Frequency Electronics, Inc. Reports Solid Q2 2023 Results with Net Income of $2.04 Million
Company Records Robust Revenue Growth, Reaching $12.41 Million
By NewsInMInutes
Published - Sep 14, 2023, 04:32 PM ET
Last Updated - Sep 14, 2023, 04:32 PM EDT
Frequency Electronics, Inc. (FEIM) and its subsidiaries have release d their condensed consolidated financial statements for the second quarter of 2023, ended July 31st. The report highlights impressive financial performance, with significant increases in both revenue and net income compared to the same period last year.
Revenue Growth
FEI reported revenues of $12.41 million for the three months ending July 31, 2023, marking a substantial increase compared to $8.20 million in the same period in 2022. This remarkable growth represents a 51% year-over-year increase in revenue.
Net Income Turnaround
