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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, Ltd. (NASDAQ:RFIL) announced a significant order of $6.9 million from its Cables Unlimited division for its OptiFlex™ hybrid fiber solution. This order, part of the company's support for a new North American wireless carrier, contributes to a current backlog of approximately $34 million. Total orders for the hybrid fiber solution have surpassed $7.5 million for this carrier's 4G/5G infrastructure build. The company anticipates starting shipments by the end of fiscal year 2022, signaling strong market demand and a growing presence in the wireless sector.
RF Industries, Ltd. (NASDAQ:RFIL) will announce its financial results for the second quarter ended April 30, 2022, on June 14, 2022, after market close. The company will host a conference call at 4:30 PM ET to discuss these results, accessible via a toll-free number for US and Canada participants. An archived webcast will also be available on its investor relations website. RF Industries manufactures interconnect products for various markets, including telecom and data communications, and is headquartered in San Diego, CA.
RF Industries (NASDAQ:RFIL) announced that President and CEO Rob Dawson, along with CFO Peter Yin, will engage in a fireside chat at the B. Riley Securities 22nd Annual Institutional Investor Conference on May 26, 2022, at 1:40 p.m. PT. The event takes place from May 25-26 at The Beverly Hilton in Beverly Hills, California, featuring one-on-one meetings with institutional investors throughout the day. For meeting arrangements, contact RF Industries’ investor relations firm, MKR Investor Relations.
RF Industries announced the expansion of its small cell concealment solutions with a new patented technology, TruField, developed in partnership with Saint-Gobain. This innovative product offers less than 0.2 dB of RF loss at various angles and is customizable for current and future 4G/5G configurations. TruField is lightweight, climate-resilient, and low maintenance, catering to the growing demand for 5G solutions. RF Industries will showcase this technology at the Connect(X) event on May 23, 2022, positioning itself to meet increasing industry demands.
RF Industries has announced key leadership changes to aid in integrating the acquisition of Microlab/FXR LLC and to enhance its growth strategy. Ray Bibisi has moved to Chief Operating Officer, focusing on operational efficiencies and supply chain optimization. Christophe Massenet has been promoted to Vice President of Technology and Engineering, overseeing a new centralized technology office. These changes aim to bolster the company's innovative product development as it adapts to industry demands.
RF Industries, Ltd. (NASDAQ:RFIL) reported a robust 69% year-over-year increase in net sales for Q1 fiscal 2022, reaching $16.9 million. The company’s backlog stood at $27.9 million as of January 31, 2022. Despite a gross profit margin decrease to 24% from 26% due to supply chain issues, the operating loss improved to $362,000 from $589,000 year-over-year. The net loss narrowed to $277,000 ($0.03 per diluted share). Highlighting strong growth potential, RF Industries raised its full-year revenue guidance from over $63 million to over $75 million.
RF Industries, Ltd. (NASDAQ:RFIL) announced it will release its financial results for the first quarter ended January 31, 2022, on March 17, 2022, before market opening. A conference call will follow at 8:30 AM ET to discuss these results. Investors can join the call by calling 877-545-0523 (US) or 973-528-0016 (International) with access code 274196. A live and archived webcast will be available on the company's investor relations website. RF Industries is headquartered in San Diego and specializes in manufacturing interconnect products for various markets.
RF Industries has completed its acquisition of Microlab/FXR LLC, enhancing its portfolio in the RF and Microwave components sector. The acquisition, valued at an undisclosed amount, is anticipated to significantly boost revenue by leveraging Microlab's existing customer relationships and high-performance products, which generated approximately $16 million in revenue and $3.7 million in EBITDA for the year ending September 30, 2021. The combined entity aims to capitalize on growth opportunities in the small cell and DAS markets, promising immediate financial benefits and operational synergies.
RF Industries (NASDAQ:RFIL) announced the lease of an 86,952 square foot facility in San Diego, which will serve as its new corporate headquarters. The move aims to consolidate its RF Connector and Cable Assembly divisions, supporting growth and operational efficiency. The facility is set to enhance production capabilities and foster a collaborative company culture, with over 150 employees expected to work there. The expected move-in date is at the end of 2022, pending renovations.
RF Industries, Ltd. (NASDAQ:RFIL) reported significant fourth quarter and fiscal year financial results for 2021. Net sales surged by 38% sequentially and 97% year-over-year to $21.1 million. The company's backlog at year-end stood at $33.3 million. Gross profit margin was 25.3%, a slight decrease from the previous quarter. The net income for the quarter was $813,000, or $0.08 per diluted share. For fiscal 2021, sales rose 33% year-over-year to $57.4 million, with a net income of $6.2 million, reflecting the impact of the Employee Retention Tax Credits.
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