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Q4 2019 Frequency Electronics Inc Earnings Call Transcript

Jul 18, 2019 / 08:30PM GMT
Release Date Price: $11.99 (-0.33%)
Operator

Good day, ladies and gentlemen, and welcome to your Frequency Electronics Fourth Quarter and Year-End 2019 Earnings Release Conference Call. (Operator Instructions)

And now for opening remarks and introductions, I am pleased to turn the floor to Chairman of the Board, Mr. Martin Bloch. Please go ahead, sir.

Martin B. Bloch
Frequency Electronics, Inc. - Executive Chairman & Chief Scientist

Thank you. I have with me the Chief Executive Officer, Stan Sloane; and our Chief Financial Officer, Steve Bernstein. And I'll turn over the first phase of it to Steve. Please begin, Steve.

Steven L. Bernstein
Frequency Electronics, Inc. - CFO, Secretary & Treasurer

Thank you, Martin, and good afternoon. Fiscal 2019 consolidated revenues were $49.5 million, up 25% from $39.4 million for the prior fiscal year. The components of revenue are as follows: Revenue from commercial and U.S. government satellite programs increased to $22.8 million compared to $14.2 million for the previous fiscal year and accounted for

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