Quarterly ResultJul 15, 2026, 04:16 PM
Frequency Electronics Reports Record $111M Backlog, Sets 50% Gross Margin Target
AI Summary
Frequency Electronics, Inc. announced its financial results for the fiscal year ended April 30, 2026, reporting a record $111 million funded backlog, up 59% annually. The company established a three-year minimum gross margin target of 50% and an operating margin target of 30% by Fiscal 2029, reaffirming its $150 million revenue target. FY2026 saw a revenue decline to $63.2 million and a net loss of $0.09 per diluted share, attributed to strategic investments and non-recurring charges, including a $3.8 million restructuring charge.
Key Highlights
- Record funded backlog reached $111 million at April 30, 2026, up 59% annually.
- Established minimum gross margin target of 50% by Fiscal 2029.
- Established minimum operating margin target of 30% by Fiscal 2029.
- Reaffirmed three-year revenue target of at least $150 million by Fiscal 2029.
- Fiscal Year 2026 revenue was $63.2 million, down from $69.8 million in FY2025.
- Fiscal Year 2026 operating loss was $3.0 million, compared to $11.7 million operating income in FY2025.
- Fiscal Year 2026 net loss was $0.9 million, or $0.09 per diluted share.
- Restructuring of FEI-Elcom included a $3.8 million inventory write-down.
Price Impact
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