Frequency Electronics Reports Record Q1 Revenue and Strong Growth in Fiscal 2027
Frequency Electronics (FEIM) reported record revenue for its first quarter of fiscal year 2027, reaching $23.5 million—a 70% increase from the same period last year and a 52% sequential rise. CEO Thomas McClelland attributed this growth to strong performance in core markets like space and defense, as well as expansion into new areas such as quantum sensing and alternative positioning technologies. The company also highlighted significant improvements in profitability metrics, with gross margin at 45.8% and operating margin at 22%, both showing progress toward its long-term targets of 50% and 30%, respectively, by fiscal year 29 (ending April 30, 2029). Backlog increased to a record $129 million, up 82% year-over-year. This growth supports the company’s confidence in achieving or exceeding its annual revenue target of over $150 million. Management emphasized continued momentum across key markets and internal operational improvements that are expected to drive future performance.
Tickers: $FEIM
Topics: financial results management commentary revenue growth