Frequency Electronics, Inc. reported revenues of approximately $13.8 million for the first quarter ended July 31, 2025, a decrease from $15.1 million reported for the same period of fiscal year 2025. Operating income for the quarter was $0.7 million, down from $2.4 million in the prior year.
Net income for the first quarter of fiscal year 2026 was $0.634 million, or $0.07 per diluted share, compared to $2.4 million, or $0.25 per diluted share, in the first quarter of fiscal year 2025. Management attributed the revenue shortfall to timing and customer-driven delays in program execution.
Concurrently, the company's Board of Directors authorized a new $20 million share repurchase program. This program reflects management's confidence in the company's financial position and future prospects, aiming to enhance shareholder value despite the softer quarterly results. The company continues to invest in quantum sensing and key defense programs.
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