Frequency Electronics (FEIM) 10-Q 13 Sep 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jul. 31, 2024	Sep. 11, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Jul. 31, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Entity Information [Line Items]
Entity Registrant Name	FREQUENCY ELECTRONICS, INC.
Entity Central Index Key	0000039020
Entity File Number	1-8061
Entity Tax Identification Number	11-1986657
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--04-30
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	55 Charles Lindbergh Blvd.
Entity Address, City or Town	Mitchel Field
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11553
Entity Phone Fax Numbers [Line Items]
City Area Code	516
Local Phone Number	794-4500
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock (par value $1.00 per share)
Trading Symbol	FEIM
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		9,566,918

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Current assets:
Cash and cash equivalents	$ 16,201	$ 18,320
Accounts receivable, net of allowances of $110 at July 31, 2024 and April 30, 2024	5,922	4,614
Contract assets	10,817	10,523
Inventories	24,308	23,431
Prepaid income taxes	0	37
Prepaid expenses and other	1,977	1,196
Total current assets	59,225	58,121
Property, plant, and equipment, net	6,304	6,438
Goodwill	617	617
Cash surrender value of life insurance	10,379	10,221
Right-of-use assets – operating leases	5,646	6,036
Restricted cash	1,217	945
Other assets	876	875
Total assets	84,264	83,253
Current liabilities:
Accounts payable – trade	1,553	2,348
Accrued liabilities	4,938	4,765
Loss provision accrual	234	404
Dividend payable	9,567	0
Income taxes payable	79	0
Operating lease liability – current portion	1,468	1,640
Contract liabilities	20,854	21,639
Total current liabilities	38,693	30,796
Deferred compensation	8,050	8,088
Deferred taxes	18	8
Operating lease liability – non-current portion	4,301	4,545
Total liabilities	51,062	43,437
Stockholders’ equity:
Preferred stock - $1.00 par value; authorized 600 shares, no shares issued	0	0
Common stock - $1.00 par value; authorized 20,000 shares, 9,568 shares issued and 9,562 shares outstanding at July 31, 2024; 9,512 shares issued and 9,511 shares outstanding at April 30, 2024	9,568	9,512
Additional paid-in capital	41,296	50,334
Accumulated deficit	(17,597)	(20,027)
Common stock reacquired and held in treasury - at cost (5 shares at July 31, 2024 and 1 share at April 30, 2024)	(65)	(3)
Total stockholders’ equity	33,202	39,816
Total liabilities and stockholders’ equity	$ 84,264	$ 83,253

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Statement of Financial Position [Abstract]
Accounts receivable, allowances (in Dollars)	$ 110	$ 110
Preferred stock, par value (in Dollars per share)	$ 1	$ 1
Preferred stock - shares authorized	600	600
Preferred stock - shares issued	0	0
Common stock, par value (in Dollars per share)	$ 1	$ 1
Common stock shares issued	9,568	9,512
Common stock - authorized shares	20,000	20,000
Common stock - shares outstanding	9,562	9,511
Common stock reacquired and held in treasury - share	5	1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Income Statement [Abstract]
Revenues	$ 15,077	$ 12,408
Cost of revenues	8,379	7,540
Gross margin	6,698	4,868
Selling and administrative expenses	2,845	2,302
Research and development expenses	1,488	506
Operating income	2,365	2,060
Other income (expense):
Income on investments	224	20
Interest expense	(26)	(31)
Income before provision for income taxes	2,563	2,049
Provision for income taxes	133	7
Net income	$ 2,430	$ 2,042
Net income per common share:
Basic and diluted income per share (in Dollars per share)	$ 0.25	$ 0.22
Basic and diluted income per share (in Dollars per share)	$ 0.25	$ 0.22
Weighted average shares outstanding:
Basic and diluted (in Shares)	9,538,339	9,384,375
Basic and diluted (in Shares)	9,538,339	9,384,375

