MITCHEL FIELD, N.Y., July 11, 2025 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM), a leading provider of precision timing and frequency technology, would like to clarify a topic on yesterday’s earnings call. The Company discussed expected near-term revenue from its TURbO compact rubidium atomic clock. As a clarification, although the stated revenue expectation in FY2026 of $1M to $2M is accurate, that comment referred to orders already received since TURbO’s introduct ...

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][10] - 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 fiscal 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 balance sheet reflects a strong working capital position of approximately $30 million and a current ratio of about 2.3:1, with no debt [15] 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 [9] - 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% previously [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 primes 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][10] - The company is committed to maintaining technical excellence through increased R&D spending, which rose to $6.1 million from $3.4 million [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth driven by new legislation supporting space and defense programs, although they cautioned about variability in contract timing due to changes in administration [4][30] - The company expects to see additional revenue from contract awards flowing in over the coming quarters and years [4] Other Important Information - The company recorded a decrease in valuation allowance of approximately $13.9 million, primarily related to deferred tax assets [14] - Cash decreased by approximately $13.6 million, with dividends accounting for about $9.6 million of this decrease [15] Q&A Session Summary Question: Allocation of resources to growth opportunities - Management is actively pursuing proposals in various growth areas, with quantum sensors appearing particularly promising due to the vulnerability of GPS [21][22] Question: Adequacy of cash for increased R&D spending - Management is confident in their ability to fund increased R&D through internal funds and is exploring external funding options [24][25] Question: Short-term uncertainty and backlog variability - Management clarified that while there may be variability in future contracts, the current backlog of $70 million is solid [33][34] Question: Gross margin outlook - Management aims to maintain gross margins in the low to mid-40% range for the upcoming fiscal year [68] 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 in about five years [70] Question: SG&A and R&D targets for 2026 - SG&A is expected to remain around 18% of revenue, while R&D is projected to be in the 6% to 9% range [79]

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]

Core Insights - Frequency Electronics, Inc. reported significant revenue growth for the fiscal year 2025, with revenues of approximately $20.0 million for Q4 and $69.8 million for the full year, compared to $15.6 million and $55.3 million in the previous fiscal year [1] - The company achieved an operating income of $3.3 million for Q4 and $11.7 million for the full year, up from $2.5 million and $5.0 million in the prior year [1] - Net income from operations for Q4 was $3.3 million ($0.34 per diluted share) and $23.8 million ($2.48 per diluted share) for the full year, compared to $2.6 million ($0.28 per diluted share) and $5.6 million ($0.59 per diluted share) in FY2024 [1] Financial Performance - Q4 revenues from satellite payloads were approximately $12.1 million, representing 60% of consolidated revenues, compared to $6.9 million (44%) in the same period of FY2024 [6] - Revenues from non-space U.S. Government/DOD customers were approximately $7.0 million (35%) for Q4, down from $7.9 million (51%) in FY2024 [6] - Total revenues from other commercial and industrial sales accounted for approximately $0.9 million (4%) for Q4, slightly up from $0.8 million (5%) in the previous year [7] Strategic Outlook - The company is well-positioned to capitalize on the growing quantum sensor market, leveraging its expertise in atomic clocks and actively hiring skilled professionals in this field [5] - FEI is investing in targeted internal R&D to develop products for space and defense applications, aiming for faster execution and reduced customization needs [4] - The recent U.S. budget legislation indicates strong government commitment to space and defense, which FEI anticipates will positively impact its business in the medium to long term [3] Operational Metrics - Net cash used in operating activities was approximately $1.4 million for FY2025, a decline from $8.7 million in FY2024 [12] - The backlog at April 30, 2025, was approximately $70 million, down from $78 million at the same time in the previous year [12]

Core Points - Quantum Critical Metals Corp. has closed the first tranche of its non-brokered private placement financing, raising gross proceeds of $1,029,100 through the sale of 10,291,000 units at a price of $0.10 per unit [1] - Each unit consists of one common share and one common share purchase warrant, with warrants allowing the purchase of shares at $0.20 until June 27, 2027 [1] - The net proceeds will be used for exploration activities in British Columbia and Quebec, as well as for general corporate purposes [2] Group 1 - The closing of the offering is subject to final approval from the TSX Venture Exchange and other customary conditions [3] - A second and final tranche is expected to close around July 13, 2024, with securities issued subject to a four-month hold period expiring on October 28, 2025 [3] - Finder's fees included $42,387 in cash and 422,870 broker warrants for subscriptions introduced by certain persons [4] Group 2 - Certain insiders participated in this tranche, making it a "related party transaction" under Multilateral Instrument 61-101, exempt from formal valuation and minority shareholder approval [5] - Insiders contributed $100,000 in the first tranche through the issuance of 1,000,000 units [5] Group 3 - The company has a diverse portfolio of assets, including projects in gallium, rubidium, cesium, antimony, copper, and germanium, positioning it to support the transition to a sustainable critical minerals supply [8]

Core Viewpoint - Quantum Critical Metals Corp. plans to raise between $2,000,000 to $3,000,000 through a non-brokered private placement financing by selling 20,000,000 to 30,000,000 units at a price of $0.10 per unit, with each unit consisting of one common share and one warrant [1][2]. Group 1 - The net proceeds from the Offering will be used for continued exploration activities on the Company's properties in British Columbia and Quebec, as well as for general corporate purposes [2]. - The Offering is expected to close on or about June 30, 2025, and may be completed in one or more tranches, subject to TSX Venture Exchange approval and customary conditions for private placements [3]. - All securities issued will be subject to a statutory hold period of four months and one day from the date of issue [3]. Group 2 - The Company may pay a finder's fee to certain individuals who introduce purchasers to the Offering, in accordance with TSXV policies [4]. - Certain insiders are expected to participate in the Offering, which qualifies as a "related party transaction" under Multilateral Instrument 61-101, but is exempt from formal valuation and minority shareholder approval requirements [5]. Group 3 - Quantum Critical Metals Corp. is a Canadian mineral exploration company focused on advancing critical metals projects, with a portfolio that includes various projects in Quebec and British Columbia [8].

Vancouver, BC – TheNewswire - June 10, 2025 – Quantum Critical Metals Corp. (TSX.V: LEAP | OTCQB: ATOXF | FSE: 86A1) ("Quantum" or the "Company") is exploring the possibility of a poly-metallic play, in addition to gallium, rubidium and cesium, on its wholly owned NMX East project, located in the Eeyou Istchee James Bay Region of Québec. Previous news releases have discussed the discovery of 107.69 meters of 38.85 gpt gallium, 701 gpt rubidium, 24.98 gpt cesium and 3.61 gpt thallium from surface in diamond ...

 Vancouver, BC – TheNewswire - April 7th, 2025 – Quantum Critical Metals Corp. (TSX.V: LEAP) (OTCQB: ATOXF) (Frankfurt: 86A1) (“Quantum” or the “Company”) invites you to visit the Company during the annual Kamloops Exploration Group (“KEG”) conference at the Coast Kamloops Hotel and Conference Centre on Tuesday, April 7th and Wednesday April 8th.Representatives from the Company will be available to discuss Quantum’s properties throughout the convention period. Attendees may visit the Quantum booth where th ...