2024 Q3 Form 10-Q Financial Statement

#000118518524000882 Filed on September 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2023 Q3
Revenue $15.08M $12.41M
YoY Change 21.51% 51.24%
Cost Of Revenue $8.379M $7.540M
YoY Change 11.13% -8.15%
Gross Profit $6.698M $4.868M
YoY Change 37.59% -97460.0%
Gross Profit Margin 44.43% 39.23%
Selling, General & Admin $2.845M $2.302M
YoY Change 23.59% 15.56%
% of Gross Profit 42.48% 47.29%
Research & Development $1.488M $506.0K
YoY Change 194.07% -54.41%
% of Gross Profit 22.22% 10.39%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.333M $2.808M
YoY Change 54.31% -9.48%
Operating Profit $2.365M $2.060M
YoY Change 14.81% -166.3%
Interest Expense $198.0K $31.00K
YoY Change 538.71% -31.11%
% of Operating Profit 8.37% 1.5%
Other Income/Expense, Net $20.00K
YoY Change
Pretax Income $2.563M $2.049M
YoY Change 25.09% -165.76%
Income Tax $133.0K $7.000K
% Of Pretax Income 5.19% 0.34%
Net Earnings $2.430M $2.042M
YoY Change 19.0% -165.51%
Net Earnings / Revenue 16.12% 16.46%
Basic Earnings Per Share $0.25 $0.22
Diluted Earnings Per Share $0.25 $0.22
COMMON SHARES
Basic Shares Outstanding 9.537M shares 9.390M shares
Diluted Shares Outstanding 9.538M shares 9.384M shares

Balance Sheet

Concept 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.20M $9.061M
YoY Change 78.8% -48.13%
Cash & Equivalents $16.20M $9.061M
Short-Term Investments
Other Short-Term Assets $1.977M $1.185M
YoY Change 66.84% -26.58%
Inventory $24.31M $22.60M
Prepaid Expenses
Receivables $16.74M $6.385M
Other Receivables $0.00 $0.00
Total Short-Term Assets $59.23M $50.26M
YoY Change 17.83% -7.61%
LONG-TERM ASSETS
Property, Plant & Equipment $11.95M $6.778M
YoY Change 76.31% -19.84%
Goodwill $617.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.09M $876.0K
YoY Change 1394.18% -2.67%
Total Long-Term Assets $25.04M $25.71M
YoY Change -2.6% -9.58%
TOTAL ASSETS
Total Short-Term Assets $59.23M $50.26M
Total Long-Term Assets $25.04M $25.71M
Total Assets $84.26M $75.97M
YoY Change 10.92% -8.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.553M $1.200M
YoY Change 29.42% -2.6%
Accrued Expenses $1.468M $3.967M
YoY Change -62.99% 17.06%
Deferred Revenue $20.85M $18.36M
YoY Change 13.61% 42.99%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.69M $26.88M
YoY Change 43.95% 14.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.37M $129.0K
YoY Change 9488.37% 6.61%
Total Long-Term Liabilities $12.37M $129.0K
YoY Change 9488.37% 6.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.69M $26.88M
Total Long-Term Liabilities $12.37M $129.0K
Total Liabilities $51.06M $40.80M
YoY Change 25.15% 4.22%
SHAREHOLDERS EQUITY
Retained Earnings -$17.60M -$23.58M
YoY Change -25.37% 1.47%
Common Stock $9.568M $9.391M
YoY Change 1.88% 0.82%
Preferred Stock
YoY Change
Treasury Stock (at cost) $65.00K $3.000K
YoY Change 2066.67% -50.0%
Treasury Stock Shares
Shareholders Equity $33.20M $35.17M
YoY Change
Total Liabilities & Shareholders Equity $84.26M $75.97M
YoY Change 10.92% -8.28%

Cashflow Statement

Concept 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $2.430M $2.042M
YoY Change 19.0% -165.51%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.520M -$2.801M
YoY Change -45.73% -21.63%
INVESTING ACTIVITIES
Capital Expenditures $327.0K $187.0K
YoY Change 74.87% -59.78%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$327.0K -$187.0K
YoY Change 74.87% -74.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $0.00
YoY Change
NET CHANGE
Cash From Operating Activities -$1.520M -$2.801M
Cash From Investing Activities -$327.0K -$187.0K
Cash From Financing Activities $0.00 $0.00
Net Change In Cash -$1.847M -$2.988M
YoY Change -38.19% -30.75%
FREE CASH FLOW
Cash From Operating Activities -$1.520M -$2.801M
Capital Expenditures $327.0K $187.0K
Free Cash Flow -$1.847M -$2.988M
YoY Change -38.19% -26.02%

Facts In Submission

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CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
14939000 usd
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
8627000 usd
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
8035000 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
463000 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
457000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
24308000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
23431000 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5646000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6036000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1468000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1640000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4301000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4545000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
5769000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
6185000 usd
CY2024Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
500000 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
500000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1175000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1363000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
964000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1262000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1389000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
587000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6740000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
971000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
5769000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1468000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4301000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M21D
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y5M4D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0634 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0623 pure
CY2024Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 pure
CY2024Q3 feim Number Of Principal Markets
NumberOfPrincipalMarkets
3 pure
CY2024Q3 us-gaap Revenues
Revenues
15077000 usd
CY2023Q3 us-gaap Revenues
Revenues
12408000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2365000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2060000 usd
CY2024Q3 us-gaap Assets
Assets
84264000 usd
CY2024Q2 us-gaap Assets
Assets
83253000 usd
CY2024Q3 us-gaap Revenues
Revenues
15100000 usd
CY2023Q3 us-gaap Revenues
Revenues
12400000 usd
CY2024Q3 us-gaap Revenues
Revenues
15077000 usd
CY2023Q3 us-gaap Revenues
Revenues
12408000 usd
CY2024Q3 us-gaap Revenues
Revenues
15077000 usd
CY2023Q3 us-gaap Revenues
Revenues
12408000 usd
CY2024Q3 us-gaap Investments
Investments
0 usd
CY2024Q2 us-gaap Investments
Investments
0 usd
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
1200000 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
945000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16201000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18320000 usd
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1217000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
945000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17418000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19265000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 dei Amendment Flag
AmendmentFlag
false
CY2024Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--04-30
CY2024Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2025
CY2024Q3 dei Entity Central Index Key
EntityCentralIndexKey
0000039020

Files In Submission

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0001185185-24-000882-index-headers.html Edgar Link pending
0001185185-24-000882-index.html Edgar Link pending
0001185185-24-000882.txt Edgar Link pending
0001185185-24-000882-xbrl.zip Edgar Link pending
ex_723198.htm Edgar Link pending
ex_723199.htm Edgar Link pending
ex_723200.htm Edgar Link pending
feim-20240731.xsd Edgar Link pending
Financial_Report.xlsx Edgar Link pending
freqelec20240731_10q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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feim-20240731_lab.xml Edgar Link unprocessable
feim-20240731_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
freqelec20240731_10q_htm.xml Edgar Link completed
R5.htm Edgar Link pending
R6.htm Edgar Link pending
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R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
feim-20240731_cal.xml Edgar Link unprocessable
feim-20240731_def.xml Edgar Link unprocessable