Frequency Electronics Reports Record Revenue and Strong Growth in Q1 2027
Frequency Electronics (FEIM) posted a record revenue of $23.5 million for the first quarter of fiscal 2027, marking a significant increase of 70% year over year and 52% sequentially. The company attributed this growth to strong performance in its satellite segment and nonspace defense markets. With a funded backlog reaching $129 million—a new high—management expressed confidence in achieving long-term revenue targets due to improved operational efficiencies, higher production volumes, and gross margin improvements. The firm reported operating income of $5.2 million compared to just $364,000 the previous year, with net income rising sharply from $634,000 to $4.2 million or $0.41 per share. A secondary stock offering in July raised $73 million and bolstered liquidity metrics such as a current ratio of 5.3:1 and working capital of $90 million. Management also highlighted progress toward long-term financial goals, including an operating margin target of 30% by fiscal 2029.
Tickers: $FEIM
Topics: Funded Backlog Gross Margin Net Income Operating Income Revenue Growth