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Richardson Electronics Ltd (NASDAQ: RELL) is a distinguished global provider of engineered solutions, power grid and microwave tubes, and related consumables. The company is known for its high-value displays, flat panel solutions, and replacement parts for diagnostic imaging equipment. Richardson Electronics has carved out a significant presence in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets.
The company's strategic focus is on offering specialized technical expertise and engineered solutions grounded in core engineering and manufacturing capabilities. Richardson Electronics enhances value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair, leveraging its robust global infrastructure.
Recent milestones include the installation of over 50,000 units of the patented ULTRA3000® and the announcement of a global agreement with Microwave Components, Inc. This collaboration broadens Richardson Electronics' portfolio with products crucial for RF and microwave applications. Furthermore, the company continues to expand its footprint in the green energy sector through partnerships and innovative solutions targeting wind, solar, hydrogen, and electric vehicles.
Financially, Richardson Electronics derives the majority of its revenue from its Power and Microwave Technologies (PMT) segment. Other notable segments include Canvys, which focuses on high-value display solutions, and Green Energy Solutions (GES), which caters to the growing energy storage and power management markets. The company's stock is traded on the NASDAQ Global Select Market under the ticker symbol RELL.
For more information, visit www.rell.com.
Richardson Electronics (NASDAQ: RELL) has secured two multi-million dollar production contracts with major North American wind farm operators for its patented ultracapacitor pitch energy modules (PEMs). The orders, expected to ship during calendar year 2025, include the company's patented ULTRA3000® units, which are drop-in replacements for lead-acid batteries in wind turbine electric pitch systems.
The ULTRA3000® technology offers improved lifespan, reduced maintenance requirements, and lower environmental impact compared to traditional lead-acid batteries. These PEMs are important for storing and managing energy needed to adjust wind turbine blade angles for effective operation.
Richardson Electronics (RELL) and Navitas Semiconductor have expanded their distribution partnership for next-generation silicon carbide (SiC) power semiconductors into Europe, the Middle East, and Africa (EMEA). The partnership focuses on Navitas' GeneSiC product line, including their latest Gen-3 Fast MOSFETs, which deliver up to 25°C lower case temperatures and up to 3x longer life than alternative SiC products. The portfolio ranges from 650V to 6,500V, targeting applications in renewable energy, motor drives, induction heating, battery charging, and high voltage DC-DC conversion.
Richardson Electronics (NASDAQ: RELL) has announced its participation in the upcoming Sidoti & Company Micro-Cap Virtual Conference scheduled for November 13-14, 2024. The company, which specializes in green energy, power management, custom display, and healthcare solutions, will be represented by Chairman and CEO Edward J. Richardson and COO Wendy Diddell. They will deliver a formal presentation and engage with investors on November 14 at 10:45 A.M. ET / 9:45 A.M. CT. The conference offers free registration and includes opportunities for one-on-one meetings with company executives.
Richardson Electronics (NASDAQ: RELL) reported a 2.2% increase in Q1 FY25 net sales, marking the first quarterly year-over-year increase since Q3 FY23. The company achieved positive operating cash flow for the second consecutive quarter, ending with $23.0 million in cash and no debt. Management expects year-over-year sales growth and higher profitability for FY25.
Key highlights include:
- Net sales of $53.7 million, up from $52.6 million in Q1 FY24
- Gross margin of 30.6%, compared to 32.8% in Q1 FY24
- Operating income of $0.3 million, down from $1.5 million in Q1 FY24
- Net income of $0.6 million, or $0.04 per diluted share
- EBITDA of $1.7 million, compared to $2.6 million in Q1 FY24
The company also declared a quarterly cash dividend of $0.06 per share for common stock holders.
Richardson Electronics, (NASDAQ: RELL) has announced the date for its first quarter fiscal year 2025 conference call. The company will release its financial results for the quarter ended August 31, 2024, after market close on Wednesday, October 9, 2024. The conference call is scheduled for Thursday, October 10, 2024, at 9:00 a.m. Central Time.
