MITCHEL FIELD, N.Y., July 15, 2010 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (Nasdaq:FEIM) reported net income for fiscal year 2010, which ended April 30, 2010, of $2.7 million, or $0.33 per diluted share, compared to a net loss of $11.0 million or ($1.33) per diluted share for the prior fiscal year. Revenues for fiscal year 2010 were $49.4 million, compared to $52.7 million for fiscal 2009. Fiscal 2010 operating income was $1.8 million, compared to an operating loss of $5.9 million for the prior fiscal year. Fiscal 2010 results include a net $1.5 million tax benefit after giving effect to an additional $2.0 million tax refund created by a change in tax laws regarding the carryback of net operating losses. Fiscal 2009 results included a net tax provision of $5.3 million after recording a $7.6 million valuation allowance against deferred tax assets.
Frequency Electronics, Inc. Announces Fiscal Year 2010 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.