SEGMENT INFORMATION

3 Months Ended

Jul. 31, 2012

SEGMENT INFORMATION

NOTE E – SEGMENT INFORMATION

The Company operates under three reportable segments based on the geographic locations of its subsidiaries:

(1) FEI-NY – operates out of New York and its operations consist principally of precision time and frequency control products used in three principal markets- communication satellites (both commercial and U.S. Government-funded); terrestrial cellular telephone or other ground-based telecommunication stations and other components and systems for the U.S. military.

(2) Gillam-FEI - operates out of Belgium and France and primarily sells wireline synchronization and network management systems in non-U.S. markets. All sales from Gillam-FEI to the United States are to other segments of the Company.

(3) FEI-Zyfer – operates out of California and its products incorporate Global Positioning System (GPS) technologies into systems and subsystems for secure communications, both government and commercial, and other locator applications. This segment also provides sales and support for the Company’s wireline telecommunications family of products, including US5G, which are sold in the United States market.

The FEI-NY segment also includes the operations of the Company’s wholly-owned subsidiaries, FEI-Elcom Tech (“FEI-Elcom”) and FEI-Asia. FEI-Asia functions primarily as a manufacturing facility for the Company’s commercial product subsidiaries with minimal sales to outside customers. FEI-Elcom, in addition to its own product line, provides design and technical support for the FEI-NY segment’s satellite business.

The Company’s Chief Executive Officer measures segment performance based on total revenues and profits generated by each geographic location rather than on the specific types of customers or end- users. Consequently, the Company determined that the segments indicated above most appropriately reflect the way the Company’s management views the business.

The table below presents information about reported segments with reconciliation of segment amounts to consolidated amounts as reported in the statement of operations or the balance sheet for each of the periods. The July 31, 2011 amounts do not include FEI-Elcom (in thousands):

	Three months ended July 31,
	2012			2011
Net revenues:
FEI-NY	$	11,848		$	10,615
Gillam-FEI		1,908			1,988
FEI-Zyfer		3,357			3,773
less intercompany revenues		(428	)		(437	)
Consolidated revenues	$	16,685		$	15,939

	Three months ended July 31,
	2012			2011
Operating profit (loss):
FEI-NY	$	1,122		$	1,890
Gillam-FEI		(116	)		(230	)
FEI-Zyfer		140			193
Corporate		(65	)		(69	)
Consolidated operating profit	$	1,081		$	1,784

	July 31, 2012			April 30, 2012
Identifiable assets:
FEI-NY (approximately $3 million in China)	$	52,892		$	50,234
Gillam-FEI (all in Belgium or France)		18,939			20,407
FEI-Zyfer		8,331			9,685
less intersegment balances		(15,070	)		(16,424	)
Corporate		40,998			42,325
Consolidated identifiable assets	$	106,090		$	106,227