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RF Industries(RFIL) - 2024 Q1 - Quarterly Report
2024-03-18 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 16868 Via Del Campo Court, Suite 200 San Diego, California 92127 (Address of principal executive offices) (Zip Code) (858) 549-6340 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE S ...
RF Industries(RFIL) - 2024 Q1 - Quarterly Results
2024-03-18 20:09
RF Industries Reports First Quarter Fiscal Year 2024 Financial Results SAN DIEGO, CA, March 18, 2024 – RF Industries, Ltd. (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced first quarter fiscal year 2024 financial results for the quarter ended January 31, 2024. Exhibit 99.1 First Quarter Fiscal Year 2024 Highlights and Operating Results: See "Note Regarding Use of Non-GAAP Financial Measures," "Unaudited Reconciliation of GAAP to non-GAAP Net Loss" an ...
RF Industries(RFIL) - 2023 Q4 - Annual Report
2024-01-29 21:53
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2023 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 0-13301 RF INDUSTRIES, LTD. (Name of regi ...
RF Industries(RFIL) - 2023 Q4 - Earnings Call Transcript
2024-01-23 23:51
Financial Data and Key Metrics Changes - Fourth quarter sales were $15.9 million, a decrease of $7.1 million, or 31% year-over-year, and flat on a sequential basis [24] - For the full fiscal year, sales decreased by $13.1 million or 15% to $72.2 million [24] - Fourth quarter gross profit margin decreased to 28.4% from 31.1% year-over-year [25] - Fourth quarter operating loss was $1.1 million compared to operating income of $715,000 in the prior year period [25] - Net loss was $851,000, or $0.08 per diluted share, compared to a net income of $451,000 or $0.04 per diluted share for Q4 2022 [25] - Full fiscal year adjusted EBITDA was $460,000 versus $6.6 million in fiscal year 2022 [26] Business Line Data and Key Metrics Changes - The backlog as of October 31 was $16.1 million with fourth quarter bookings of $14.8 million, currently standing at $16.6 million [28] - The company is seeing momentum build around new business, particularly in higher margin products [28] - The product lines driving larger orders include Optiflex hybrid fiber, with unit prices ranging from $3,000 to $7,000 [17] Market Data and Key Metrics Changes - 43% of total sales came from wireless carrier applications, while 57% came from diverse end markets like manufacturing, public safety, and energy [53] - The company is exploring opportunities with new customer segments, including major cable companies [53] Company Strategy and Development Direction - The company aims to diversify its customer base and product offerings to drive growth [28][55] - There is a focus on higher margin solutions and larger projects to improve profitability [51] - The company has consolidated production facilities and reduced redundancies, decreasing annual operating expenses by approximately $2.5 million [50] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of capital spending from Tier 1 wireless and telecom companies [36] - The company anticipates increased demand in 2024 as CapEx spending normalizes [27][55] - Management noted that while fiscal 2023 was challenging, they are seeing encouraging signs for future growth [56] Other Important Information - The company had $4.9 million in cash and cash equivalents as of October 31, 2023, with a current ratio of approximately 2.9 to 1 [60] - The company has borrowed $13.1 million under its term loan and $1 million from its revolving credit facility [61] Q&A Session Summary Question: What is the expected run rate for the coming year based on Q4 performance? - Management indicated that Q4 could serve as a gauge for future performance, with expectations for quarterly operating expenses to range between $5.2 million and $5.5 million [31] Question: What is the contribution of higher margin products to revenue? - Management stated that the contribution from higher margin products was not material in 2023, but they expect significant growth in this area moving forward [34] Question: Will the reduction in operating expenses positively impact the bottom line in 2024? - Management expects that the reduction in operating expenses will contribute positively to the bottom line, depending on sales levels [71]
RF Industries(RFIL) - 2023 Q3 - Earnings Call Transcript
2023-09-14 22:02
RF Industries, Ltd. (NASDAQ:RFIL) Q3 2023 Earnings Conference Call September 14, 2023 4:30 PM ET Company Participants Jack Drapacz - SVP, IR Rob Dawson - President and CEO Conference Call Participants Operator Greetings. Welcome to the RF Industries Third Quarter Fiscal 2023 Financial Results Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host Jack Drapacz. You may begin. Jack Drapacz Thank you, operator. Good afternoon, a ...
RF Industries(RFIL) - 2023 Q3 - Quarterly Report
2023-09-14 20:08
Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-13301 RF INDUSTRIES, LTD. (Exact name of registrant as specified in its charter) Nevada 88-0168936 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) UNITED STATES SECURITIES AND EXCHANGE COMMISSION ...
RF Industries(RFIL) - 2023 Q2 - Earnings Call Transcript
2023-06-14 22:30
RF Industries, Ltd. (NASDAQ:RFIL) Q2 2023 Earnings Conference Call June 14, 2023 4:30 PM ET Company Participants Jack Drapacz - SVP, IR Rob Dawson - President and CEO Peter Yin - SVP and CFO Conference Call Participants Josh Nichols - B. Riley Operator Good day, everyone, and welcome to the RF Industries Second Quarter Fiscal 2023 Financial Results Conference Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Jack Drapacz. Sir, the floor is yours. Jack Drapacz Thank you ...
RF Industries(RFIL) - 2023 Q2 - Quarterly Report
2023-06-14 20:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-13301 (Exact name of registrant as specified in its charter) Nevada 88-0168936 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification N ...
RF Industries(RFIL) - 2023 Q1 - Earnings Call Transcript
2023-03-13 21:51
RF Industries, Ltd. (NASDAQ:RFIL) Q1 2023 Earnings Conference Call March 13, 2023 4:30 PM ET Company Participants Jack Drapacz - Senior Vice President, Investor Relations Rob Dawson - President and Chief Executive Officer Peter Yin - Senior Vice President and Chief Financial Officer Conference Call Participants Josh Nichols - B. Riley David Wright - Henry Investment Trust Operator Greetings. Welcome to the RF Industries First Quarter Fiscal 2023 Financial Results Conference Call. At this time, all participa ...
RF Industries(RFIL) - 2023 Q1 - Quarterly Report
2023-03-13 20:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-13301 RF INDUSTRIES, LTD. (Exact name of registrant as specified in its charter) Nevada 88-0168936 (State or other jurisdiction of incorporation or organization) (I.R.S. Emp ...