Financial Data and Key Metrics Changes - Total sales for Q1 FY26 were $54.6 million, up 1.6% from $53.7 million in Q1 FY25. Excluding healthcare, net sales increased by 6.8% [2][6] - Consolidated gross margin improved to 31.0% from 30.6% year-over-year, primarily due to margin improvements in PMT and GES [8][9] - Operating income for Q1 FY26 was $1.0 million, compared to $0.3 million in the prior year, marking a significant increase [9] - Net income rose to $1.9 million in Q1 FY26 from $0.6 million in Q1 FY25, with diluted earnings per share increasing to $0.13 from $0.04 [9][10] - EBITDA for Q1 FY26 was $3.3 million, up from $1.7 million in the prior year [10] Business Line Data and Key Metrics Changes - PMT sales increased by 2.8% year-over-year, and by 10.5% when excluding healthcare, driven by demand from semiconductor wafer fab customers [6][12] - Canvas sales rose 8.3% due to improved market conditions in Europe [8] - GES sales decreased by 10.2% year-over-year, primarily due to the non-recurrence of a large EV locomotive order from the previous year, although the wind segment grew significantly [8][12] Market Data and Key Metrics Changes - The wind turbine business within GES grew by 86.1% year-over-year, supported by new customers and global expansion [12][13] - Approximately 70% of GES sales are currently in North America, indicating significant growth potential in international markets [17][37] Company Strategy and Development Direction - The company is focusing on engineered solutions and expanding its global footprint to manage tariff impacts and enhance manufacturing capabilities [4][16] - Strategic initiatives include the development of an Energy Storage System (ESS) program and partnerships to support growth in green energy applications [15][17] - The company is optimistic about growth in project-based business and is actively seeking new technology partners to fill gaps in its offerings [18][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing demand for alternative energy solutions and the potential benefits from recent legislative changes [4][24] - The company anticipates that the retained CT X-ray tube business will turn positive in Q4 FY26, following the sale of its healthcare business [22][23] - Management remains focused on efficiency and cash generation, with a commitment to driving growth both organically and through strategic acquisitions [25][26] Other Important Information - The company generated positive operating cash flow for six consecutive quarters, with a strong cash position of $35.7 million [5][10] - Capital expenditures for Q1 FY26 were $1.0 million, primarily related to manufacturing improvements [11] Q&A Session Summary Question: Status of Ultra 3000s on GE's approved vendor list - The engineering team has signed off, and final signatures from GE's legal team are expected soon, with testing to follow [30][32] Question: Semi-fab sales growth sustainability - Q1 of last year was a trough for semi-fab sales, and strong growth is expected in Q3 and Q4 FY26 based on forecasts [33] Question: Wind rotor sales opportunities outside the U.S. - The company is expanding its product offerings globally, with orders received from customers in Australia, India, France, and Italy [35][37] Question: CapEx expectations for the year - Estimated CapEx is in the $4 to $5 million range, slightly higher than last year [38][40] Question: Details on non-recurring gain affecting operating income - The $0.9 million non-recurring gain was from a confidential contractual settlement [46] Question: Insights on repower initiatives and operating leverage - The company expects to benefit from repowering initiatives and anticipates muted expense growth, contributing to operating leverage [49][56] Question: Outlook for the RF business - The RF tube business remains stable, with growth seen in the semi-fab equipment manufacturing sector and solid-state RF applications [57][59]

Richardson Electronics Q1 FY2026 Investor Presentation October 9, 2025 NASDAQ: RELL VISION To make our world a better, more sustainable place by providing innovative technology solutions. MISSION We provide solutions that improve our world through innovative engineering and manufacturing in collaboration with our employees, customers and technology partners. VALUES • We are a diverse family; we take care of our people. • We focus on long term viability for our company, our community and our world. • Every i ...

