Richardson Electronics(RELL) - 2026 Q1 - Earnings Call Presentation

Financial Performance & Strategy - Richardson Electronics' Q1 FY26 consolidated net sales increased by 1.6% to $54.6 million, compared to $53.7 million in Q1 FY25[52] - Excluding Healthcare, net sales increased by 6.8% year-over-year[52] - The consolidated gross margin for Q1 FY26 was 31.0%, compared to 30.6% in Q1 FY25, a 40-basis point increase[52] - Net income for Q1 FY26 was $1.9 million, compared to $0.6 million in Q1 FY25[52] - The company intends to use proceeds from the Healthcare asset sale to invest in growth initiatives, primarily within its GES segment[18] Business Segments - FY2025 Revenue for Green Energy Solutions (GES) was $28.7 million[20] - FY2025 Revenue for Canvys was $33.1 million[20] - FY2025 Revenue for Power & Microwave Technology (PMT) was $137.8 million[20] Balance Sheet & Cash Flow - The company has a strong balance sheet with no debt and $35.7 million in cash and cash equivalents as of August 31, 2025[54] - Operating cash flow was $1.4 million in Q1 FY26, compared to $0.4 million in Q1 FY25[54] Backlog - Total backlog at the end of Q1 FY26 was $134.7 million, compared to $59.5 million in FY19, representing an increase of over 125%[60] Healthcare Strategic Transition - In January 2025, Richardson sold most of its Healthcare assets to DirectMed Imaging for $8.2 million[18]