Financial Performance - Revenue for FY2024 was $55.3 million, up 36% from $40.8 million in FY2023, with steady growth of 8-10% quarter over quarter [3]. - Operating income for FY2024 was $5.0 million, a significant improvement from an operating loss of $4.7 million in FY2023 [5]. - Net income for the three months ended April 30, 2024, was $2.6 million or $0.28 per diluted share, compared to net income of $0.2 million or $0.03 per diluted share for the same period in FY2023 [5]. Backlog and Cash Position - The backlog at April 30, 2024, was approximately $78 million, up from $57 million at April 30, 2023, representing the highest backlog in the company's history [8]. - Cash and cash equivalents increased to $18.3 million at April 30, 2024, compared to $12.0 million at April 30, 2023 [7]. Revenue Sources - Revenues from satellite payloads accounted for approximately $6.9 million, or 44%, of consolidated revenues for the three months ended April 30, 2024 [11]. - Revenues for non-space U.S. Government/DOD customers were approximately $7.9 million, or 51%, for the three months ended April 30, 2024 [12]. Dividends and Future Outlook - The company plans to pay a special cash dividend of $1.00 per share on August 29, 2024 [5]. - Research and development expenses for FY2024 were $3.4 million, compared to $3.1 million in FY2023 [19]. - The company anticipates continued growth in new business during the current fiscal year ending April 30, 2025 [3].
Frequency Electronics(FEIM) - 2024 Q4 - Annual Results