Financial Data and Key Metrics Changes - For the fiscal year ended April 30, 2025, consolidated revenue was $69.8 million, up from $55.3 million in the prior fiscal year, representing a significant increase [8] - Gross profit increased due to higher revenue and improved gross margin, with operating income rising to $11.7 million from $5 million in the previous year [13][14] - Consolidated net income for the year was $23.7 million or $2.46 per share, compared to $5.6 million or $0.59 per share in the previous fiscal year [14] - The company's fully funded backlog at April 2025 was approximately $70 million, down from $78 million in the previous fiscal year [14] Business Line Data and Key Metrics Changes - Revenue from commercial and U.S. Government satellite programs was approximately $40.9 million, accounting for 59% of total revenue, compared to $23.2 million or 42% in the prior fiscal year [8] - Revenue from non-space U.S. Government and DoD customers decreased to $26.5 million from $29 million, representing 38% of consolidated revenue compared to 52% in the prior year [9] Market Data and Key Metrics Changes - The company is expanding its customer base beyond traditional prime contractors and is actively submitting bids alongside next-generation defense companies [5] - The company anticipates meaningful growth with traditional prime contractors and is well-positioned to benefit from industry trends over the next five to ten years [5] Company Strategy and Development Direction - The company is focusing on several growth opportunities, including quantum sensing and alternative navigation technologies, which are expected to drive future growth [6][24] - The company is committed to maintaining technical excellence through increased R&D spending, which rose to $6.1 million from $3.4 million [12] - The company aims to maintain a gross margin of 40% or more in the upcoming fiscal year [72] Management's Comments on Operating Environment and Future Outlook - Management noted that while the recent quarter was strong, future quarters may not replicate this performance due to the lumpiness of contract awards [4] - There is variability in the timing of contracts due to changes in administration priorities, but the overall spending outlook remains positive [30][31] - Management expressed confidence in the company's ability to fund increased R&D spending through internal funds and external funding opportunities [25][26] Other Important Information - The company is debt-free and maintains a strong working capital position of approximately $30 million [15] - Cash decreased by approximately $13.6 million since the prior fiscal year end, primarily due to dividend payments and timing of billing [15][16] Q&A Session Summary Question: Allocation of resources to growth opportunities - Management is actively pursuing proposals in various growth areas and is in discussions with prime customers about capabilities [22][24] Question: Potential for growth in specific areas - Quantum sensor technology appears promising, with significant market potential, while Golden Dome also shows potential but with uncertain funding [24] Question: Adequacy of cash for increased R&D spending - Management is confident in having adequate cash to fund increased R&D, with a cautious approach to resource allocation [25] Question: Short-term uncertainty and backlog variability - Management clarified that the $70 million backlog is solid, with variability mainly concerning future contracts [34][35] Question: Revenue opportunities from quantum sensing - Quantum sensing is expected to contribute less than 1% of overall revenue in the next fiscal year, with product revenue anticipated five years out [73] Question: SG&A and R&D targets for future years - SG&A is expected to remain around 18% of revenue, while R&D is projected to be in the 6% to 9% range [83] Question: SDA bids and investment expenses - The SDA process is currently being rethought by the new administration, with potential developments expected within the next 9 to 12 months [86][87]

MITCHEL FIELD, N.Y., July 10, 2025 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the three and twelve months ended April 30, 2025, of approximately $20.0 million and $69.8 million, respectively, compared to revenues of $15.6 million and $55.3 million, for the same period of fiscal year 2024, ended April 30, 2024. Operating income for the three and twelve months ended was $3.3 million and $11.7 million, respectively, compared to an operating ...

RESTON, Va., June 5, 2025 /PRNewswire/ -- Susceptibility to jamming is a significant military vulnerability of the Global Positioning System (GPS) signal. Through a Defense Innovation Unit contract, Leidos (NYSE: LDOS) is developing an alternative navigation technology that measures variations in the Earth's magnetic field and harnesses the quantum properties of nitrogen in diamonds."With magnetic navigation (MagNav) there's no signal to jam," said Aaron Canciani, manager of the Leidos Transition of Quantum ...