分组1 - Richardson Electronics, Ltd. reported better-than-expected first-quarter financial results, with earnings of 13 cents per share, surpassing the analyst consensus estimate of 1 cent per share [1] - The company achieved quarterly sales of $54.607 million, exceeding the analyst consensus estimate of $51.510 million [1] - Following the positive earnings report, Richardson Electronics shares increased by 20.2% to $12.76 in pre-market trading [1] 分组2 - Turn Therapeutics Inc. saw a significant gain of 226.3%, reaching $22.84 in pre-market trading after commencing trading on the Nasdaq Capital Market [5] - Baosheng Media Group Holdings Limited surged by 107.7% to $6.88 in pre-market trading [5] - Several other companies also experienced notable pre-market trading gains, including Alaunos Therapeutics, Inc. (+61.5%), Ambow Education Holding Ltd. (+53.2%), and AiRWA Inc. (+45.7%) [5]

Core Insights - Richardson Electronics, Ltd. (NASDAQ:RELL) is a significant player in the electronics parts distribution industry, focusing on engineered solutions, power grid and microwave tubes, and related consumables [1] - The company has consistently outperformed earnings expectations, showcasing a strong market position [1] Financial Performance - On October 8, 2025, RELL reported earnings per share (EPS) of $0.13, significantly surpassing the estimated $0.02, representing a 550% earnings surprise [2][6] - RELL has a history of exceeding expectations, outperforming consensus EPS estimates three times in the past four quarters [2] - The company reported revenues of $54.6 million for the quarter ending in August 2025, exceeding the Zacks Consensus Estimate by 6.01%, and marking a slight increase from $53.72 million reported in the same period last year [3][6] - Revenue growth is driven by a 52.2% rise in semiconductor wafer fab net sales, highlighting strength in this sector [3][6] Financial Health - RELL maintains a strong financial position with a price-to-sales ratio of 0.73 and an enterprise value to sales ratio of 0.57, indicating that its stock is valued below its sales revenue [4] - The company has a low debt-to-equity ratio of 0.015, indicating minimal reliance on debt financing, and a current ratio of 4.52, reflecting strong liquidity [4][6] - RELL generated $1 million in operating income and declared a quarterly cash dividend of $0.06 per share, with positive operating cash flow for the sixth consecutive quarter [5]

Core Insights - Richardson Electronics (RELL) reported quarterly earnings of $0.13 per share, exceeding the Zacks Consensus Estimate of $0.02 per share, and up from $0.04 per share a year ago [1] - The earnings surprise was +550.00%, with the company having surpassed consensus EPS estimates three times over the last four quarters [2] Financial Performance - The company posted revenues of $54.61 million for the quarter ended August 2025, surpassing the Zacks Consensus Estimate by 6.01%, compared to $53.72 million in the same quarter last year [3] - The current consensus EPS estimate for the upcoming quarter is $0.02 on revenues of $51.9 million, and for the current fiscal year, it is $0.17 on revenues of $212.81 million [8] Market Position - Richardson Electronics shares have declined approximately 29.9% since the beginning of the year, while the S&P 500 has gained 14.2% [4] - The Zacks Industry Rank for Electronics - Parts Distribution is in the top 39% of over 250 Zacks industries, indicating a favorable position compared to the bottom 50% [9] Future Outlook - The earnings outlook will be influenced by management's commentary on the earnings call and the trends in earnings estimate revisions [5][6] - The current Zacks Rank for Richardson Electronics is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [7]

