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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 entered into a global distribution agreement with Maury Microwave, a leader in RF technology solutions. This partnership aims to enhance support for customer test challenges and expand market reach within the RF community. Maury Microwave, founded in 1957, offers a broad range of products including calibration and measurement technologies. Richardson's strategy focuses on delivering innovative solutions, capitalizing on disruptive technologies, and ensuring exceptional customer service.
Richardson Electronics (NASDAQ: RELL) is launching its ULTRA3000® ultracapacitor modules in Europe, aimed at wind turbine energy storage and power delivery. This technology has achieved over 2 million operational hours in North America. The company will showcase its products at the Key Energy – Renewable Energy Expo in Italy from October 26-29, 2021. With the growing demand for green technologies in Europe, Richardson aims to capitalize on its established infrastructure to serve new and existing customers effectively.
Richardson Electronics (RELL) reported a strong first quarter for fiscal 2022, with net sales of $53.7 million, up 38.4% year-over-year. Operating income surged to $2.8 million, reversing a loss of $0.6 million from the previous year. Earnings per share improved to $0.20 from a loss of $0.09. Despite a decrease in gross margin to 30.3% from 31.8%, the company announced a $0.06 quarterly cash dividend. Cash and investments totaled $36.4 million, down from $43.3 million, attributed to increased working capital needs.
Richardson Electronics, Ltd. (Nasdaq: RELL) will present at the 14th annual LD Micro Main Event on October 13, 2021, at 10:30 a.m. PT / 1:30 p.m. ET in Los Angeles. CEO Edward J. Richardson will discuss the company's fiscal year 2021 and first quarter fiscal year 2022 performance, along with growth initiatives and the launch of the ULTRA3000® Pitch Energy Module for GE wind turbines. The conference runs from October 12-14, 2021, featuring around 150 companies.
Richardson Electronics, Ltd. (NASDAQ: RELL) will release its financial results for the first quarter ending August 28, 2021, after market close on October 6, 2021. The results will be available on the company's website and via GlobeNewswire. A conference call is scheduled for October 7, 2021, at 9:00 a.m. CDT, hosted by CEO Edward J. Richardson and CFO Robert J. Ben, featuring a Q&A session. The company's focus is on providing engineered solutions across various sectors, including healthcare and alternative energy.
Richardson Electronics (NASDAQ: RELL) has announced its partnership with SM Berger & Company to enhance its investor relations strategy. This collaboration aims to effectively communicate the company's growth in sectors like renewable energy and semiconductors. CEO Edward Richardson emphasized the firm's strong balance sheet and potential for sustainable value creation. Established in 1984, SM Berger specializes in assisting small-cap companies in capital market engagement. This strategic move seeks to broaden Richardson's investor outreach and support shareholder interests.
Richardson Electronics, Ltd. (NASDAQ: RELL) will present at the Sidoti Virtual Investor Conference on August 18, 2021, from 1:30 to 2 p.m. CDT. CEO Edward J. Richardson will discuss the company's fiscal performance and growth initiatives, including the launch of the ULTRA3000 Pitch Energy Module, a replacement for batteries in GE wind turbines. Investors can register for presentations and meetings via provided web links. For detailed information about their services across various markets, visit www.rell.com.
Richardson Electronics announced the issuance of U.S. Patent No. 11,073,130, which allows the replacement of lead-acid batteries in wind turbine pitch systems with ultracapacitors. The patented product, ULTRA3000® Pitch Energy Module (PEM), offers a plug-and-play solution for General Electric’s wind turbine systems, facilitating easy installation without modifications. The company aims to present the ULTRA3000® at two upcoming industry events in 2021, emphasizing its commitment to renewable energy innovation.
Richardson Electronics (NASDAQ: RELL) reported significant growth in Q4 FY21, with net sales of $50.5 million, an increase of 35.1% year-over-year. This growth was driven by strong demand across all business units, particularly in Richardson Healthcare, where sales surged 92.3% due to the ALTA750™ Tubes. Operating income reached $2.3 million, compared to a loss of $1.3 million in the previous year. The gross margin improved to 32.4%. For fiscal year 2021, net sales rose 13.5% to $176.9 million, with earnings per share at $0.14 for Q4 and $0.13 for the year.
Richardson Electronics, Ltd. (NASDAQ: RELL) will release its financial results for the fourth quarter and fiscal year ending May 29, 2021, on July 21, 2021. The results will be available on their website and via GlobeNewswire. A conference call, led by CEO Edward J. Richardson and CFO Robert J. Ben, is scheduled for July 22, 2021, at 9:00 a.m. CDT to discuss the results with a Q&A session. The company specializes in engineered solutions and serves multiple industries, including healthcare and alternative energy.
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