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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 announced a strategic asset sale of its Richardson Healthcare business unit to DirectMed Imaging. The transaction, completed on January 24, 2025, includes a 10-year global supply agreement where Richardson will provide DirectMed with repaired Siemens CT X-ray tubes.
The company will continue manufacturing ALTA CT X-ray tubes for DirectMed for approximately 12-18 months. The remaining healthcare operations, primarily focusing on CT X-ray tube manufacturing and repair, will be integrated into the company's PMT reportable segment.
This strategic move aligns with Richardson's focus on reallocating assets to support their growing Green Energy Solutions business, with management expecting the transaction to simplify operations and improve their financial model.
DirectMed Imaging has acquired Richardson Healthcare's Fort Mill, SC operation, a division of Richardson Electronics (NASDAQ: RELL). The acquisition strengthens DirectMed's position as the leading Canon/Toshiba aftermarket parts supplier and expands its MRI and CT parts expertise.
Key aspects of the deal include: DirectMed becoming the exclusive global distributor for Richardson Electronics' repaired Siemens Straton Z, MX, and MXP CT X-ray tubes, as well as the ALTA750 and ALTA 750G CT X-ray tubes. The company will also enter the Canon/Toshiba CT training market for engineers and biomedical professionals.
This marks DirectMed's sixth acquisition, adding to their inventory of over 100,000 parts. The company, backed by Frazier Healthcare Partners, will leverage Richardson's X-ray tube manufacturing infrastructure and engineering expertise to enhance their service offerings.
Richardson Electronics (NASDAQ: RELL) reported Q2 FY25 results with net sales of $49.5 million, showing a 12.1% increase from $44.1 million in Q2 FY24. The growth was primarily driven by Green Energy Solutions (GES), which saw a 129% increase in sales, and the Power and Microwave Technologies Group (PMT) with a 9.9% increase.
The company maintained a strong financial position with $26.6 million in cash and no debt. Gross margin improved to 31.0% compared to 28.4% in Q2 FY24. Despite these improvements, the company reported a net loss of $0.8 million ($0.05 per share), better than the $1.8 million loss ($0.13 per share) in the prior year. The Board declared a quarterly cash dividend of $0.06 per share.
Backlog increased to $142.6 million from $137.4 million in Q1 FY25, with management expecting continued growth and higher year-over-year sales and profitability for FY25.
Richardson Electronics (NASDAQ: RELL) has announced it will release its second quarter fiscal year 2025 financial results after market close on Tuesday, January 7, 2025. The results will cover the period ended November 30, 2024.
The company will host a conference call on Wednesday, January 8, 2025, at 9:00 a.m. Central Time, featuring Chairman and CEO Edward J. Richardson and CFO Robert J. Ben. The call will include a question-and-answer session. A replay will be available from 1:00 p.m. Central Time on January 9, 2025, for seven days.
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.
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