04:18 PM EDT, 03/11/2026 (MT Newswires) -- Frequency Electronics ( FEIM ) reported fiscal Q3 net income late Wednesday of $0.16 per diluted share, down from $1.60 a year ago.

Two analysts polled by FactSet expected $0.31.

Revenue for the quarter ended Jan. 31 was $16.9 million, down from $18.9 million a year earlier.

Two analysts surveyed by FactSet expected $19.1 million.

Separately, Frequency Electronics ( FEIM ) said Wednesday it was awarded two contracts for satellite programs valued at approximately $45 million in total. One contract is in the domain of its traditional space satellite programs, and one is part of the new proliferated satellite paradigm, the company said.

The company said it expects this new business to enter funded backlog in fiscal Q4 of 2026. Frequency Electronics ( FEIM ) added that it expects more contract wins in this calendar year.