Overview
US timing equipment maker's Q3 revenue fell 11% yr/yr to $16.9 mln
Q3 net income dropped sharply from prior year
Outlook
Company expects cash position to improve through current quarter, remains debt-free
Result Drivers
LARGE CONTRACT WINS - Co said recent $45 mln in new contracts, among the largest in its history, contributed to near-term growth and record backlog
CORE TECHNOLOGIES - Co attributed current business strength to demand for its core space and defense technologies
Company press release: ID:nGNX1m1Bd5
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $16.89 mln | $20.03 mln (2 Analysts) |
Q3 Net Income | $1.57 mln | ||
Q3 Pretax Profit | Miss | $1.44 mln | $3.72 mln (2 Analysts) |
Q3 Operating Income | $1.27 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for Frequency Electronics Inc is $44.00, about 18.7% below its March 10 closing price of $54.15
The stock recently traded at 49 times the next 12-month earnings vs. a P/E of 25 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)