By Elias Schisgall

Frequency Electronics received U.S. government contracts totaling around $16 million and said its backlog has exceeded $100 million.

The maker of precision timing and frequency control products said that the new contracts for oscillators and timing systems span non-space and space programs, and include the company's first move into the space defense business.

"There is an increasing need amongst our U.S. Government customers for space-qualified hardware that can provide secure communications from satellites to ground stations and via satellite crosslinks, and FEI is uniquely positioned to provide such solutions given our heritage in both space systems and terrestrial secured communications systems," Chief Executive Officer Tom McClelland said.

The company also said it ended its fiscal year at the end of April with a backlog of more than $100 million, marking a new milestone. McClelland said the backlog growth and new contracts increase the company's conviction in its target of $150 million in revenue within three years.

"Now in fiscal 2027, we will start seeing this backlog growth translating into revenue growth as we position FEI to be a substantially larger company based on the continuing expansion of our backlog and order book, as well as the significantly larger end-markets that we are selling into," McClelland said.

Shares rose 4.8% to $74.51 in after-hours trading Wednesday. The stock closed up 3.7%, at $71.12, up 32% this year.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

May 27, 2026 16:25 ET (20:25 GMT)

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