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    Tim Hasara • Sinnet Capital

    Tim Hasara's questions to Frequency Electronics Inc (FEIM) leadership

    Tim Hasara's questions to Frequency Electronics Inc (FEIM) leadership • Q2 2025

    Question

    Tim Hasara of Sinnet Capital inquired about the outlook for securing new GEO satellite contracts over the next 6 to 9 months, including potential upgrades to existing programs.

    Answer

    Executive Thomas McClelland stated that the company anticipates a significant amount of work in the GEO satellite area within the next 6 to 9 months, with proposals already submitted to multiple prime contractors. He emphasized the importance of these programs for maintaining strong margins, which supports investment in the emerging small satellite market.

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    Tim Hasara's questions to Frequency Electronics Inc (FEIM) leadership • Q1 2025

    Question

    Tim Hasara of Sinnet Capital questioned the company's gross margin reporting, asking why it didn't highlight a one-time adjustment from the prior-year quarter which made the current results appear stronger on a comparative basis. He also asked about the funding timeline for previously announced contracts and the nature of funding for new proliferated satellite programs.

    Answer

    Executive Thomas McClelland and CFO Steven Bernstein dismissed the prior year's adjustment as a one-off issue that was not relevant to the current period. McClelland confirmed that the backlog for three major programs announced last year is being actively worked on and funding is coming through. He further explained that new proliferated satellite programs are primarily government-funded but involve a risk-sharing model where the company invests initially with the expectation of being selected for later production phases.

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