Frequency Electronics, Inc. (FEIM) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings, and welcome to the Frequency Electronics second quarter fiscal 2026 earnings release conference call. At this time, all participants are in a listen-only mode. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I will now turn the conference over to your host, Thomas McClelland, President and Chief Executive Officer. Sir, the floor is yours. Good afternoon. and thank you for joining Frequency Electronics' second quarter fiscal year 2026 earnings call. With me today is our Chief Financial Officer, Steve Bernstein. On our first quarter fiscal 2026 earnings call in September, I discussed two near-term factors that produced a quarter with lower revenue than recent trend levels suggested. The first factor was that strong execution in fiscal 2025 allowed the company to produce revenue on certain programs in fiscal 2025 that we had originally expected to produce over a more extended period of time in fiscal 2026, essentially pulling forward some revenue. The second factor was customer-driven delays on a few key programs that pushed revenue recognition out of the fiscal first quarter. Despite those issues, I noted on that call that six weeks into the second quarter, we saw that those delays were behind us making significant progress towards a bigger book of business. I'm pleased to report on today's call that our second quarter performance was very strong across a number of key metrics as we resumed our revenue uptrend and have numerous proof points to support our belief that this will be a strong multi-year growth period for the company. Steve will provide more financial details later in the call, but I want to take a few moments to highlight severa...