Welcome to our dedicated page for RF Industries news (Ticker: RFIL), a resource for investors and traders seeking the latest updates and insights on RF Industries stock.
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 has announced a definitive agreement to acquire Microlab LLC, a radio frequency components business, for approximately $24.25 million. This acquisition is expected to enhance RF Industries' financials and operating synergies, with Microlab generating about $16 million in revenue and $3.7 million in adjusted EBITDA for the twelve months leading up to September 30, 2021. The transaction, awaiting approval from Wireless Telecom Group shareholders, is anticipated to close in the first quarter of 2022.
RF Industries (NASDAQ:RFIL) will release its financial results for Q4 and fiscal year ending October 31, 2021 on December 22, 2021, before market open. A conference call is scheduled for the same day at 8:30 AM ET to discuss the earnings. Interested parties can join by calling 888-506-0062 for US/Canada or 973-528-0011 for international access. Webcast details will be available on their investor relations website, and a phone replay will be offered post-call for two weeks.
RF Industries announced a follow-on order exceeding $10 million from a tier-1 wireless carrier for its OptiFlex hybrid fiber solution. This order contributes to a total backlog of $34.5 million as of October 12, 2021. The company has previously secured multiple large orders from the same customer this fiscal year. RF Industries emphasizes the increasing demand for its products as carriers accelerate network upgrades, aiming to enhance speed and coverage.
RF Industries, Ltd. (NASDAQ:RFIL) reported strong financial results for Q3 of fiscal 2021, ending July 31, 2021, with net sales rising 38% sequentially and 60% year-over-year, reaching $15.3 million. The company achieved a backlog of $31.5 million, with operating income of $1.2 million, influenced by $800,000 in Employee Retention Tax Credits. Net income stood at $926,000 or $0.09 per diluted share. Looking ahead, the company anticipates further revenue growth in Q4.
RF Industries, Ltd. (NASDAQ: RFIL) will release its third-quarter financial results for the period ending July 31, 2021, on September 13, 2021, after the market closes. The company will hold a conference call on the same day at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results. Investors can access the live call by dialing 844-407-9500 (US) or 862-298-0850 (International). An archived webcast will be available on the company’s website.
RF Industries, Ltd. (NASDAQ:RFIL) announced that its President and CEO Rob Dawson, along with CFO Peter Yin, will present at the Oppenheimer Virtual 24th Annual Technology, Internet & Communications Conference on August 11, 2021, at 9:25 am PT. The presentation will be accessible via a live webcast and replay on the company's investor relations website. Investors can also arrange one-on-one meetings with management throughout the day. RF Industries specializes in manufacturing interconnect products for various sectors including telecom and data communications.
RF Industries has secured a follow-on order worth over $11 million from a tier-1 wireless carrier for its OptiFlex™ hybrid fiber solution, contributing to a total backlog of $32.2 million. Previous orders from the same customer amounted to $6.5 million in March and $7.6 million in May. The company anticipates shipping will commence in early November 2021. This order underscores increased demand for RF Industries' products as wireless carriers ramp up their 5G network infrastructure.
RF Industries, Ltd (NASDAQ:RFIL) announced its second quarter fiscal 2021 results, reporting a 11% sequential increase in net sales to $11.1 million. The company’s backlog at April 30, 2021 was $15.6 million, with current backlog at a record $22.8 million. Gross profit margin was reported at 43%, boosted by $2.6 million in Employee Retention Tax Credits and $2.8 million in PPP loan forgiveness. Net income reached $4.8 million, or $0.48 per diluted share. Looking ahead, the company anticipates continued sales growth in the third quarter and a return to year-over-year revenue growth.
RF Industries (NASDAQ:RFIL) announced it will release its financial results for the second quarter ended April 30, 2021, on June 14, 2021, after market close. The company will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results. Interested parties can access the live call by dialing 877-407-8031 or 201-689-8031 for international callers. An archived version of the call will be available on the company's website along with a phone replay for two weeks post-call.
RF Industries has secured a $7.6 million follow-on order from a tier-1 wireless carrier customer, boosting its backlog to $23.8 million. This order, aimed at aiding the build-out of wireless tower sites, underscores the growing demand for RF Industries' OptiFlex™ hybrid fiber solution. The company anticipates commencing shipments in the second half of the current fiscal year, concluding on October 31, 2021. This significant win is expected to fuel future revenue growth as wireless carriers advance their 5G infrastructure deployments.
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