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Cash flows from operating activities:
Net income	$ 2,430	$ 2,042
Non-cash charges to earnings	1,266	1,462
Net changes in operating assets and liabilities	(5,216)	(6,305)
Net cash used in operating activities	(1,520)	(2,801)
Cash flows from investing activities:
Purchase of fixed assets	(327)	(187)
Net cash used in investing activities	(327)	(187)
Cash flows from financing activities:
Net cash used in financing activities	0	0
Net decrease in cash and cash equivalents and restricted cash	(1,847)	(2,988)
Cash and cash equivalents and restricted cash at beginning of period	19,265	12,049
Cash and cash equivalents and restricted cash at end of period	17,418	9,061
Cash paid during the period for:
Interest	27	30
Income Taxes	$ 7	$ 4

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Total
Balance at Apr. 30, 2023	$ 9,374	$ 49,136	$ (25,621)	$ (3)	$ 32,886
Balance (in Shares) at Apr. 30, 2023	9,373,776			741
Contribution of stock to 401(k) plan	$ 17	96			$ 113
Contribution of stock to 401(k) plan (in Shares)	17,013				17,013
Stock-based compensation expense		128			$ 128
Net income			2,042		2,042
Balance at Jul. 31, 2023	$ 9,391	49,360	(23,579)	$ (3)	35,169
Balance (in Shares) at Jul. 31, 2023	9,390,789			741
Balance at Apr. 30, 2024	$ 9,512	50,334	(20,027)	$ (3)	39,816
Balance (in Shares) at Apr. 30, 2024	9,511,560			741
Contribution of stock to 401(k) plan	$ 26	215			$ 241
Contribution of stock to 401(k) plan (in Shares)	26,457				26,457
Stock-based compensation expense	$ 28	316			$ 344
Stock-based compensation expense (in Shares)	27,815
Shares withheld on employee taxes on vested equity awards				$ (62)	(62)
Shares withheld on employee taxes on vested equity awards (in Shares)				4,569
Exercise of stock options and stock appreciation rights - net of shares tendered for exercise price	$ 2	(2)
Exercise of stock options and stock appreciation rights - net of shares tendered for exercise price (in Shares)	1,819
Dividends payable		(9,567)			(9,567)
Net income			2,430		2,430
Balance at Jul. 31, 2024	$ 9,568	$ 41,296	$ (17,597)	$ (65)	$ 33,202
Balance (in Shares) at Jul. 31, 2024	9,567,651			5,310

CONDENSED CONSOLIDATED FINANCIA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	3 Months Ended
	Jul. 31, 2024
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE A – CONDENSED CONSOLIDATED FINANCIAL STATEMENTS In the opinion of management of Frequency Electronics, Inc. (the “Company”), the accompanying unaudited condensed consolidated interim financial statements reflect all adjustments (which include only normal recurring adjustments) necessary to present fairly, in all material respects, the condensed consolidated financial position of the Company as of July 31, 2024 and the results of its operations, changes in stockholders’ equity for the three months ended July 31, 2024 and 2023, and cash flows for the three months ended July 31, 2024 and 2023. The April 30, 2024 condensed consolidated balance sheet was derived from audited financial statements. These financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These condensed consolidated interim financial statements should be read in conjunction with the annual consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2024, filed on August 2, 2024 with the Securities and Exchange Commission (the “Form 10-K”). The results of operations for such interim periods are not necessarily indicative of the operating results for the full fiscal year.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Jul. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE B – EARNINGS PER SHARE Reconciliation of the weighted average shares outstanding for basic and diluted income per share (“EPS”) for the three months ended July 31, 2024 and 2023, respectively, were as follows: Three months ended July 31, 2024 2023 Weighted average shares outstanding: Basic EPS shares outstanding (weighted average) 9,538,339 9,384,375 Effect of dilutive securities ** ** Diluted EPS shares outstanding 9,538,339 9,384,375 ** For the three months ended July 31, 2024 and 2023, dilutive securities are excluded from the calculation of EPS since the inclusion of such shares would be antidilutive. The exercisable shares excluded for the three months ended July 31, 2024 were 76,000 shares. The exercisable shares excluded for the three months ended July 31, 2023 were 155,000 shares. On July 22, 2024 the Company’s Board of Directors declared a special cash dividend of $1.00 per share of common stock. The special dividend was paid on August 29, 2024, to stockholders of record as of the close of business on August 8, 2024. The total amount of the special dividend payment was approximately $9.6 million.

