Frequency Electronics Sees Stock Rise After Positive Q1 Financial Results


Shares of Frequency Electronics have experienced a boost in after-hours trading, following the release of their first-quarter financial results for fiscal year 2024. The report highlights a significant increase in revenue and the company’s successful transition from a loss to a gain.

As of 5:25 p.m. EDT on Thursday, the company’s stock had risen by 10.2%, reaching $7.24 per share. Earlier in the day, the stock had already achieved a 1.3% gain, closing at $6.57 per share.

In the first quarter, Frequency Electronics reported earnings per share of 22 cents, with revenue totaling $12.4 million. This marks a notable improvement from the previous year’s first-quarter performance, which saw a loss per share of 33 cents and revenue of $8.2 million.

Company President and CEO, Tom McClelland, credited the positive results to the implementation of effective cost-cutting plans and a successful management reorganization that had been put into action over the previous year.

Frequency Electronics specializes in the design, development, and manufacturing of high precision timing, frequency generation, and RF control products. These products are utilized in both space and terrestrial applications.

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