Frequency Electronics, Inc. Announces Second Quarter Fiscal Year 2022 Results

FEI CEO Stan Sloane commented, β€œI am very pleased with the improvement in operating income and net income for the quarter. Cash generation is also the highest it has ever been with a current cash and marketable securities balance now at approximately $20.6 million and, of course, no debt. While revenues were a bit lower for the quarter, principally in our Zyfer operation, the orders are still anticipated. Moreover, we have some significant opportunities we have been pursuing related to advanced technology developments for which we hope to announce contract awards in the near term. We are also increasing our R&D investments in new technology related to atomic clocks and low-noise oscillators that are expected to produce long-term increases in revenue and position the company to compete in the marketplace with next generation products. The pay-off on these investments is illustrated by the award of the Pulsed Optically Pumped Rubidium Atomic Frequency Standard (POPRAFS) contract from the Office of Naval Research that we announced in Q1. We invested in that technology over the last few years and are gratified that the investment has been validated. We will continue to vigorously pursue these advanced technologies, focusing particularly on developing leap-frog products that will deliver disproportionate market share.” Read More