FEIM swings to $3.0M operating loss on FEI-Elcom exit, 59% backlog growth

Filed July 17, 2026 · Period ending April 30, 2026 · Compared to 10-K Jul 18, 2025 · ~2 min read

Key Changes

• high

  Operating income swung from $11.7M profit to $3.0M loss as FEI-Elcom restructuring drove $3.8M inventory write-down and gross margin compressed 1,400bp to 29.1%.

  MD&A: Operating Results verify on EDGAR →
• high

  Backlog surged 59% to $111M with 73% expected to convert in FY2027, signaling stronger order intake despite 9.4% revenue decline to $63.2M.

  Business: Backlog verify on EDGAR →
• high

  FEI-Elcom converted to LLC and operations integrated into FEI-NY as company exited lower-margin manufacturing to focus on quantum sensors, ALT-PNT, and proliferated satellites.

  Business: Restructuring verify on EDGAR →