Financial Performance - Q1 FY25 net sales were $53.7 million, a 2.2% increase from $52.6 million in Q1 FY24[3] - Net sales for the three months ended August 31, 2024, were $53,725,000, representing a 2.2% increase from $52,581,000 for the same period in 2023[16] - GES sales increased by $3.7 million, or 84.0% year-over-year, driven by electric locomotive and wind turbine battery module sales[2] - Healthcare sales rose by $1.2 million, or 48.7% year-over-year, due to higher demand for CT tubes and parts[3] - The PMT segment reported net sales of $34,202,000, a decrease of 4.3% from $35,744,000 in the previous year[19] - The GES segment saw a significant increase in net sales, rising 84.0% to $8,086,000 from $4,394,000 year-over-year[19] - The Healthcare segment experienced a 48.7% increase in net sales, reaching $3,799,000 compared to $2,554,000 in the prior year[19] Profitability - Gross margin for Q1 FY25 was 30.6%, down from 32.8% in Q1 FY24[5] - Gross profit decreased to $16,426,000, which is 30.6% of net sales, down from $17,264,000 or 32.8% of net sales in the prior year[20] - Operating income was $0.3 million, compared to $1.5 million in the prior year's first quarter[6] - Operating income for the three months ended August 31, 2024, was $316,000, a significant decrease from $1,472,000 in the same period last year[16] - Net income for Q1 FY25 was $0.6 million, down from $1.2 million in Q1 FY24[6] - Net income for the three months ended August 31, 2024, was $590,000, a decline of 52.1% compared to $1,227,000 in the same period last year[18] - EBITDA for the three months ended August 31, 2024, was $1,692,000, down from $2,606,000 in the prior year[21] Cash and Dividends - Cash and cash equivalents at the end of Q1 FY25 were $23.0 million, down from $24.3 million at the end of Q4 FY24[7] - Cash and cash equivalents at the end of the period were $23,035,000, down from $24,124,000 at the end of the previous year[18] - The Board declared a quarterly cash dividend of $0.06 per share, payable on November 27, 2024[8] Backlog and Foreign Currency - Backlog totaled $137.4 million at the end of Q1 FY25, down from $147.8 million at the end of Q4 FY24[4] - The company reported a foreign currency translation gain of $636,000 for the period, compared to a loss of $41,000 in the previous year[16]

Richardson Electronics, Ltd. (NASDAQ:RELL) Q4 2024 Earnings Conference Call July 25, 2024 10:00 AM ET Company Participants Edward Richardson - CEO Robert Ben - CFO Gregory Peloquin - GM, Power & Microwave Technologies Group, Green Energy Solutions Wendy Diddell - COO & GM for Richardson Healthcare Jens Ruppert - GM, Canvys Conference Call Participants Robert Brooks - Northland Capital Markets Anja Soderstrom - Sidoti Ross Taylor - ARS Investment Partners Chip Rewey - Rewey Asset Management Andrew Rem - Odin ...

