Richardson Electronics(RELL) - 2025 Q3 - Quarterly Results

Financial Performance - Q3 FY25 net sales were $53.8 million, a 2.7% increase from $52.4 million in Q3 FY24[4] - Year-to-date net sales for the first nine months of FY25 were $157.0 million, a 5.3% increase from $149.1 million in the same period of FY24[17] - Net sales for the three months ended March 1, 2025, were $53,804 thousand, representing a 2.7% increase from $52,375 thousand for the same period in 2024[37] - The PMT segment saw a 6.6% increase in net sales to $33,216 thousand for the three months ended March 1, 2025, while the GES segment experienced a 19.4% decline to $9,299 thousand[37] - The healthcare segment's net sales decreased by 32.3% to $2,094 thousand for the three months ended March 1, 2025[37] Profitability - Non-GAAP operating income for Q3 FY25 rose to $2.2 million, up from $1.0 million in the prior year[3] - Non-GAAP net income for the three months ended March 1, 2025, was $1,581 thousand compared to $750 thousand in the same period last year[39] - Non-GAAP Earnings Per Common Share (Diluted) for the three months ended March 1, 2025, was $0.11, up from $0.05 in the same period of 2024[21] - Adjusted EBITDA for the three months ended March 1, 2025, was $2,806,000, compared to $2,083,000 for the same period in 2024, indicating growth[22] - The company reported a net loss of $2.1 million for Q3 FY25, compared to a net income of $0.8 million in Q3 FY24[12] - The company reported a net loss of $2,057 thousand for the three months ended March 1, 2025, compared to a net income of $750 thousand for the same period in 2024[35] - The company reported a comprehensive loss of $(2,759) thousand for the three months ended March 1, 2025, compared to a comprehensive income of $545 thousand for the same period in 2024[35] Expenses and Liabilities - Operating expenses were $14.5 million, slightly up from $14.4 million in Q3 FY24[8] - Total liabilities as of March 1, 2025, were $36,910,000, compared to $34,493,000 on June 1, 2024, showing an increase[31] - Depreciation and amortization expenses for the nine months ended March 1, 2025, totaled $3,037 million, down from $3,218 million for the same period in 2024[40] Cash and Assets - The company ended Q3 FY25 with $36.7 million in cash and equivalents, with no debt[2] - Cash and cash equivalents increased to $36,675,000 as of March 1, 2025, from $24,263,000 on June 1, 2024[31] - Total current assets as of March 1, 2025, were $163,514,000, slightly up from $161,654,000 on June 1, 2024[31] - The company’s total assets decreased to $189,810,000 as of March 1, 2025, from $192,445,000 on June 1, 2024[31] - The company’s retained earnings decreased to $79,117,000 as of March 1, 2025, from $83,729,000 on June 1, 2024[31] Future Outlook - The company plans to host a conference call on April 10, 2025, to discuss its third quarter fiscal-year 2025 results[25] - The company declared a quarterly cash dividend of $0.06 per share, payable on May 28, 2025[18] Adjusted Metrics - The adjusted EBITDA for the nine months ended March 1, 2025, was $4,458 million, an increase from $3,514 million for the same period in 2024[40] - The adjusted EBITDA for the three months ended March 1, 2025, was $2,806 million, an increase from $2,083 million for the same period in 2024[40] - The company reported a decrease in EBITDA for the nine months ended March 1, 2025, to $(458) million from $3,514 million for the same period in 2024[40]