[Executive Summary](index=1&type=section&id=1.%20Executive%20Summary) Richardson Electronics achieved its fifth consecutive quarter of YoY net sales growth, driven by semiconductor wafer fab sales, alongside positive operating income and cash flow, and declared a dividend [Q1 FY26 Performance Highlights](index=1&type=section&id=1.1.%20Q1%20FY26%20Performance%20Highlights) The company achieved its fifth consecutive quarter of YoY net sales growth, driven by semiconductor wafer fab sales, and maintained positive operating income and cash flow - Net sales increased YoY for the **5th consecutive quarter**, led by a **52.2% YoY increase** in semi-conductor wafer fab net sales[1](index=1&type=chunk) - Generated **$1.0 million** of operating income and ended Q1 FY26 with positive operating cash flow for the **6th consecutive quarter**[1](index=1&type=chunk) - The Board of Directors declared a **$0.06 per share** quarterly cash dividend[1](index=1&type=chunk) [CEO Commentary](index=1&type=section&id=1.2.%20CEO%20Commentary) The CEO expressed satisfaction with Q1 FY26 results, highlighting significant operating income improvement from a profitable sales mix and cost control, and projected improved fiscal year performance - Excluding Healthcare (majority of assets sold in January 2025), net sales grew by **6.8% year-over-year**[2](index=2&type=chunk) - Operating income more than tripled from the prior year's first quarter due to a more profitable sales mix and continued focus on controlling fixed costs[2](index=2&type=chunk) - Management is confident in the ability to deliver improved results for the year, supported by a solid balance sheet and a highly capable team[3](index=3&type=chunk) [First Quarter Fiscal 2026 Financial Review](index=2&type=section&id=2.%20First%20Quarter%20Fiscal%202026%20Financial%20Review) This section provides a detailed financial review of Richardson Electronics' performance for the first quarter of fiscal year 2026 [Net Sales](index=2&type=section&id=2.1.%20Net%20Sales) Q1 FY26 net sales grew by **1.6%** YoY to **$54.6 million**, or **6.8%** excluding Healthcare, driven by PMT and Canvys, with a slight increase in backlog | Metric | Q1 FY26 (Millions) | Q1 FY25 (Millions) | YoY Change | | :----- | :----------------- | :----------------- | :--------- | | Net Sales | $54.6 | $53.7 | +1.6% | | Net Sales (Excl. Healthcare) | N/A | N/A | +6.8% | - PMT sales increased by **$1.1 million (+2.8%)**, or **+10.5%** excluding Healthcare, driven by higher demand from semiconductor wafer fab customers and distributed electron tube products[5](index=5&type=chunk) - Canvys sales increased by **$0.6 million (+8.3%)** reflecting improved market conditions in Europe[5](index=5&type=chunk) - GES sales declined by **$0.8 million**, mainly due to the non-recurrence of a large EV Locomotive order[5](index=5&type=chunk) Net Sales by Strategic Business Unit (in thousands) | Segment | Q1 FY26 (Aug 30, 2025, in thousands) | Q1 FY25 (Aug 31, 2024, in thousands) | % Change | | :------ | :--------------------- | :--------------------- | :------- | | PMT | $39,069 | $38,001 | +2.8% | | GES | $7,263 | $8,086 | -10.2% | | Canvys | $8,275 | $7,638 | +8.3% | | Total | $54,607 | $53,725 | +1.6% | - Backlog totaled **$134.7 million** at the end of Q1 FY26, versus **$134.2 million** at the end of fiscal 2025, primarily driven by increases in PMT and Canvys[6](index=6&type=chunk) [Gross Margin](index=2&type=section&id=2.2.%20Gross%20Margin) Overall gross margin improved to **31.0%** in Q1 FY26, with PMT and GES margins increasing due to product mix, while Canvys' margin decreased | Metric | Q1 FY26 | Q1 FY25 | Change | | :----- | :------- | :------- | :----- | | Gross Margin | 31.0% | 30.6% | +0.4 pp | - PMT gross margin increased to **31.3%** (from **30.1%**) due to a favorable product mix and improved manufacturing absorption[7](index=7&type=chunk) - GES gross margin increased to **29.6%** (from **29.4%**) due to product mix[7](index=7&type=chunk) - Canvys gross margin decreased to **30.9%** (from **34.3%**) primarily due to product mix and higher freight costs[7](index=7&type=chunk) Gross Profit by Strategic Business Unit (in thousands) | Segment | Q1 FY26 Gross Profit (in thousands) | Q1 FY26 % of Net Sales | Q1 FY25 Gross Profit (in thousands) | Q1 FY25 % of Net Sales | | :------ | :------------------ | :-------------------- | :------------------ | :-------------------- | | PMT | $12,226 | 31.3% | $11,431 | 30.1% | | GES | $2,150 | 29.6% | $2,374 | 29.4% | | Canvys | $2,553 | 30.9% | $2,621 | 34.3% | | Total | $16,929 | 31.0% | $16,426 | 30.6% | [Operating Expenses and Income](index=2&type=section&id=2.3.%20Operating%20Expenses%20and%20Income) Operating expenses slightly decreased in Q1 FY26, resulting in operating income more than tripling compared to the prior year | Metric | Q1 FY26 (Millions) | Q1 FY25 (Millions) | YoY Change | | :----- | :----------------- | :----------------- | :--------- | | Operating Expenses | $16.0 | $16.1 | -0.6% | | Operating Expenses (% of Net Sales) | 29.2% | 30.0% | -0.8 pp | | Operating Income | $1.0 | $0.3 | +233.3% | - The decrease in operating expenses resulted from lower travel expenses[8](index=8&type=chunk) [Other Income, Taxes, and Net Income](index=2&type=section&id=2.4.