CONTRACT ASSETS AND LIABILITIES

CONTRACT ASSETS AND LIABILITIES	3 Months Ended
	Jul. 31, 2024
Contractors [Abstract]
Long-Term Contracts or Programs Disclosure [Text Block]	NOTE C – CONTRACT ASSETS AND LIABILITIES Contract assets primarily relate to the Company’s rights to consideration for work completed but not billed at the reporting date on contracts with customers. Contract assets are transferred to accounts receivable when the rights become unconditional. Contract liabilities primarily relate to contracts where advance payments or deposits have been received, but performance obligations have not yet been satisfied, and therefore, revenue has not been recognized. During the three months ended July 31, 2024, we recognized $7.7 million of our contract liabilities at April 30, 2024 as revenue. During the three months ended July 31, 2023, we recognized $3.7 million of our contract liabilities at April 30, 2023 as revenue. If contract losses are anticipated, a loss provision is recorded for the full amount of such losses when they are determinable. Total contract losses for three months ended July 31, 2024 and 2023 were approximately $6,000 and $139,000, respectively. The liability for contract losses is presented as loss provision accrual within the consolidated balance sheets.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Jul. 31, 2024
Disclosure Text Block Supplement [Abstract]
Compensation and Employee Benefit Plans [Text Block]	NOTE D –EMPLOYEE BENEFIT PLANS During the three months ended July 31, 2024, the Company made contributions of 26,457 shares of its common stock to the Company’s profit-sharing plan and trust under Section 401(k) of the Internal Revenue Code. During the three months ended July 31, 2023, the Company made contributions of 17,013 shares of its common stock to the Company’s profit-sharing plan and trust under Section 401(k) of the Internal Revenue Code. Such contributions are in accordance with the Company’s discretionary match of employee voluntary contributions to this plan. Deferred compensation expense charged to selling and administrative expenses during the three months ended July 31, 2024, was approximately $143,000, inclusive of approximately $27,000 of interest expense. Payments made related to deferred compensation were approximately $179,000 for the same period. Deferred compensation expense charged to selling and administrative expenses during the three months ended July 31, 2023, was approximately $138,000, inclusive of approximately $38,000 of interest expense. Payments made related to deferred compensation were approximately $185,000 for the same period.

INVENTORIES

INVENTORIES	3 Months Ended
	Jul. 31, 2024
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	NOTE E – INVENTORIES Inventories, which are reported at the lower of cost and net realizable value, consisted of the following (in thousands): July 31, 2024 April 30, 2024 Raw materials and component parts $ 15,218 $ 14,939 Work in progress 8,627 8,035 Finished goods 463 457 $ 24,308 $ 23,431

