Frequency Electronics (FEIM) shares rose 8% on Monday after the provider of precision time and frequency technology provided a positive outlook after reporting an unchanged loss per share of $0.01 in the fiscal Q4.
In the quarter ended April 30, revenue fell to $14.2 million from $19.2 million. No analyst estimates were available for comparison.
“Principal customers in the satellite industry tell us they expect an upturn in contract awards to become evident later in this current calendar year,” chairman Joel Girsky said. “Accordingly we anticipate a return to accelerating growth in bookings and revenues as that cyclical upturn occurs.”
