Frequency Electronics, Inc. Announces Fourth Quarter Fiscal Year 2021 Results Revenue Increases 31% Year-Over-Year and 53% Over Q4 Fiscal Year 2020

MITCHEL FIELD, N.Y., June 29, 2021 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is reporting revenues for the fiscal year ended April 30, 2021, of $54.3 million, compared to revenues of $41.5 million for fiscal 2020, ended April 30, 2020. Revenues for the three months ended April 30, 2021 and 2020 were $15.6 million and $10.2 million, respectively. Operating loss for fiscal year 2021 was $958,000 compared to an operating loss of $10.9 million for fiscal year 2020. Operating income for the three months ended April 30, 2021 was $100,000 compared to an operating loss of $3.7 million for the three months ended April 30, 2020. Net income for fiscal year 2021 was $680,000 or $0.07 per diluted share compared to net losses of $10.0 million or ($1.10) per share for fiscal year 2020. Net income for the three months ended April 30, 2021 was $1.4 million or $0.15 per diluted share compared to net loss of $3.0 million or ($0.33) per share for the three months ended April 30, 2020. Read More

from Financial Post https://ift.tt/3y1tv8U