RIGHT-OF-USE ASSETS AND LEASE L

RIGHT-OF-USE ASSETS AND LEASE LIABILITIES	3 Months Ended
	Jul. 31, 2024
Disclosure Text Block [Abstract]
Lessee, Operating Leases [Text Block]	NOTE F – RIGHT-OF-USE ASSETS AND LEASE LIABILITIES The Company’s leases primarily represent offices, warehouses, vehicles, manufacturing facilities and Research and Development (“R&D”) facilities which expire at various times through 2029 and are operating leases. Contractual arrangements are evaluated at inception to determine if the agreement contains a lease. The Company elected the practical expedient for short-term leases which allows leases with terms of 12 months or less to be recorded on a straight-line basis over the lease term without being recognized on the consolidated balance sheets. The table below presents ROU assets and liabilities recorded on the respective consolidated balance sheets as follows (in thousands): July 31, 2024 April 30, 2024 Assets Right-of-use assets - operating leases $ 5,646 $ 6,036 Liabilities Operating lease liabilities, current portion 1,468 1,640 Operating lease liabilities, non-current portion 4,301 4,545 Total lease liabilities $ 5,769 $ 6,185 Total operating lease expense was $0.5 million for both the three months ended July 31, 2024 and 2023, the majority of which is included in cost of revenues and the remaining amount in selling and administrative expenses on the unaudited condensed consolidated statements of operations. The table below reconciles the undiscounted cash flows for each of the first four fiscal years and total of the remaining fiscal years to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet as of July 31, 2024: Fiscal Year Ending April 30, ( ) Remainder of 2025 $ 1,175 2026 1,363 2027 964 2028 1,262 2029 1,389 Thereafter 587 Total lease payments 6,740 Less imputed interest (971 ) Present value of future lease payments 5,769 Less current obligations under leases (1,468 ) Long-term lease obligations 4,301 As of July 31, 2024 and 2023, the weighted-average remaining lease term for all operating leases was 4.81 years and 5.43 years, respectively. The Company does not generally have access to the rate implicit in the leases and therefore selected a rate that is reflective of companies with similar credit ratings for secured debt as the discount rate. The weighted average discount rate for operating leases as of July 31, 2024 and 2023, was 6.34% and 6.23%, respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Jul. 31, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE G – SEGMENT INFORMATION The Company operates under two reportable segments based on the geographic locations of its subsidiaries: (1) FEI-NY – operates out of New York and its operations consist principally of precision time and frequency control products used in three principal markets: communication satellites (both commercial and U.S. Government-funded); terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S. military. The FEI-NY segment also includes the operations of the Company’s wholly owned subsidiary, FEI-Elcom. FEI-Elcom, in addition to its own product line, provides design and technical support for the FEI-NY segment’s communication satellite business. (2) FEI-Zyfer – operates out of California and its products incorporate Global Positioning System (GPS) technologies into systems and subsystems for secure communications, both government and commercial, and other locator applications. This segment also provides sales and support for the Company’s wireline telecommunications family of products, including US5G, which are sold in the U.S. market. The Company measures segment performance based on total revenues and profits generated by each geographic location rather than on the specific types of customers or end-users. Consequently, the Company determined that the segments indicated above most appropriately reflect the way the Company’s management views the business. The accounting policies of the two segments are the same as those described in “Note 1. Summary of Accounting Policies” to the consolidated financial statements included in the Form 10-K. The Company evaluates the performance of its segments and allocates resources to them based on operating profit (loss), which is defined as income before income on investments, interest expense, and taxes. All acquired assets, including intangible assets, are included in the assets of the applicable reporting segment. The tables below present information about reported segments with reconciliation of segment amounts to consolidated amounts as reported in the condensed consolidated statements of operations or the consolidated balance sheets for each of the periods (in thousands): Three Months Ended July 31, 2024 2023 Revenues: FEI-NY $ 10,975 $ 9,490 FEI-Zyfer 4,272 3,267 less intersegment revenues (170 ) (349 ) Consolidated revenues $ 15,077 $ 12,408 Operating income: FEI-NY $ 1,377 $ 1,481 FEI-Zyfer 1,140 678 less intersegment margin (15 ) (61 ) Corporate (137 ) (38 ) Consolidated operating income $ 2,365 $ 2,060 July 31, 2024 April 30, 2024 Identifiable assets: FEI-NY $ 38,641 $ 36,512 FEI-Zyfer 15,683 15,696 less intersegment balances (252 ) (237 ) Corporate 30,192 31,282 Consolidated identifiable assets $ 84,264 $ 83,253 Total revenue recognized over time as Percentage of Completion (“POC”) and Passage of Title (“POT”) was approximately $14.5 million and $0.6 million, respectively, of the $15.1 million reported for the three months ended July 31, 2024. Total revenue recognized over time as POC and POT was approximately $11.7 million and $0.7 million, respectively, of the $12.4 million reported for the three months ended July 31, 2023. The amounts by segment and product line were as follows (in thousands): Three Months Ended July 31, 2024 2023 POC POT Total POC POT Total Revenue Revenue Revenue Revenue Revenue Revenue FEI-NY $ 10,507 $ 468 $ 10,975 $ 8,675 $ 815 $ 9,490 FEI-Zyfer 4,001 271 4,272 3,047 220 3,267 Intersegment - (170 ) (170 ) - (349 ) (349 ) Revenue $ 14,508 $ 569 $ 15,077 $ 11,722 $ 686 $ 12,408 Three Months Ended July 31, 2024 2023 Revenues by product line: Satellite revenue $ 8,263 $ 4,858 Government non-space revenue 6,270 6,878 Other commercial & industrial revenue 544 672 Consolidated revenues $ 15,077 $ 12,408

INVESTMENT IN MORION, INC.