%20Other%20Income,%20Taxes,%20and%20Net%20Income) Other income significantly increased due to a non-recurring gain, driving substantial growth in income before taxes and net income, despite a higher effective tax rate | Metric | Q1 FY26 (Millions) | Q1 FY25 (Millions) | YoY Change | | :----- | :----------------- | :----------------- | :--------- | | Other Income | $1.4 | $0.3 | +366.7% | | Income Before Income Taxes | $2.3 | $0.6 | +283.3% | | Income Tax Provision | $0.4 | < $0.1 | Significant Increase | | Effective Tax Rate | 18.1% | 9.0% | +9.1 pp | | Net Income | $1.9 | $0.6 | +216.7% | - The increase in other income was mainly due to a non-recurring gain of **$0.9 million**[9](index=9&type=chunk) [Earnings Per Share (EPS) and EBITDA](index=2&type=section&id=2.5.%20Earnings%20Per%20Share%20(EPS)%20and%20EBITDA) Diluted EPS more than tripled and EBITDA more than doubled in Q1 FY26, reflecting strong net income growth | Metric | Q1 FY26 | Q1 FY25 | YoY Change | | :----- | :------- | :------- | :--------- | | Diluted EPS | $0.13 | $0.04 | +225.0% | | EBITDA (Millions) | $3.3 | $1.7 | +94.1% | [Financial Position and Capital Management](index=2&type=section&id=3.%20Financial%20Position%20and%20Capital%20Management) This section reviews Richardson Electronics' financial position, cash management, debt, and capital allocation strategies for the quarter [Cash and Capital Expenditures](index=2&type=section&id=3.1.%20Cash%20and%20Capital%20Expenditures) The company maintained **$35.7 million** in cash and cash equivalents, primarily using cash for dividends, while capital expenditures slightly increased YoY | Metric | August 30, 2025 (Millions) | May 31, 2025 (Millions) | QoQ Change | | :----- | :------------------------- | :---------------------- | :--------- | | Cash and Cash Equivalents | $35.7 | $35.9 | -0.6% | - Cash used during the first quarter of fiscal 2026 primarily related to the payment of dividends[12](index=12&type=chunk) - The Company invested **$1.0 million** in capital expenditures during the quarter, primarily for its manufacturing business, facilities improvements, and IT systems, versus **$0.9 million** in the prior year's first quarter[12](index=12&type=chunk) [Debt and Credit Facilities](index=3&type=section&id=3.2.%20Debt%20and%20Credit%20Facilities) Richardson Electronics has no outstanding debt on its revolving credit line and extended its **$20 million** Credit Agreement with PNC Bank through October 2028 - As of the end of Q1 FY26, the Company had no outstanding debt on its revolving line of credit with PNC Bank[13](index=13&type=chunk) - The Credit Agreement has been extended through October 6, 2028, with similar terms and a **$20 million** borrowing limit[13](index=13&type=chunk) [Quarterly Cash Dividend](index=3&type=section&id=3.3.%20Quarterly%20Cash%20Dividend) The Board declared a quarterly cash dividend of **$0.06** per common share and **$0.054** per Class B common share, payable November 26, 2025 - A **$0.06** quarterly cash dividend per share was declared for holders of common stock[14](index=14&type=chunk) - A **$0.054** cash dividend per share was declared for holders of Class B common stock[14](index=14&type=chunk) - The dividend will be payable on November 26, 2025, to common stockholders of record as of November 7, 2025[14](index=14&type=chunk) [Non-GAAP Financial Measures](index=3&type=section&id=4.%20Non-GAAP%20Financial%20Measures) This section defines and explains the company's use of non-GAAP financial measures, specifically EBITDA, and its reconciliation [Non-GAAP Measure Definition and Use](index=3&type=section&id=4.1.%20Non-GAAP%20Measure%20Definition%20and%20Use) The company defines EBITDA as a non-GAAP measure, used by management to assess ongoing financial performance by excluding non-core items for evaluation and planning - EBITDA is presented as a non-GAAP financial measure, reflecting earnings before interest, income tax, depreciation, and amortization expenses[15](index=15&type=chunk) - Management believes EBITDA provides useful information to investors by assessing financial performance excluding items not indicative of ongoing results, and uses it for evaluating performance, planning, forecasting, and analyzing future periods[16](index=16&type=chunk) - Non-GAAP financial measures are not intended as a substitute for GAAP measurements and may not be comparable to similarly titled measures reported by other companies[16](index=16&type=chunk) [Corporate Information](index=3&type=section&id=5.