Financial Performance - Net sales for the fourth quarter of fiscal 2024 were $47.4 million, a 19.5% decrease from $58.8 million in the prior year's fourth quarter[3]. - Fiscal 2024 net sales totaled $196.5 million, down 25.2% from $262.7 million in fiscal 2023, with significant declines in PMT (21.7%), GES (51.2%), and Canvys (17.5%) sales[6]. - The company reported a net loss of $0.1 million for the fourth quarter, compared to a net income of $4.1 million in the same quarter of fiscal 2023[5]. - Operating income for fiscal 2024 was $0.3 million, a significant decrease from $25.0 million in fiscal 2023[37]. - Net income for fiscal 2024 was $0.1 million, a significant decrease from $22.3 million in fiscal 2023[38]. - Non-GAAP net income for fiscal 2024 was $0.5 million, compared to $20.0 million in fiscal 2023, indicating a substantial decline[38]. - Net loss for the three months ended June 1, 2024, was $119 million, compared to a net income of $4,120 million for the three months ended May 27, 2023[51]. - Total net income for the twelve months ended June 1, 2024, was $61 million, compared to $22,333 million for the twelve months ended May 27, 2023[51]. - The company experienced a significant decrease in net income and non-GAAP metrics compared to the previous year, indicating potential challenges in performance[51]. Cash Flow and Assets - The company generated $7.2 million in operating cash flow during the fourth quarter, ending the year with $24.3 million in cash and cash equivalents and no debt[32]. - Cash and cash equivalents at the end of the period were $24.3 million, down from $25.0 million at the beginning of the period[48]. - The company reported a net cash provided by operating activities of $6.5 million for the year ended June 1, 2024, compared to a net cash used of $(8.2) million in the previous year[48]. - Total assets decreased from $198.0 million as of May 27, 2023, to $192.4 million as of June 1, 2024[46]. Operating Expenses and Margins - Operating expenses for fiscal 2024 were $59.5 million, slightly up from $58.7 million in fiscal 2023, driven by higher R&D and salary expenses[14]. - Gross margin for the fourth quarter improved to 31.1%, up 320 basis points year-over-year, with notable increases in PMT (31.1%), GES (25.5%), and Healthcare (32.5%) segments[11]. - Gross profit for the twelve months ended June 1, 2024, was $59.97 million, which is a decrease from $83.69 million in the previous year, reflecting a gross margin of 30.5%[50]. Backlog and Future Outlook - The backlog at the end of the fourth quarter was $147.8 million, with a sequential increase in GES backlog by $5.5 million[33]. - Management expects to return to year-over-year sales growth and higher profitability in fiscal 2025, citing early signs of improving demand in semiconductor wafer fab markets[32]. Dividends - The company declared a quarterly cash dividend of $0.06 per share[9]. - The company declared a quarterly cash dividend of $0.06 per share for common stockholders, payable on August 28, 2024[40]. Foreign Currency and Other Adjustments - The company experienced a foreign currency translation loss of $(236) thousand for the three months ended June 1, 2024[47]. - The valuation allowance adjustment for the three months ended June 1, 2024, was $(861) million, compared to $1,755 million for the three months ended May 27, 2023[51]. - The income tax provision for the three months ended June 1, 2024, was $(20) million, compared to $(2,584) million for the three months ended May 27, 2023[51]. - The prior years' R&D credit for the three months ended June 1, 2024, was $462 million, consistent with the prior year[51].

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Richardson Electronics, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of ...

IMS 2024 (IEEE MTT-S International Microwave Symposium) is an in-person conference week dedicated to all things microwaves and RF. It will also include the IEEE MTT-S Radio Frequency Integrated Circuits Symposium (RFIC) and the Automatic Radio Frequency Techniques Group (ARFTG). IMS2024 is the world's largest gathering and industry exhibition for Microwave professionals. The development of RF, microwave, mm-wave, and THz systems continues to expand in several areas with many applications. To register for IM ...

LAFOX, Ill., April 30, 2024 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ:RELL), a global provider of engineered solutions for renewable energy and other power management applications, announced a strategic partnership with Suzlon Energy Limited, India's largest renewable energy solutions provider. Richardson Electronics will develop pitch energy modules for Suzlon's global fleet of wind turbines, a testament to their engineered solutions expertise and commitment to advancing renewable energy sol ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 2, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from To Commission File Number: 0-12906 RICHARDSON ELECTRONICS, LTD. (Exact name of registrant as specified in its charter) Delaware 36-2096643 (State or other juri ...

Richardson Electronics, Ltd. (NASDAQ:RELL) Q3 2024 Earnings Call Transcript April 11, 2024 10:00 AM ET Company Participants Ed Richardson - CEO Robert Ben - CFO Greg Peloquin - GM, Power & Microwave Technologies Group, Green Energy Solutions Wendy Diddell - COO & GM for Richardson Healthcare Jens Ruppert - GM, Canvys Conference Call Participants Anja Soderstrom - Sidoti Ross Taylor - ARS Investment Partners Barry Mendel - Mendel Money Management Joseph Nerges - Segren Investments Operator Good day, and than ...

Richardson Electronics (RELL) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 150%. A quarter ago, it was expected that this electronic components and communication products company would post earnings of $0.01 per share when it actually produced a loss of $0.13, delivering a surprise ...

EXHIBIT 99.1 Press Release For Immediate Release Edward J. Richardson Robert J. Ben PO BOX 393 For Details Contact: 40W267 Keslinger Road Chairman and CEO EVP & CFO LaFox, IL 60147-0393 USA Phone: (630) 208-2320 (630) 208-2203 (630) 208-2200 | Fax: (630) 208-2550 Third Quarter Results Net sales for the third quarter of fiscal 2024 decreased 25.6% to $52.4 million compared to net sales of $70.4 million in the prior year's third quarter due to lower net sales in PMT and Canvys. PMT sales decreased $15.7 milli ...