INVESTMENT IN MORION, INC.	3 Months Ended
	Jul. 31, 2024
Schedule of Investments [Abstract]
Investment Holdings [Text Block]	NOTE H – INVESTMENT IN MORION, INC. The Company has an investment in Morion, a privately-held Russian company, which manufactures high precision quartz resonators and crystal oscillators. The Company has also licensed certain technology to Morion. The Company’s investment consists of 4.6% of Morion’s outstanding shares. However, due to the Russia Ukraine conflict and resulting sanctions the future status of FEI’s investment in Morion became uncertain and accordingly, such investment was written of in fiscal year 2022. The carrying value of this investment is $0 as of July 31, 2024 and April 30, 2024. During the three months ended July 31, 2024 and 2023, the Company did not acquire any product from Morion. During the three months ended July 31, 2024 and 2023, the Company did not receive dividends from Morion. Purchases of materials from Morion consist mainly of quartz crystal blanks which are used in the fabrication of quartz resonators. In the event that these items become unavailable from Morion, the Company is in the process of establishing alternate sources of supply. The Company is also capable of fabricating the crystal blanks in-house.

RESTRICTED CASH

RESTRICTED CASH	3 Months Ended
	Jul. 31, 2024
Disclosure Text Block Supplement [Abstract]
Restricted Assets Disclosure [Text Block]	NOTE I – RESTRICTED CASH As of July 31, 2024 restricted cash consisted of approximately $1.2 million related to a letter of credit required for contractual restrictions during the period of performance for one of the Company’s contracts. As of April 30, 2024 restricted cash consisted of approximately $945,000 related to a letter of credit required for contractual restrictions during the period of performance for one of the Company’s contracts. Restricted cash is classified as current or non-current based on the remaining performance period of the contract. A reconciliation of cash and cash equivalents and restricted cash from the condensed consolidated balance sheets to the condensed consolidated statements of cash flows is shown below (in thousands): July 31, 2024 April 30, 2024 Cash and cash equivalents $ 16,201 $ 18,320 Restricted cash 1,217 945 Total cash and cash equivalents and restricted cash $ 17,418 $ 19,265

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Jul. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE J – RECENT ACCOUNTING PRONOUNCEMENTS In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which expands on the required disclosure of incremental segment information. The new guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the effect on its consolidated financial statements when adopted in fiscal year 2025 but does not expect the effect to be material. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires companies to annually disclose categories in the effective tax rate reconciliation and additional information about income taxes paid. The new guidance is effective for annual periods beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is in the process of evaluating the impact that the adoption of ASU No. 2023-09 will have to the financial statements and related disclosures.

DEFERRED INCOME TAXES

DEFERRED INCOME TAXES	3 Months Ended
	Jul. 31, 2024
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE K – DEFERRED INCOME TAXES Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. As required by the authoritative guidance on accounting for income taxes, we evaluate the realization of deferred tax assets on a jurisdictional basis at each reporting date. We consider all positive and negative evidence, including the reversal of deferred tax liabilities, projected future taxable income, tax planning strategies, and results of recent operations. Accounting for income taxes requires that a valuation allowance be established when it is more likely than not that all or a portion of the deferred tax assets will not be realized. In circumstances where there is sufficient negative evidence indicating that the deferred tax assets will not be realizable, we establish a valuation allowance. As of July 31, 2024, and April 30, 2024, the Company maintained a full valuation allowance against its deferred tax assets. If these estimates and assumptions change in the future, the Company may be required to adjust its existing valuation allowance resulting in changes to deferred income tax expense. It is reasonably possible the existing valuation allowance will be reduced within the next 12 months.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 2,430	$ 2,042

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jul. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Jul. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Reconciliation of the weighted average shares outstanding for basic and diluted income per share (“EPS”) for the three months ended July 31, 2024 and 2023, respectively, were as follows: Three months ended July 31, 2024 2023 Weighted average shares outstanding: Basic EPS shares outstanding (weighted average) 9,538,339 9,384,375 Effect of dilutive securities ** ** Diluted EPS shares outstanding 9,538,339 9,384,375 ** For the three months ended July 31, 2024 and 2023, dilutive securities are excluded from the calculation of EPS since the inclusion of such shares would be antidilutive. The exercisable shares excluded for the three months ended July 31, 2024 were 76,000 shares. The exercisable shares excluded for the three months ended July 31, 2023 were 155,000 shares.