%20Corporate%20Information) This section provides an overview of Richardson Electronics, its forward-looking statements, and details for its upcoming conference call [About Richardson Electronics, Ltd.](index=4&type=section&id=5.1.%20About%20Richardson%20Electronics,%20Ltd.) Richardson Electronics is a global manufacturer specializing in engineered solutions, green energy products, and various electronic components, providing technical expertise and value-added services - Richardson Electronics is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, power conversion and RF and microwave components, tubes for diagnostic imaging equipment, and customized display solutions[20](index=20&type=chunk) - The company serves customers in alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets[21](index=21&type=chunk) - The Company's strategy is to provide specialized technical expertise and "engineered solutions" through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair[21](index=21&type=chunk) [Forward-Looking Statements](index=3&type=section&id=5.2.%20Forward-Looking%20Statements) This release contains forward-looking statements subject to risks and uncertainties, with readers advised to consult SEC filings and the company disclaiming update responsibility - This release includes certain "forward-looking" statements as defined by the Securities and Exchange Commission, which involve risks and uncertainties[19](index=19&type=chunk) - For a discussion of such risks and uncertainties, readers should refer to Item 1A, "Risk Factors" in the Company's Annual Report on Form 10-K and other reports filed with the SEC[19](index=19&type=chunk) - The Company assumes no responsibility to update the "forward-looking" statements in this release[19](index=19&type=chunk) [Conference Call Details](index=3&type=section&id=5.3.%20Conference%20Call%20Details) Richardson Electronics will host a conference call on October 9, 2025, at 9:00 a.m. Central Time to discuss Q1 FY26 results, with a replay available - The Company will host a conference call and question-and-answer session on Thursday, October 9, 2025, at 9:00 a.m. Central Time, to discuss its first quarter fiscal 2026 results[17](index=17&type=chunk) - Participants may register for the call, and a replay will be available beginning at 1:00 p.m. Central Time on October 10, 2025, for seven days[18](index=18&type=chunk) - A webcast link is also available[18](index=18&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=6.%20Consolidated%20Financial%20Statements) This section presents the consolidated financial statements, including balance sheets, income statements, cash flows, and segment-level performance data [Consolidated Balance Sheets](index=5&type=section&id=6.1.%20Consolidated%20Balance%20Sheets) The balance sheet shows slight increases in total assets and stockholders' equity, driven by accounts receivable and inventories, with a corresponding rise in current liabilities | Metric (in thousands) | August 30, 2025 (in thousands) | May 31, 2025 (in thousands) | Change | | :-------------------- | :-------------- | :----------- | :----- | | Total Assets | $200,067 | $195,835 | +$4,232 | | Total Liabilities | $40,699 | $39,176 | +$1,523 | | Total Stockholders' Equity | $159,368 | $156,659 | +$2,709 | | Cash and cash equivalents | $35,654 | $35,901 | -$247 | | Accounts receivable, net | $27,039 | $24,117 | +$2,922 | | Inventories, net | $104,635 | $102,799 | +$1,836 | | Total current assets | $170,276 | $165,887 | +$4,389 | | Total current liabilities | $38,699 | $36,786 | +$1,913 | [Consolidated Statements of Comprehensive Income](index=6&type=section&id=6.2.%20Consolidated%20Statements%20of%20Comprehensive%20Income) The statement highlights significant YoY growth in net sales, gross profit, operating income, and net income for Q1 FY26, with comprehensive income more than doubling | Metric (in thousands) | Q1 FY26 (Aug 30, 2025, in thousands) | Q1 FY25 (Aug 31, 2024, in thousands) | YoY Change | | :-------------------- | :--------------------- | :--------------------- | :--------- | | Net sales | $54,607 | $53,725 | +1.6% | | Gross profit | $16,929 | $16,426 | +3.1% | | Operating income | $968 | $316 | +206.3% | | Income before income taxes | $2,330 | $648 | +259.6% | | Net income | $1,909 | $590 | +223.6% | | Comprehensive income | $2,963 | $1,226 | +141.7% | | Diluted EPS (Common Stock) | $0.13 | $0.04 | +225.0% | [Consolidated Statements of Cash Flows](index=7&type=section&id=6.3.