Conference Call September 16, 2019 4:30 PM ET Company Participants Martin Bloch - Chairman of the Board Stan Sloane - Chief Executive Officer Steve Bernstein - Chief Financial Officer Conference Call Participants Brett Reiss - Janney Montgomery Scott Sam Rebotsky - SER Asset Management Richard Jones - Private Investor Michael Eisner - Private Investor David Starkey - Morgan Stanley Michael Cooper - Private Investor Operator Greetings and welcome to ...

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, 2019 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 | --- | --- | --- | |------------------------------------------------------------------------------------ ...

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, 2019 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 ...

Frequency Electronics, Inc. (NASDAQ:FEIM) Q4 2019 Results Conference Call July 18, 2019 4:30 PM ET Company Participants Martin Bloch - Chairman of the Board Stan Sloane - Chief Executive Officer Steve Bernstein - Chief Financial Officer Conference Call Participants Sam Rebotsky - SER Asset Management George Marema - Pareto Ventures Brett Reiss - Janney Operator Good day, ladies and gentlemen. And welcome to you Frequency Electronics' Fourth Quarter and Year-End 2019 Earnings Release Conference Call [Operato ...

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, 2019 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 ...