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Jul. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories, which are reported at the lower of cost and net realizable value, consisted of the following (in thousands): July 31, 2024 April 30, 2024 Raw materials and component parts $ 15,218 $ 14,939 Work in progress 8,627 8,035 Finished goods 463 457 $ 24,308 $ 23,431

RIGHT-OF-USE ASSETS AND LEASE_2

RIGHT-OF-USE ASSETS AND LEASE LIABILITIES (Tables)	3 Months Ended
	Jul. 31, 2024
Disclosure Text Block [Abstract]
Lease, Cost [Table Text Block]	The table below presents ROU assets and liabilities recorded on the respective consolidated balance sheets as follows (in thousands): July 31, 2024 April 30, 2024 Assets Right-of-use assets - operating leases $ 5,646 $ 6,036 Liabilities Operating lease liabilities, current portion 1,468 1,640 Operating lease liabilities, non-current portion 4,301 4,545 Total lease liabilities $ 5,769 $ 6,185
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	The table below reconciles the undiscounted cash flows for each of the first four fiscal years and total of the remaining fiscal years to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet as of July 31, 2024: Fiscal Year Ending April 30, ( ) Remainder of 2025 $ 1,175 2026 1,363 2027 964 2028 1,262 2029 1,389 Thereafter 587 Total lease payments 6,740 Less imputed interest (971 ) Present value of future lease payments 5,769 Less current obligations under leases (1,468 ) Long-term lease obligations 4,301

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Jul. 31, 2024
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	The tables below present information about reported segments with reconciliation of segment amounts to consolidated amounts as reported in the condensed consolidated statements of operations or the consolidated balance sheets for each of the periods (in thousands): Three Months Ended July 31, 2024 2023 Revenues: FEI-NY $ 10,975 $ 9,490 FEI-Zyfer 4,272 3,267 less intersegment revenues (170 ) (349 ) Consolidated revenues $ 15,077 $ 12,408
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Operating income: FEI-NY $ 1,377 $ 1,481 FEI-Zyfer 1,140 678 less intersegment margin (15 ) (61 ) Corporate (137 ) (38 ) Consolidated operating income $ 2,365 $ 2,060
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	July 31, 2024 April 30, 2024 Identifiable assets: FEI-NY $ 38,641 $ 36,512 FEI-Zyfer 15,683 15,696 less intersegment balances (252 ) (237 ) Corporate 30,192 31,282 Consolidated identifiable assets $ 84,264 $ 83,253
Disaggregation of Revenue [Table Text Block]	The amounts by segment and product line were as follows (in thousands): Three Months Ended July 31, 2024 2023 POC POT Total POC POT Total Revenue Revenue Revenue Revenue Revenue Revenue FEI-NY $ 10,507 $ 468 $ 10,975 $ 8,675 $ 815 $ 9,490 FEI-Zyfer 4,001 271 4,272 3,047 220 3,267 Intersegment - (170 ) (170 ) - (349 ) (349 ) Revenue $ 14,508 $ 569 $ 15,077 $ 11,722 $ 686 $ 12,408
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended July 31, 2024 2023 Revenues by product line: Satellite revenue $ 8,263 $ 4,858 Government non-space revenue 6,270 6,878 Other commercial & industrial revenue 544 672 Consolidated revenues $ 15,077 $ 12,408

RESTRICTED CASH (Tables)

RESTRICTED CASH (Tables)	3 Months Ended
	Jul. 31, 2024
Disclosure Text Block Supplement [Abstract]
Restrictions on Cash and Cash Equivalents [Table Text Block]	A reconciliation of cash and cash equivalents and restricted cash from the condensed consolidated balance sheets to the condensed consolidated statements of cash flows is shown below (in thousands): July 31, 2024 April 30, 2024 Cash and cash equivalents $ 16,201 $ 18,320 Restricted cash 1,217 945 Total cash and cash equivalents and restricted cash $ 17,418 $ 19,265