%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly increased in Q1 FY26, with cash primarily used for investing and financing, leading to a slight quarterly decrease in cash equivalents | Metric (in thousands) | Q1 FY26 (Aug 30, 2025, in thousands) | Q1 FY25 (Aug 31, 2024, in thousands) | YoY Change | | :-------------------- | :--------------------- | :--------------------- | :--------- | | Net cash provided by operating activities | $1,367 | $412 | +231.8% | | Net cash used in investing activities | $(1,025) | $(919) | +11.5% | | Net cash used in financing activities | $(895) | $(868) | +3.1% | | Decrease in cash and cash equivalents | $(247) | $(1,228) | -79.9% | | Cash and cash equivalents at end of period | $35,654 | $23,035 | +54.8% | [Net Sales and Gross Profit by Strategic Business Unit](index=8&type=section&id=6.4.%20Net%20Sales%20and%20Gross%20Profit%20by%20Strategic%20Business%20Unit) This section details net sales and gross profit by strategic business unit, showing sales growth in PMT and Canvys, a decline in GES, and varied gross margin performance Net Sales by Strategic Business Unit (in thousands) | Segment | Q1 FY26 (Aug 30, 2025, in thousands) | Q1 FY25 (Aug 31, 2024, in thousands) | % Change | | :------ | :--------------------- | :--------------------- | :------- | | PMT | $39,069 | $38,001 | +2.8% | | GES | $7,263 | $8,086 | -10.2% | | Canvys | $8,275 | $7,638 | +8.3% | | Total | $54,607 | $53,725 | +1.6% | Gross Profit by Strategic Business Unit (in thousands) | Segment | Q1 FY26 Gross Profit (in thousands) | Q1 FY26 % of Net Sales | Q1 FY25 Gross Profit (in thousands) | Q1 FY25 % of Net Sales | | :------ | :------------------ | :-------------------- | :------------------ | :-------------------- | | PMT | $12,226 | 31.3% | $11,431 | 30.1% | | GES | $2,150 | 29.6% | $2,374 | 29.4% | | Canvys | $2,553 | 30.9% | $2,621 | 34.3% | | Total | $16,929 | 31.0% | $16,426 | 30.6% | [Reconciliation of Non-GAAP Financial Measures (EBITDA)](index=9&type=section&id=6.5.%20Reconciliation%20of%20Non-GAAP%20Financial%20Measures%20(EBITDA)) This section reconciles net income to EBITDA, demonstrating a significant increase in Q1 FY26 EBITDA, reflecting improved operational profitability before non-cash and financing items EBITDA Reconciliation (in thousands) | Metric | Q1 FY26 (Aug 30, 2025, in thousands) | Q1 FY25 (Aug 31, 2024, in thousands) | | :----- | :--------------------- | :--------------------- | | Net income | $1,909 | $590 | | Income tax expense | $421 | $58 | | Depreciation & amortization | $971 | $1,044 | | **EBITDA** | **$3,301** | **$1,692** |

Earnings Expectations - AZZ Inc. is expected to report quarterly earnings of $1.58 per share with revenue of $427.38 million [2] - Richardson Electronics Ltd. is anticipated to post earnings of 1 cent per share on revenue of $51.51 million [2] - Bassett Furniture Industries Inc. is projected to report quarterly earnings of 9 cents per share with revenue of $79.91 million [2] Stock Performance - AZZ shares fell by 1.7% to close at $105.08 [2] - Joby Aviation Inc. announced a public offering of $500 million in common stock, leading to an 8.8% dip in shares to $17.25 [2] - Penguin Solutions Inc. reported better-than-expected earnings but missed sales estimates, resulting in an 11.7% decline in shares to $23.85 [2] - Richardson Electronics shares increased by 2.3% to close at $9.84 [2] - Bassett Furniture shares rose by 4% to close at $15.90 [2] Future Guidance - Penguin Solutions projects FY2026 adjusted earnings between $1.75 to $2.25 per share and sales between $1.314 billion to $1.588 billion [2]

Core Insights - Richardson Electronics, Ltd. will release its financial results for the first quarter ended August 30, 2025, on October 8, 2025 [1] - A conference call to discuss the results will be held on October 9, 2025, at 9:00 a.m. Central Time, featuring the CEO and CFO [2] Company Overview - Richardson Electronics is a global manufacturer specializing in engineered solutions, green energy products, power grid and microwave tubes, and related consumables [4] - The company manufactures over 55% of its products in LaFox, Illinois, Marlborough, Massachusetts, and Donaueschingen, Germany, adhering to strict specifications and a Supplier Code of Conduct [5] - The company serves various markets including alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor [5] - Richardson Electronics trades on the NASDAQ Global Select Market under the ticker symbol RELL [6]

