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RF Industries Ltd (NASDAQ: RFIL) is a leading designer and manufacturer of innovative interconnect products and complex cable assemblies, catering to diversified, high-growth markets including wireless carriers, infrastructure, and industrial sectors. Headquartered in San Diego, California, with operations in New York, New Jersey, Connecticut, Rhode Island, Canada, Israel, and Mexico, the company is well-positioned to serve a global customer base.
RF Industries specializes in the development, manufacturing, and marketing of a wide array of interconnect products and systems. Their portfolio includes RF connectors, coaxial and custom cable assemblies, fiber optic cables, wiring harnesses, and RF passives such as dividers, directional couplers, and filters. These cutting-edge connectivity solutions are crucial for the expanding and evolving wireless infrastructure market.
The company operates through two main segments: RF Connector and Cable Assembly Division, and Custom Cabling Manufacturing and Assembly Division. The former focuses on standard and custom RF connector solutions, while the latter includes subsidiaries specializing in custom cable assemblies and specialty cabling solutions.
In recent times, RF Industries has showcased resilience in the face of market challenges. Despite a challenging fiscal 2023 due to a pause in wireless carrier capex spending, the company has successfully navigated through operational hurdles. Key initiatives such as consolidation and cost reduction activities have been implemented to streamline operations and enhance profitability. These efforts have already shown promising results, reflected in their improved financial metrics and increased backlog of orders.
Recent strategic advancements include the launch of the Microlab
RF Industries announced its first fiscal quarter results for 2023, revealing a net sales increase of 8.4% to $18.3 million compared to Q1 2022. The company reported a gross profit margin of 27.7%, up 360 basis points year-over-year, attributed to higher-margin sales from Microlab. However, it faced an operating loss of $(1.2) million and a consolidated net loss of $(1.2) million, primarily due to decreased sales to wireless carriers. The backlog stands at $24.0 million, and management expects sequential sales growth in Q2 2023, with improved profitability in the second half of the year.
RF Industries (NASDAQ:RFIL) announced participation in the 35th Annual Roth Conference on March 14, 2023. President and CEO Rob Dawson and CFO Peter Yin will engage with institutional investors for one-on-one meetings. RF Industries, a leader in interconnect products, serves diverse markets including wireless/wireline telecom, data communications, and industrial sectors. The company is headquartered in San Diego, CA, with additional locations in New York, Connecticut, Rhode Island, and New Jersey. For inquiries or to schedule meetings, contact RF Industries' investor relations.
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