Business UpdateMay 27, 2026, 04:03 PM
Frequency Electronics Backlog Exceeds $100M; Wins $16M in New Contracts
AI Summary
Frequency Electronics, Inc. announced new contracts totaling approximately $16 million for oscillators and timing systems, including a significant entry into the space defense market. The company also reported that its backlog surpassed $100 million for the first time at the end of its fiscal year on April 30, 2026. This growth reinforces the company's long-term revenue guidance of at least $150 million within three years, with revenue growth expected to accelerate in Fiscal 2027.
Key Highlights
- Awarded new contracts totaling approximately $16 million for various programs.
- Secured a contract marking entry into the burgeoning space defense market.
- Backlog at April 30, 2026, exceeded $100 million for the first time.
- Reiterated long-term revenue guidance of at least $150 million within three years.
- Fiscal 2026 focused on new contract wins and substantial increases in funded backlog.
- Expects backlog growth to translate into revenue growth starting in Fiscal 2027.
Price Impact
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