This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Frequency Electronics: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Frequency Electronics (FEIM - Get Report) surged in late trades on Wednesday after the maker of synchronization technology products for satellites and aircraft reported its fiscal 2011 results and gave a bullish outlook for fiscal 2012.

"The outlook for Frequency Electronics continues to be extremely positive," the company said in its press release after posting a profit of $6 million, or 72 cents a share, for the year with revenue rising 8% to $53.2 million. "We anticipate continued high levels of funding on our major DOD contracts because they support mission-critical programs. For fiscal 2012, we expect strong revenue growth and increasing profitability."

The latest results included a gain of $3.7 million from the reversal of a deferred tax valuation allowance.

The stock was last quoted at $11.20, up 16.5%, on volume of around 45,000, according to Based on Tuesday's regular session close at $9.61, the shares were up 38% so far in 2011.

Frequency Electronics, based in Mitchel Field, N.Y., isn't covered by any analysts, according to Thomson Reuters data. The company said its backlog has reached a "record" high of $70.8 million as of the fiscal year's end on April 30, and that revenue from space programs continues to improve, along with gross margins, which rose to 37.5% from 36%.

Other stocks active in Wednesday's extended session included Yum! Brands (YUM - Get Report), which gained 2.4% to $56.93 on volume of 1.15 million after the operator of KFC, Pizza Hut and Taco Bell restaurants posted better than expected quarterly results because of strong sales in China; and Marriott International (MAR - Get Report), which fell 4.3% to $35.55 on volume of around 330,000 after the hotel operator gave a disappointing revPAR outlook.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to:
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FEIM $9.95 -0.80%
MAR $69.27 0.06%
YUM $80.83 0.22%
AAPL $93.21 -0.44%
FB $117.80 -0.22%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs