Frequency Electronics, a Long Island-based company specializing in making precision timing devices, as it reported earnings said it’s investing to further hone time keeping devices accurate down to nanoseconds or millionths of a second.
The Mitchel Field-based company specializes in atomic clocks and other highly precise time keeping devices used in satellites, aviation and for global positioning systems.
Frequency reported $12.6 million revenues for the first quarter of fiscal 2020 ended July 31, 2019, up from $11.0 million a year ago.
The company also reported a $591,000 loss compared to $31,000 net income a year ago, which it attributed in large part to increased research and development expenses.
Frequency’s research and development expenses rose to $2.3 million from $1.6 million a year ago as the company seeks to further refine its ability to accurately track time to levels most people couldn’t even imagine.
CEO Stanton Sloane said Frequency Electronics is incurring “additional engineering costs associated with product developments.”
“These developments are pushing the state of the art technically,” Sloane said, noting the company must still manage “short-term technical developments.”
He said “the new capabilities these products afford for precision time and frequency distribution” could be used for everything from defense to civilian uses.