FEIM - Frequency Electronics GAAP EPS of -$0.33 revenue of $8.2M

• Frequency Electronics press release ( NASDAQ: FEIM ): Q1 GAAP EPS of -$0.33.
• Revenue of $8.2M (-36.7% Y/Y).
• Backlog at July 31, 2022 was approximately $40 million, the same as at April 30, 2022.
• Despite the challenges, there are some important positive indicators. As stated in previous press releases, orders originally anticipated in the last fiscal year have been delayed, but are now projected for Q2 and Q3 of FY2023. Bookings are well above plan so far this year. Furthermore, it is important to understand that most of the revenue shortfall at this point is temporary, and much will be realized within this fiscal year. The Company is committed to moving towards profitability in the near future.

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