Richardson Electronics Conference Summary Company Overview - **Company Name**: Richardson Electronics (Ticker: RELL) - **Headquarters**: Lafox, Illinois, USA - **Employees**: Approximately 430 globally, primarily in sales and engineering roles - **Global Presence**: Over 60 locations and 24 legal entities worldwide, serving more than 20,000 OEM and end-user customers [2][3] Business Units - **Current Business Units**: 1. **Power & Microwave Technologies (PMT)**: Largest and oldest unit, includes Electron Device Group (EDG) focusing on power grid and microwave tubes, and semiconductor wafer fab equipment. 2. **Green Energy Solutions**: Focuses on alternative energy sources like wind and solar, with significant revenue from wind and electric locomotives. 3. **Canvas**: Custom display solutions primarily for medical OEMs [5][6][7][8] Financial Performance - **Debt Status**: The company is debt-free with $35.9 million in cash and cash equivalents [19] - **Growth Metrics**: Achieved a 6.3% year-over-year growth in FY2025, with positive operating cash flow for the past five quarters [18][19] - **Capital Expenditures**: Approximately $3 million last year, expected to increase in FY2026 [19] Market Opportunities - **Wind Energy Market**: Estimated total addressable market (TAM) of $450 million, with growth driven by repowering existing turbines and tax credits [14][15] - **Energy Storage Solutions**: Developing a large energy storage system (BESS) for various applications, including solar and grid energy storage [11][16][34] - **Green Energy Growth**: Anticipated year-over-year growth of 10% to 15%, primarily from green energy initiatives [36] Competitive Landscape - **Market Position**: Significant market share in power grid tube space, with limited competition in engineered solutions due to patented technologies [27][30] - **Niche Focus**: Targeting smaller markets in energy storage and custom displays, leveraging engineering capabilities for competitive advantage [28][30] Strategic Initiatives - **Global Expansion**: Investing in engineering and sales personnel in Europe and other regions to capture market share [15][19] - **Acquisition Strategy**: Open to acquisitions in the power management space that are accretive and enhance technological capabilities [39] Key Challenges - **Tariff Impacts**: Less than 5% of products sourced from China, allowing the company to manage tariff impacts effectively [20] - **Sales Cycle**: Longer sales cycles in the Green Energy Solutions segment, but lower interest rates may stimulate customer spending [31] Conclusion - **Outlook**: The company is well-positioned for growth in the green energy sector, with a strong balance sheet and a focus on innovative solutions in energy storage and power management [39][40]

Core Insights - Richardson Electronics, Ltd. has appointed Daniel Albers to lead business development for its Made-in-USA contract manufacturing initiatives, aiming to enhance partnerships and drive growth in various markets [1][2] - The company emphasizes its commitment to supporting domestic supply chains and providing high-reliability solutions for mission-critical industries, leveraging its 250,000 sq. ft. facility in LaFox, Illinois [3] Company Overview - Richardson Electronics is a global provider of engineered solutions, focusing on green energy, power management, and custom display markets, with over 55% of its products manufactured in the U.S. and Germany [4] - The company offers a range of services including Cable, PCB, Electromechanical Assembly, and Vacuum Tube Production, aimed at delivering quality and speed to market while mitigating supply chain risks [3][4] Leadership and Expertise - Daniel Albers brings extensive experience in lean manufacturing and business development, having previously managed a multi-million-dollar account for a Fortune 500 manufacturer [2] - His role is expected to align with the company's strategy to grow its domestic manufacturing capabilities and strengthen customer relationships [2]