Welcome to our dedicated page for Richardson Electronics news (Ticker: RELL), a resource for investors and traders seeking the latest updates and insights on Richardson Electronics stock.
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 reported a strong first quarter for fiscal 2023, with net sales of $67.6 million, reflecting a 25.8% year-over-year increase. This marks the ninth consecutive quarter of sequential revenue growth, driven by all four business units, especially the new Green Energy Solutions segment, which saw a staggering 230.7% sales increase.
Gross margins improved to 34.1% from 30.3% last year, while operating income rose to $8.8 million. Earnings per share reached $0.45, up from $0.20. The company declared a $0.06 cash dividend.
Richardson Electronics, Ltd. (NASDAQ: RELL) has launched the ULTRAVOLTAGE3000, a voltage discharge tool designed for ultracapacitors. This product allows technicians to safely remove stored energy, minimizing hazards in the workplace. It features a lightweight design, voltage monitoring software, and compatibility with various ultracapacitor brands. The ULTRAVOLTAGE3000 complies with industry standards and is engineered for safety, addressing customer needs for energy management.
Richardson Electronics, Ltd. (NASDAQ: RELL) will release its financial results for the first quarter ending August 27, 2022, after market close on October 5, 2022. Investors can access the information on the Company's website. A conference call will follow on October 6, 2022, at 9:00 a.m. Central Time, hosted by CEO Edward J. Richardson and CFO Robert J. Ben, including a Q&A session. The Company focuses on engineered solutions across various industries, with over 60% of products manufactured in the U.S. and Germany. For more information, visit www.rell.com.
Richardson Electronics, Ltd. (NASDAQ: RELL) will exhibit at WindEnergy Hamburg 2022 from September 27-30, showcasing its engineered solutions for green energy and power management applications. The event expects over 1,400 attendees and offers an opportunity to connect and learn about the company's patented solutions. Richardson Electronics focuses on various markets including alternative energy and healthcare, with over 60% of its products manufactured in the U.S. and Germany. For more information, visit their website.
Richardson Electronics (NASDAQ: RELL) has announced a new patent-pending shunt resistor accessory for the ULTRA3000 Pitch Energy Module (PEM), which serves as a drop-in replacement for OEM shunt resistors in utility-scale wind turbines. This device enhances turbine operation by monitoring current feedback during pitch events, potentially reducing failures in pitch motor scenarios and decreasing downtime. The shunt is compatible with both battery and ultracapacitor systems and comes with installation hardware.
Richardson Electronics, Ltd. (NASDAQ: RELL) will showcase its engineered solutions at the KIEES 2022 Summer Symposium in South Korea from August 17-20, 2022. Celebrating 75 years in business, the company will engage with over 1000 attendees, highlighting innovations in RF and Microwave technology. The exhibition will feature topics including 5G Infrastructure, IoT, and Satellite Communication. Richardson’s executive, Greg Peloquin, emphasized the importance of local presence in delivering value through their products and services.
Canvys has launched a 32-inch 4K Ultra HD monitor designed for medical environments, featuring a brightness of 850 nits and high-performance controllers. The lightweight monitor (under 30 pounds) has a flat glass screen for easy cleaning, making it ideal for healthcare use. It boasts a resolution of 3840 × 2160 pixels, 10-bit color depth, and compliance with DICOM. Connectivity includes multiple input options like DVI, Display Port, and optional 12G-SDI support. The monitor can also come with a multi-touch PCAP touchscreen.
Richardson Electronics announces the hiring of three new field sales engineers across North America, France, and Malaysia. Dominik Norquist, with 20 years of experience, will focus on the Mountain States region; Emmanuel De Azevedo will manage French accounts; and Marina Getrie Parrot will operate from Malaysia. These additions aim to strengthen the company's demand creation model and support market growth initiatives. Richardson Electronics offers engineered solutions and is a leading manufacturer in several sectors, including healthcare and alternative energy, with over 60% of products manufactured in key locations worldwide.
Richardson Electronics (RELL) reported a stellar fiscal 2022, achieving 26.9% revenue growth to $224.6 million. The fourth quarter net sales reached $61.6 million, up 22.1% year-over-year, marking the eighth consecutive quarter of sequential revenue growth. Operating income surged to $5.0 million from $2.3 million in the prior year, and net income improved to $8.3 million. The quarterly cash dividend was declared at $0.06 per share. Despite rising costs, the company maintains a robust backlog of $206.2 million heading into fiscal 2023.
On July 20, 2022, Richardson Electronics, Ltd. (NASDAQ: RELL) will release its financial results for the fourth quarter and fiscal year ending May 28, 2022. A conference call is scheduled for July 21, 2022, at 9:00 a.m. CT, featuring Chairman and CEO Edward J. Richardson and CFO Robert J. Ben to discuss the results and answer questions.
Richardson Electronics manufactures engineered solutions, power grid, microwave tubes, and components, with over 60% of products made in the U.S. and Germany.
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