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 (NASDAQ: RELL) will showcase its patented ULTRA3000 pitch energy module at the ACP O&M and Safety Conference from March 8-10, 2022, in San Diego, CA. The ULTRA3000 technology enhances energy storage and power management for wind turbine systems, offering ease of installation and reduced downtime by replacing traditional lead-acid batteries. The company aims to expand its product portfolio with innovative solutions for clean energy. The conference addresses critical industry challenges related to health, safety, and operations.
Richardson Electronics (NASDAQ: RELL) announces the launch of SemiQ’s 1200V 80mΩ SiC MOSFETs, expanding their silicon carbide portfolio. These two new MOSFET models, GP2T080A120U and GP2T080A120H, enhance design flexibility for high-performance applications, including electric vehicles and data centers. The new products outperform legacy silicon IGBTs by providing faster switching and lower losses, which can lead to reduced system size and cooling needs. Samples are available upon request, reinforcing Richardson's commitment to supporting customers in developing cutting-edge technology.
Richardson Electronics (NASDAQ: RELL) reported a robust second quarter for fiscal 2022, with net sales of $54.0 million, reflecting a 27.3% increase year-over-year. Key growth areas included PMT, Canvys, and Healthcare, leading to an operating income of $4.5 million and net income of $4.1 million. Although gross margin decreased to 32.7% from 33.8% due to product mix and higher freight costs, the company announced a $0.06 quarterly dividend. Backlog rose to $146.9 million, indicating strong demand for its products.
Richardson Electronics, Ltd. (NASDAQ: RELL) will release its financial results for Q2 2022, ending November 27, 2021, on January 5, 2022. The results will be available on their website and through GlobeNewswire. A conference call to discuss the results will take place on January 6, 2022, at 9:00 a.m. CST, featuring Edward J. Richardson, Chairman and CEO, and Robert J. Ben, CFO. Participants can join by calling specified numbers and using Conference ID 2592902. A replay will be available post-call.
Richardson Electronics announces the issuance of U.S. Patent No. 11,193,471 for its ULTRA3000® Pitch Energy Module, a breakthrough in replacing batteries in wind turbine pitch systems. This is the second patent for this technology, signaling ongoing innovation in renewable energy solutions. The ULTRA3000® PEM offers a plug-and-play replacement for batteries, requiring no modifications for installation. This new patent reinforces Richardson's commitment to cost-effective and environmentally friendly energy solutions.
Richardson Electronics, Ltd. (NASDAQ: RELL) reported preliminary Q2 FY22 revenue of approximately $54.0 million, reflecting a 27.3% increase year-over-year. The backlog rose to $146.9 million, up from $126.5 million, indicating strong demand across all business units.
The company attributed this growth to robust end-market demand and successful product expansion initiatives. Key highlights include record sales from Canvys and increased shipments of ALTA750 tubes. Full financial results will be announced on January 5, 2022.
Richardson Electronics, Ltd. (Nasdaq: RELL) will present at the Sidoti & Company Winter Virtual Micro Cap Investor Conference on December 8, 2021. CEO Edward J. Richardson will discuss the company's fiscal year 2021 performance and offer a preliminary update on the second quarter of fiscal year 2022, which ended November 27, 2021. The presentation will also cover growth initiatives, including their patented ULTRA3000 Pitch Energy Module for wind turbine solutions. Registration for the event is free, and a replay will be available for 90 days.
Richardson Electronics, Ltd. (NASDAQ: RELL) will exhibit at the CLEANPOWER event on December 7-8, 2021, in Salt Lake City, showcasing the ULTRA3000 ultracapacitor-based energy module. This technology, with over 2 million hours of operational success, offers an efficient alternative to lead-acid batteries in wind turbine generators, reducing installation complexity and downtime.
Greg Peloquin, Executive Vice President, emphasized the company's commitment to introducing innovative power management solutions to a rapidly changing market.
Richardson Electronics (NASDAQ: RELL) has launched AMOGREENTECH’s energy storage system solutions utilizing lithium-iron-phosphate batteries. These batteries are characterized by high efficiency, long cycle life, and a low risk of fire or explosion. Assembled in Korea and the USA, they can charge to 80% in just 10 minutes and perform well at temperatures as low as -30°C. The collaboration aims to enhance Richardson’s power management strategy by leveraging its design capabilities for developing advanced battery solutions.
Richardson Electronics, Ltd. (NASDAQ: RELL) has announced a global distribution agreement with Wakefield Thermal Management to enhance its thermal management product offerings. This partnership will expand Richardson's capabilities in providing tailored design solutions across various industries, including Power Conversion, Information Technology, and Aerospace. Wakefield has a long-standing reputation since 1957 for delivering innovative thermal solutions.
Richardson's collaboration aims to leverage Wakefield's extensive product range, including heat sinks and cooling systems, to better serve its customer base in power electronics.
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