FREQUENCY ELECTRONICS INC

Frequency Electronics, Inc. announced the appointment of Allen Kaplan as its new Chief Financial Officer, effective November 1, 2026. He succeeds Steven L. Bernstein, who will retire on the same date. Mr. Kaplan's compensation package includes a base salary of $280,000, a performance bonus, a one-time supplemental bonus, and equity awards. The company also reaffirmed its previously announced fiscal year 2029 financial targets.

Frequency Electronics, Inc. reported a strong second quarter for fiscal year 2027, with revenues increasing by 69.8% to $23.45 million compared to the prior year. Net income rose to $4.22 million, or $0.41 per diluted share, a significant improvement from $0.63 million, or $0.07 per diluted share, in the same period last year. The company also successfully completed a public offering, raising substantial net proceeds, and saw significant growth across both its FEI-NY and FEI-Zyfer segments. Cash position improved dramatically due to the financing activities.

Frequency Electronics announced that the underwriters of its recent offering fully exercised their option to purchase an additional 260,869 shares of Common Stock. This exercise resulted in gross proceeds of approximately $14.1 million for the company. The funds are earmarked to support further growth initiatives, including capital expenditures, working capital, and general corporate needs.

Frequency Electronics, Inc. completed a common stock offering on July 30, 2026, selling 1,086,957 shares at $57.50 per share. This generated approximately $62.5 million in gross proceeds for the company. Additionally, selling stockholders sold 652,174 shares, from which the company received no proceeds. Underwriters were granted a 30-day option to purchase up to 260,869 additional shares from the company.

Frequency Electronics, Inc. announced the pricing of its underwritten public offering of 1,739,131 shares of common stock at $57.50 per share, generating approximately $100 million in gross proceeds. The company is offering 1,086,957 shares, while affiliates of a board member are selling 652,174 shares. The offering is expected to close on July 30, 2026, and Frequency Electronics plans to use its net proceeds for growth opportunities, capital expenditures, working capital, and general corporate purposes.

Frequency Electronics announced the commencement of an underwritten public offering totaling $100 million of its common stock. The company is offering $62.5 million of shares, while affiliates of a board member are selling $37.5 million. Additionally, the underwriters have a 30-day option to purchase up to an additional $15 million from the company. Proceeds received by the company will be used to fund growth opportunities, capital expenditures, working capital, and other general corporate purposes.

Frequency Electronics, Inc. announced it has been awarded multiple contracts with a combined value of approximately $18 million. This includes an $11 million award from a major aerospace prime contractor for a proliferated satellite program, marking the company's first contract with this customer. Additionally, FEI secured approximately $7 million in follow-on production contracts for both space oscillators and non-space U.S. Government programs, which are expected to contribute to higher gross margins and overall revenue growth.

FREQUENCY ELECTRONICS INC. reported a significant increase in its consolidated backlog to $111 million as of April 30, 2026, up from $70 million in the prior fiscal year, with 73% expected to be filled in fiscal year 2027. The company continues to rely heavily on U.S. Government contracts, which accounted for 91% of sales in fiscal year 2026, and maintains its focus on satellite payloads, C4ISR, and EW market segments. A corporate restructuring saw FEI-Elcom Tech, Inc. convert to an LLC, with its operations integrated into the FEI-NY segment. The company also highlighted risks associated with its dependence on government funding and a few major customers, as well as supply chain and workforce challenges.

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.

Frequency Electronics, Inc. announced it will host a conference call to discuss its fiscal year 2026 results, which ended April 30, 2026. The call is scheduled for Wednesday, July 15, 2026, at 4:30 PM Eastern Time. Investors and analysts can access the webcast via the company's website or by dialing in using the provided numbers and access code. A telephone replay will be available for one week, and the webcast will be archived on the company's website until October 15, 2026.