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - $ / shares	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
EARNINGS PER SHARE (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	76,000	155,000
Dividend Declared [Member]
EARNINGS PER SHARE (Details) [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 1
Dividends Payable, Date to be Paid	Aug. 29, 2024
Dividends Payable, Date of Record	Aug. 08, 2024
Common Stock, Dividends, Per Share, Cash Paid	$ 9,600,000

EARNINGS PER SHARE (Details) -

EARNINGS PER SHARE (Details) - Schedule of Earnings Per Share, Basic and Diluted - shares		3 Months Ended
		Jul. 31, 2024	Jul. 31, 2023
Weighted average shares outstanding:
Basic EPS shares outstanding (weighted average)		9,538,339	9,384,375
Effect of dilutive securities	[1]
Diluted EPS shares outstanding		9,538,339	9,384,375
[1]For the three months ended July 31, 2024 and 2023, dilutive securities are excluded from the calculation of EPS since the inclusion of such shares would be antidilutive. The exercisable shares excluded for the three months ended July 31, 2024 were 76,000 shares. The exercisable shares excluded for the three months ended July 31, 2023 were 155,000 shares.

CONTRACT ASSETS AND LIABILITI_2

CONTRACT ASSETS AND LIABILITIES (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
CONTRACT ASSETS AND LIABILITIES (Details) [Line Items]
Revenues	$ 15,077,000	$ 12,408,000
Loss on Contracts	6,000	139,000
Contract Liabilities [Member]
CONTRACT ASSETS AND LIABILITIES (Details) [Line Items]
Revenues	$ 7,700,000	$ 3,700,000

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
EMPLOYEE BENEFIT PLANS (Details) [Line Items]
Stock Issued During Period, Shares, Employee Benefit Plan (in Shares)	26,457	17,013
Deferred Compensation Arrangement with Individual, Compensation Expense	$ 143,000	$ 138,000
Deferred Compensation Arrangement with Individual, Distribution Paid	179,000	185,000
Interest Expense [Member]
EMPLOYEE BENEFIT PLANS (Details) [Line Items]
Deferred Compensation Arrangement with Individual, Compensation Expense	$ 27,000	$ 38,000

INVENTORIES (Details) - Schedul

INVENTORIES (Details) - Schedule of Inventory, Current - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Schedule Of Inventory Current Abstract
Raw materials and component parts	$ 15,218	$ 14,939
Work in progress	8,627	8,035
Finished goods	463	457
Inventories	$ 24,308	$ 23,431

RIGHT-OF-USE ASSETS AND LEASE_3

RIGHT-OF-USE ASSETS AND LEASE LIABILITIES (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Disclosure Text Block [Abstract]
Operating Lease, Expense	$ 0.5	$ 0.5
Operating Lease, Weighted Average Remaining Lease Term	4 years 9 months 21 days	5 years 5 months 4 days
Operating Lease, Weighted Average Discount Rate, Percent	6.34%	6.23%

RIGHT-OF-USE ASSETS AND LEASE_4

RIGHT-OF-USE ASSETS AND LEASE LIABILITIES (Details) - Lease, Cost - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Assets
Right-of-use assets - operating leases	$ 5,646	$ 6,036
Liabilities
Operating lease liabilities, current portion	1,468	1,640
Operating lease liabilities, non-current portion	4,301	4,545
Total lease liabilities	$ 5,769	$ 6,185

RIGHT-OF-USE ASSETS AND LEASE_5

RIGHT-OF-USE ASSETS AND LEASE LIABILITIES (Details) - Lessee, Operating Lease, Liability, Maturity - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Lessee Operating Lease Liability Maturity Abstract
Remainder of 2025	$ 1,175
2026	1,363
2027	964
2028	1,262
2029	1,389
Thereafter	587
Total lease payments	6,740
Less imputed interest	(971)
Present value of future lease payments	5,769	$ 6,185
Less current obligations under leases	(1,468)	(1,640)
Long-term lease obligations	$ 4,301	$ 4,545

