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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 (NASDAQ:RFIL) has established a Strategic Planning and Capital Allocation Committee aimed at enhancing M&A activities, cost-saving initiatives, and strategic actions for growth. The committee, chaired by Mark Holdsworth, includes board members Gerald Garland and CEO Robert Dawson. The initiative intends to create long-term value for shareholders by identifying actions to accelerate growth in diverse markets, including telecom and data communications. The formation responds to market dynamics and seeks to bolster the company's strategic direction.
RF Industries announced a significant $535,000 order for small cell installation kits from a large neutral host customer, aimed at supporting a tier-1 wireless carrier. This order builds on previous small cell shroud orders and positions the company well within the expanding small cell infrastructure market, driven by growing demand for enhanced network coverage and capacity. RF Industries emphasizes that these kits exemplify their capabilities across multiple product areas, indicating a strong collaboration in the ongoing 5G buildout.
RF Industries has announced a significant win with a $6.5 million follow-on order from a new tier-1 wireless carrier customer for its OptiFlex™ hybrid fiber solution. This order contributes to a backlog of over $15 million and is aimed at supporting the build-out of wireless tower sites. The company expects to commence shipping this order in the second half of its fiscal year ending October 31, 2021. The OptiFlex™ product line is crucial for the company's growth and supports the carrier ecosystem in deploying 5G infrastructure.
RF Industries (NASDAQ:RFIL) reported a net sales of $10.0 million for Q1 fiscal 2021, reflecting a 6.5% decrease from the previous quarter due to seasonal trends and delayed shipments. The company experienced a gross profit margin of 26%, a slight decrease of 0.2% year-over-year. A GAAP net loss per diluted share was recorded at ($0.04), contrasting with a net income of $0.02 in Q4 2020. However, backlog increased to $7.1 million, and distribution sales rose 15% compared to the previous year. RF Industries anticipates revenue growth as market conditions improve.
RF Industries, Ltd. (NASDAQ:RFIL), a manufacturer of interconnect products, will participate in the 33rd Annual Roth Conference from March 15-17, 2021. The company's President and CEO, Robert Dawson, alongside CFO Peter Yin, will engage in one-on-one meetings with investors on March 16. A pre-recorded investor presentation will be available on the company's website prior to the event. RF Industries specializes in various interconnect products used in telecommunications, data communications, and industrial sectors, with a focus on quality and innovation.
RF Industries, Ltd. (NASDAQ:RFIL) has scheduled a financial results announcement for the first quarter ending January 31, 2021, on March 11, 2021, post-market close. A conference call and live webcast will occur on the same day at 1:30 PM PT (4:30 PM ET) to discuss these results. Investors can access the call by dialing 877-407-8031 (U.S. and Canada) or 201-689-8031 (International). The company offers a diverse range of interconnect products, including RF connectors and coaxial cables, serving various markets.
RF Industries, Ltd. (NASDAQ:RFIL) has announced the promotion of Peter Yin to Chief Financial Officer, effective immediately. Yin, who has served as the interim CFO since July 2020, joined the company in 2014 and has played a vital role in managing finances during challenging times. Robert Dawson, CEO, expressed confidence in Yin's leadership for driving long-term growth. RF Industries designs and manufactures interconnect products for various markets, including wireless and data communications. The company's headquarters is located in San Diego, California.
RF Industries has appointed Mark K. Holdsworth to its board of directors following the retirement of Howard Hill. Holdsworth, a founder of The Holdsworth Group, brings extensive experience in investing, mergers, and acquisitions. His background includes managing nearly $9 billion at Tennenbaum Capital Partners. President Robert Dawson expressed optimism about Holdsworth's contributions to the company's growth strategy, particularly in M&A activities. Holdsworth is also a substantial shareholder, eager to unleash RF Industries' potential.
RF Industries announces the retirement of co-founder Howard F. Hill from its board, effective December 22, 2020, after 41 years of service. Hill, 80, co-founded the company in 1979 and served as CEO until 2015. His leadership played a pivotal role in establishing the company’s foundation for success. Robert Dawson, current President and CEO, expressed gratitude for Hill’s dedication and contributions. RF Industries designs and manufactures interconnect products across various markets, including telecom and data communications, with headquarters in San Diego, California.
RF Industries, Ltd. (NASDAQ:RFIL) reported its Q4 and fiscal year 2020 results, revealing a 12% sequential increase in net sales to $10.7 million. The gross margin was recorded at 28%, while the company posted a net income of $159,000, or $0.02 per diluted share, recovering from a loss of $(82,000) in the prior quarter. Additionally, the non-GAAP net income stood at $356,000, with adjusted EBITDA up 13% to $329,000. Cash and cash equivalents totaled $15.8 million. CEO Robert Dawson expressed optimism for continued growth in fiscal 2021.
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