Frequency Electronics, Inc. (FEIM) Financial Statements (2024 and earlier)

Company Profile

Business Address 55 CHARLES LINDBERGH BLVD
MITCHEL FIELD, NY 11553
State of Incorp. DE
Fiscal Year End April 30
Industry (SIC) 3825 - Instruments for Measuring and Testing of Electricity and Electrical Signals (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

10/31/2023
MRQ
4/30/2023
1/31/2023
MRQ
4/30/2022
4/30/2021
4/30/2020
4/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments12,04912,85421,52520,12014,37811,882
Cash and cash equivalents12,04912,85411,5619,8073,8083,683
Short-term investments   9,96410,31310,5708,199
Receivables4,6225,1294,2915,5154,3926,362
Inventory, net of allowances, customer advances and progress billings20,52620,56219,90619,66122,95823,356
Inventory20,52620,56219,90619,66122,95823,356
Prepaid expense 98    
Contract with customer, asset, after allowance for credit loss10,0098,2668,8571,9486,9536,670
Disposal group, including discontinued operation      1,347
Other undisclosed current assets1,1011,0561,4311,4352,5543,082
Total current assets:48,30747,96556,01048,67951,23552,699
Noncurrent Assets
Operating lease, right-of-use asset7,3827,7458,8059,77310,864
Property, plant and equipment7,0937,7338,5649,61211,26713,038
Intangible assets, net (including goodwill), including:617617617617617617
Other undisclosed intangible assets, net (including goodwill)617617617617617617
Disposal group, including discontinued operation, noncurrent assets      202
Other noncurrent assets8778889091,9392,5035,923
Other undisclosed noncurrent assets10,22010,2959,85515,39614,79014,292
Total noncurrent assets:26,18927,27828,75037,33740,04134,072
TOTAL ASSETS:74,49675,24384,76086,01691,27686,771
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities5,3984,9526,4116,3255,4064,759
Employee-related liabilities1,635   
Accounts payable1,4641,5561,0801,0801,4241,188
Accrued liabilities3,9343,3963,6965,2453,9823,571
Deferred revenue18,58618,73711,098  
Debt     4,965 
Disposal group, including discontinued operation      1,078
Other liabilities1,5442,6784,24357748 
Other undisclosed current liabilities1,7531,7511091,7151,869 
Total current liabilities:27,28128,11821,8618,09712,9885,837
Noncurrent Liabilities
Long-term debt and lease obligation:   7,3538,3669,444 
Liabilities, other than long-term debt14,32914,7518,85814,14414,60817,845
Deferred compensation liability, classified8,3148,3578,73014,01714,25814,216
Deferred income tax liabilities88888
Disposal group, including discontinued operation, liabilities      2,253
Other liabilities1241251201193421,376
Operating lease, liability5,8836,2617,3538,3669,444
Total noncurrent liabilities:14,32914,75116,21122,51024,05217,845
Total liabilities:41,61042,86938,07230,60737,04023,682
Equity
Equity, attributable to parent32,88632,37446,68855,40954,23663,089
Common stock9,3749,3549,2989,2269,1649,164
Treasury stock, value(3)(6)(6)(6)(195)(841)
Additional paid in capital49,13648,89357,95657,35556,91456,831
Accumulated other comprehensive income (loss)   (440)29149046
Accumulated deficit(25,621)(25,867)(20,120)(11,457)(12,137)(2,111)
Total equity:32,88632,37446,68855,40954,23663,089
TOTAL LIABILITIES AND EQUITY:74,49675,24384,76086,01691,27686,771

Income Statement (P&L) ($ in thousands)

10/31/2023
TTM
4/30/2023
1/31/2023
TTM
4/30/2022
4/30/2021
4/30/2020
4/30/2019
Revenues40,77737,93348,29654,25441,50749,509
Cost of revenue(32,928)(36,916)(39,697)(37,333)(35,759)(33,720)
Gross profit:7,8491,0178,59916,9215,74815,789
Operating expenses(12,521)(12,014)(16,637)(17,879)(16,670)(18,606)
Operating income (loss):(4,672)(10,997)(8,038)(958)(10,922)(2,817)
Nonoperating income (expense)7453591,561(739)427
Investment income, nonoperating  40199458329293
Other nonoperating income (expense)751601,103(1,068)134
Interest and debt expense(156)(99)(77)(127)(107)(83)
Income (loss) from continuing operations before equity method investments, income taxes:(4,821)(11,051)(7,756)476(11,768)(2,473)
Loss from equity method investments (606)     
Other undisclosed loss from continuing operations before income taxes (1,543)(906)   
Income (loss) from continuing operations before income taxes:(5,427)(12,594)(8,662)476(11,768)(2,473)
Income tax expense (benefit)(74)(3)(1)2041,742(56)
Income (loss) from continuing operations:(5,501)(12,597)(8,663)680(10,026)(2,529)
Income (loss) before gain (loss) on sale of properties:(12,281)(8,663)680(10,026)(2,529)
Net income (loss) available to common stockholders, diluted:(5,501)(12,597)(8,663)680(10,026)(2,529)

Comprehensive Income ($ in thousands)

10/31/2023
TTM
4/30/2023
1/31/2023
TTM
4/30/2022
4/30/2021
4/30/2020
4/30/2019
Net income (loss):(5,501)(12,597)(8,663)680(10,026)(2,529)
Other comprehensive income (loss)440440(731)(199)444961
Other undisclosed comprehensive income (loss) (731)    
Comprehensive income (loss):(5,061)(12,888)(9,394)481(9,582)(1,568)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent 287    
Comprehensive income (loss), net of tax, attributable to parent:(5,061)(12,601)(9,394)481(9,582)(1,568)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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