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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, Ltd. (NASDAQ: RELL) announced its participation in the virtual International Microwave Symposium (IMS2020) from August 4-6, 2020. This conference, focusing on radio frequency and microwave technologies, has transitioned to a digital format due to COVID-19. The event will showcase the latest innovations including 5G developments. RELL's Power & Microwave Technologies group will host a virtual booth, allowing attendees to interact with representatives and access resources until September 30, 2020. The conference participation is free for IEEE MTT-S members and open to others for exhibitions.
Richardson Electronics, Ltd. (NASDAQ: RELL) announced its support for the upcoming Qorvo Design Summit, a virtual webinar series commencing in August. This initiative aims to address design challenges in RF and power management technology, crucial for applications like 5G and Wi-Fi. Greg Peloquin, EVP of Richardson's Power & Microwave Technologies group, expressed enthusiasm for collaborating with Qorvo to deliver solutions and education to engineers. The complete schedule and registration details for the webinars are available online.
Richardson Electronics reported Q4 FY2020 net sales of $37.4 million, down 11.4% due to COVID-19 impacts. Gross margin improved to 30.4%, up from 29.7% in Q4 FY2019, driven by better product mix and efficiency. Operating loss narrowed to $1.3 million from $6.4 million, which included a $6.3 million goodwill impairment last year. For FY2020, sales fell 6.5% to $155.9 million, with a net loss of $1.8 million compared to $7.3 million in FY2019. The Board declared a $0.06 quarterly cash dividend. Cash and investments rose to $46.5 million.
Richardson Electronics, Ltd. (NASDAQ: RELL) has announced the hiring of two new Field Sales Engineers in Northern Italy and Japan for its Power & Microwave Technologies group. Stefano Modenesi brings extensive RF and Microwave experience, focusing on expanding accounts in Milan and the telecom sector. Naoki Yoshimura, with over 25 years in the industry, has started broadening the local account base in Japan. The company anticipates that their expertise will boost demand creation and market growth in these regions.
Richardson Electronics, Ltd. (NASDAQ: RELL) will announce its fourth quarter and fiscal year results for the period ending May 30, 2020, on July 22, 2020. The financial results will be made available on their website and via GlobeNewswire. Following the release, a conference call is scheduled for July 23, 2020, at 9:00 a.m. CDT, hosted by CEO Edward J. Richardson and CFO Robert J. Ben, which will include a Q&A session. Richardson Electronics specializes in engineered solutions across several markets including healthcare and alternative energy.
Richardson Electronics (NASDAQ: RELL) has launched the LS Mtron 3.0V 3400F ultracapacitor, recognized for its high power density and reliability. This ultracapacitor stores 4.2Wh of energy in a compact 390 cm3 package and offers 40% more capacity than previous models within the same size. With extensive R&D backing, this product enhances performance in extreme temperatures, showcasing Richardson's commitment to innovative energy solutions and positioning them effectively in the energy storage market.
Richardson Electronics (NASDAQ: RELL) has appointed two new Field Sales Engineers, Bill Nicklin and Cambrey Cammon, to enhance its Power & Microwave Technologies Group in the western U.S. Nicklin, a microwave design engineer with extensive sales experience, will cover Northern California and the Pacific Northwest. Cammon, with a background in engineering geophysics and over a decade of experience, will serve the Colorado area. The new hires aim to drive growth and strengthen customer relationships in key markets, as highlighted by EVP Greg Peloquin.
Richardson Electronics, Ltd. (NASDAQ: RELL) has announced the launch of StarPower’s new X-Series 1700V IGBT modules, featuring ultra-low conduction losses and short circuit ruggedness. Ranging from 50 to 600 amps, these modules cater to applications like industrial motor drives, renewable energy, and welding, supporting power outputs from 10kW to 1MW. Chris Marshall, CTO, expressed enthusiasm about expanding their IGBT power module portfolio to meet higher voltage requirements. Richardson provides engineered solutions across various markets, leveraging its extensive technical expertise.
Richardson Electronics (NASDAQ: RELL) has entered into a new distribution agreement with DAPU Telecom, a leader in frequency control and timing solutions. This collaboration aims to enhance reliability and quality across various applications, including RF and microwave communications, and 5G products. The partnership is expected to leverage DAPU's range of timing devices and innovative technologies, providing cost-competitive solutions. This agreement aligns with Richardson's strategy to offer engineered solutions and support through its global infrastructure, benefiting both companies in reaching their customers more effectively.
Richardson Electronics (NASDAQ: RELL) announced the hiring of Gyu Hyun Jason Ha as a Field Sales Engineer in Korea. Jason brings significant experience in RF and Wireless sales, having previously worked with Qorvo and MACOM, and holds a degree in electrical engineering from Hanyang University. His expertise is expected to drive growth in Richardson's key markets in Korea, according to Greg Peloquin, EVP and General Manager of the Power & Microwave Technologies Group. This strategic hire underscores Richardson's commitment to enhancing its engineering solutions and customer support in the region.
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