Edward J. Richardson, Chairman and CEO, and Robert J. Ben, CFO, will host the call, which will include a question-and-answer session. Participants can register for the call through a provided link. A replay of the call will be available from 1:00 p.m. Central Time on October 11, 2024, for seven days. The financial results release will be distributed via GlobeNewswire and available on the company's website at www.rell.com.
Richardson Electronics, (NASDAQ: RELL) has announced a global distribution agreement with Quantic MWD, a manufacturer of precision microwave and millimeter wave solutions. This partnership will expand Richardson Electronics' power and microwave technology portfolio and enhance the accessibility of Quantic MWD's products to a broader customer base.
The collaboration showcases an impressive list of technologies, including oscillators, integrated microwave assemblies, amplifiers, frequency mixers, and frequency multipliers, with product highlights up to 50 GHz and beyond. These solutions are designed for space, defense, and industrial applications, maximizing stability and minimizing noise under extreme environmental conditions.
Richardson Electronics will be showcasing its RF and Microwave product portfolio at the European Microwave Week (EuMW 2024) in Paris, France, from September 24-26, 2024, at Booth 715B.
Richardson Electronics (NASDAQ: RELL) has announced a global distribution agreement with Quantic Electronics, expanding access to advanced capacitor technologies for aerospace and defense systems. The partnership includes Quantic's US-based capacitor businesses: Evans, Eulex, Paktron, and UTC.
Key highlights:
- Quantic Evans offers power-dense hybrid wet tantalum capacitors
- Quantic Eulex provides high-frequency capacitors with up to 20x increased capacitance
- Quantic Paktron specializes in Multilayer Polymer (MLP) film capacitors
- Quantic UTC produces high-reliability multilayer ceramic chip capacitors (MLCCs)
This collaboration aims to drive innovation across critical sectors, including defense, aerospace, space exploration, and CUAS technologies.
Richardson Electronics, (NASDAQ: RELL) is set to exhibit its ultracapacitor pitch energy modules at the WindEnergy Hamburg Event from September 24-27, 2024. The company will introduce its ULTRAPEM™ and ULTRA3000® products to the European market, custom-designed for GE, Nordex, Senvion, Alstom, and Suzlon wind turbine platforms. The ULTRA3000® is a drop-in replacement for lead-acid batteries in wind turbine pitch systems, offering improved lifespan and reduced environmental impact. Richardson Electronics has already shipped and installed over 55,000 patented ULTRA3000® pitch energy modules in North America, marking the largest retrofit of ultracapacitors for PEMs in the region.
Richardson Electronics (NASDAQ: RELL) reported its Q4 and fiscal year 2024 results, declaring a $0.06 quarterly cash dividend. Q4 net sales decreased 19.5% year-over-year to $47.4 million, with a gross margin improvement of 320 basis points to 31.1%. The company reported a Q4 operating loss of $0.1 million and a net loss of $0.1 million. For fiscal 2024, net sales decreased 25.2% to $196.5 million, with operating income of $0.3 million and net income of $0.1 million.
Despite challenging market conditions, the company achieved its first year-over-year reduction in inventory since fiscal 2017 and generated $7.2 million in Q4 operating cash flow. Richardson Electronics ended the year with $24.3 million in cash and no debt. Management expects a return to year-over-year sales growth and higher profitability in fiscal 2025.
Richardson Electronics (NASDAQ: RELL) has announced the date for its Fourth Quarter Fiscal Year 2024 Conference Call. The company will release its financial results for the quarter ended June 1, 2024, after market close on Wednesday, July 24, 2024. A conference call to discuss the results will be held on Thursday, July 25, 2024, at 9:00 a.m. Central Time.
The call will be hosted by Edward J. Richardson, Chairman and CEO, and Robert J. Ben, CFO. It will include a question-and-answer session. Participants can register for the call online, and a replay will be available for seven days starting at 1:00 p.m. Central Time on July 25, 2024. The financial results release and webcast link will be available on the company's website at www.rell.com.
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