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended
	Jul. 31, 2024 USD ($)	Jul. 31, 2023 USD ($)
SEGMENT INFORMATION (Details) [Line Items]
Number of Reportable Segments	2
Number Of Principal Markets	3
Revenues	$ 15,077	$ 12,408
POC Revenue [Member]
SEGMENT INFORMATION (Details) [Line Items]
Revenues	14,508	11,722
POT Revenue [Member]
SEGMENT INFORMATION (Details) [Line Items]
Revenues	$ 569	$ 686

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - Reconciliation of Revenue from Segments to Consolidated - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 15,077	$ 12,408
Frequency Electronics Inc New York [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	10,975	9,490
Frequency Electronics Inc Zyfer [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4,272	3,267
Inter Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ (170)	$ (349)

SEGMENT INFORMATION (Details_2

SEGMENT INFORMATION (Details) - Reconciliation of Operating Profit (Loss) from Segments to Consolidated - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Operating income:
Consolidated operating income	$ 2,365	$ 2,060
Frequency Electronics Inc New York [Member]
Operating income:
Consolidated operating income	1,377	1,481
Frequency Electronics Inc Zyfer [Member]
Operating income:
Consolidated operating income	1,140	678
Inter Segment [Member]
Operating income:
Consolidated operating income	(15)	(61)
Corporate Segment [Member]
Operating income:
Consolidated operating income	$ (137)	$ (38)

SEGMENT INFORMATION (Details_3

SEGMENT INFORMATION (Details) - Schedule of Reconciliation of Assets from Segment to Consolidated - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	$ 84,264	$ 83,253
Frequency Electronics Inc New York [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	38,641	36,512
Frequency Electronics Inc Zyfer [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	15,683	15,696
Inter Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	(252)	(237)
Corporate Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	$ 30,192	$ 31,282

SEGMENT INFORMATION (Details_4

SEGMENT INFORMATION (Details) - Disaggregation of Revenue - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 15,077	$ 12,408
POC Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	14,508	11,722
POT Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	569	686
Frequency Electronics Inc New York [Member]
Disaggregation of Revenue [Line Items]
Revenue	10,975	9,490
Frequency Electronics Inc New York [Member] | POC Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	10,507	8,675
Frequency Electronics Inc New York [Member] | POT Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	468	815
Frequency Electronics Inc Zyfer [Member]
Disaggregation of Revenue [Line Items]
Revenue	4,272	3,267
Frequency Electronics Inc Zyfer [Member] | POC Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	4,001	3,047
Frequency Electronics Inc Zyfer [Member] | POT Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	271	220
Inter Segment [Member]
Disaggregation of Revenue [Line Items]
Revenue	(170)	(349)
Inter Segment [Member] | POT Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ (170)	$ (349)

SEGMENT INFORMATION (Details_5

SEGMENT INFORMATION (Details) - Revenue from External Customers by Products and Services - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Revenue from External Customer [Line Items]
Revenue	$ 15,077	$ 12,408
Satellite Revenue [Member]
Revenue from External Customer [Line Items]
Revenue	8,263	4,858
Government Non-Space Revenue [Member]
Revenue from External Customer [Line Items]
Revenue	6,270	6,878
Other Commercial & Industrial Revenue [Member]
Revenue from External Customer [Line Items]
Revenue	$ 544	$ 672

INVESTMENT IN MORION, INC. (Det

INVESTMENT IN MORION, INC. (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
INVESTMENT IN MORION, INC. (Details) [Line Items]
Investments	$ 0	$ 0
Morion Inc [Member]
INVESTMENT IN MORION, INC. (Details) [Line Items]
Cost Method Investment Ownership Percentage	4.60%	4.60%

RESTRICTED CASH (Details)

RESTRICTED CASH (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Disclosure Text Block Supplement [Abstract]
Restricted Cash	$ 1,200,000	$ 945,000

RESTRICTED CASH (Details) - Rec

RESTRICTED CASH (Details) - Reconciliation of Cash and Cash Equivalents And Restricted Cash - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024	Jul. 31, 2023	Apr. 30, 2023
Reconciliation Of Cash And Cash Equivalents And Restricted Cash Abstract
Cash and cash equivalents	$ 16,201	$ 18,320
Restricted cash	1,217	945
Total cash and cash equivalents and restricted cash	$ 17,418	$ 19,265	$ 9,061	$ 12,049