RF Industries Receives $6.9 Million Order Supporting New North American Wireless Carrier Customer’s Infrastructure Build
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.
- Received a $6.9 million order for OptiFlex™ hybrid fiber solution.
- Current backlog stands at approximately $34 million.
- Total orders for the hybrid fiber solution exceed $7.5 million.
- Indicates a growing presence in the North American wireless market.
- None.
Current Backlog Stands at Approximately
SAN DIEGO, CA / ACCESSWIRE / June 13, 2022 / RF Industries, Ltd, (NASDAQ:RFIL), a national manufacturer and marketer of interconnect products and systems, today announced it has received a
Robert Dawson, President and CEO of RF Industries, commented, "We are excited to announce this substantial order supporting the next generation infrastructure build for a new North American wireless carrier customer. This is the first time in company history that we have multiple concurrent large customers actively deploying our OptiFlex™ hybrid fiber solution in next generation wireless builds. Including this order, we have received more than
"These orders from this new customer are another great win for the RF Industries team and are an example of our increasing value in the market. OptiFlex™, the hybrid fiber solution engineered, designed, and built by our Cables Unlimited team in Long Island, continues to gain market share in the North American wireless marketplace. With our increasingly strong product and solutions offer and our unique value proposition in the market, we believe we are well-positioned to benefit as the overall spend on 4G and 5G deployments continues to increase."
With this order, RF Industries' backlog stands at approximately
OptiFlex™ is a composite of multiple cables, including all or a variation of power, coax, ethernet and fiber. This product line is a customizable solution that is engineered and designed to fit the exact needs of RF Industries' customers as they upgrade their wireless tower sites from 3G to 4G and LTE and 5G. For more information on OptiFlex™, click here.
About RF Industries
RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets, including wireless/wireline telecom, data communications and industrial. The Company's products include high-performance components such as RF connectors and adapters, RF passives including dividers, directional couplers and filters, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut, North Kingstown, Rhode Island and Parsippany, New Jersey. Please visit the RF Industries website at www.rfindustries.com.
Forward-Looking Statements
This press release contains forward-looking statements with respect to future events, including opportunities for sales growth, overall margin improvement and revenue growth and the expecting timing of order fulfillment, which are subject to a number of factors that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to: the Company's ability to successfully integrate Microlab and realize anticipated synergies, the duration and continuing impact of the coronavirus pandemic on the U.S. economy and the Company's customers; changes in the telecommunications industry; the Company's reliance on certain distributors and customers for a significant portion of anticipated revenues; the impact of existing and additional future tariffs imposed by U.S and foreign nations; the Company's ability to execute on its new go-to-market strategies and channel models; its ability to expand its OEM relationships; its ability to continue to deliver newly designed and custom fiber optic and cabling products to principal customers; its ability to maintain strong margins and diversify its customer base; and its ability to address the changing needs of the market. Further discussion of these and other potential risk factors may be found in the Company's public filings with the Securities and Exchange Commission (www.sec.gov) including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. All forward-looking statements are based upon information available to the Company on the date they are published, and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.
Contacts:
RF Industries, Ltd.
Peter Yin
SVP and CFO
(858) 549-6340
rfi@rfindustries.com
MKR Investor Relations
Todd Kehrli
Analyst/Investor Contact
(323) 468-2300
rfil@mkr-group.com
SOURCE: RF Industries, Ltd.
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FAQ
What recent order did RF Industries receive for its hybrid fiber solutions?
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