Welcome to our dedicated page for Richardson Electrs news (Ticker: RELL), a resource for investors and traders seeking the latest updates and insights on Richardson Electrs stock.
Richardson Electronics, Ltd. reports developments across engineered solutions for alternative energy and power management markets, RF and microwave products, industrial laser consumables, and custom displays for medical and industrial OEMs. Its updates commonly cover quarterly results, cash dividends, backlog and segment trends, and demand from end markets such as healthcare, semiconductor, communications, industrial, aviation, military, scientific, and marine applications.
Company news also includes product and channel activity for Canvys visual technology solutions, the LaserSlat SAVER laser-cutting maintenance product, and technology partnerships that expand RF and microwave component offerings. Richardson Electronics emphasizes design-in support, systems integration, prototype manufacturing, testing, logistics, and aftermarket technical service through its global infrastructure.
Richardson Electronics, Ltd. (NASDAQ: RELL) reported net sales of $55.3 million for Q3 FY2022, up 22.3% year-over-year. All business units contributed to this growth, with backlog increasing to $175.6 million. Gross margin decreased to 31.8% due to product mix and rising freight costs. Operating income for the quarter was $3.6 million, significantly up from $0.3 million in Q3 FY2021, and net income rose to $2.9 million from $0.2 million.
The company declared a $0.06 quarterly cash dividend, reflecting confidence in continued growth.
Richardson Electronics, Ltd. (NASDAQ: RELL) will announce its financial results for the third quarter ended February 26, 2022, on April 6, 2022. The results will be available on its website and via GlobeNewswire. A conference call is scheduled for April 7, 2022, at 9:00 a.m. CT, where CEO Edward J. Richardson and CFO Robert J. Ben will discuss the results along with a Q&A session. The company specializes in engineered solutions across multiple sectors, including healthcare and alternative energy, with over 60% of products manufactured in the U.S. and Germany.
Richardson Electronics has announced the issuance of U.S. Patent No. 11,257,652, which covers a conductive coating applied to the insulator of X-ray tubes. This innovation aims to enhance manufacturing efficiency, reduce waste, and improve recyclability of components. The coating allows for lower temperature application, preserving sensitive insulator parts. According to Wendy Diddell, the COO, this development aims to lower healthcare costs and improve component sustainability. Richardson plans to integrate this technology into future CT tube manufacturing programs.
Richardson Electronics (NASDAQ: RELL) will showcase its patented ULTRA3000 pitch energy module at the ACP O&M and Safety Conference from March 8-10, 2022, in San Diego, CA. The ULTRA3000 technology enhances energy storage and power management for wind turbine systems, offering ease of installation and reduced downtime by replacing traditional lead-acid batteries. The company aims to expand its product portfolio with innovative solutions for clean energy. The conference addresses critical industry challenges related to health, safety, and operations.
Richardson Electronics (NASDAQ: RELL) announces the launch of SemiQ’s 1200V 80mΩ SiC MOSFETs, expanding their silicon carbide portfolio. These two new MOSFET models, GP2T080A120U and GP2T080A120H, enhance design flexibility for high-performance applications, including electric vehicles and data centers. The new products outperform legacy silicon IGBTs by providing faster switching and lower losses, which can lead to reduced system size and cooling needs. Samples are available upon request, reinforcing Richardson's commitment to supporting customers in developing cutting-edge technology.
Richardson Electronics (NASDAQ: RELL) reported a robust second quarter for fiscal 2022, with net sales of $54.0 million, reflecting a 27.3% increase year-over-year. Key growth areas included PMT, Canvys, and Healthcare, leading to an operating income of $4.5 million and net income of $4.1 million. Although gross margin decreased to 32.7% from 33.8% due to product mix and higher freight costs, the company announced a $0.06 quarterly dividend. Backlog rose to $146.9 million, indicating strong demand for its products.
Richardson Electronics, Ltd. (NASDAQ: RELL) will release its financial results for Q2 2022, ending November 27, 2021, on January 5, 2022. The results will be available on their website and through GlobeNewswire. A conference call to discuss the results will take place on January 6, 2022, at 9:00 a.m. CST, featuring Edward J. Richardson, Chairman and CEO, and Robert J. Ben, CFO. Participants can join by calling specified numbers and using Conference ID 2592902. A replay will be available post-call.
Richardson Electronics announces the issuance of U.S. Patent No. 11,193,471 for its ULTRA3000® Pitch Energy Module, a breakthrough in replacing batteries in wind turbine pitch systems. This is the second patent for this technology, signaling ongoing innovation in renewable energy solutions. The ULTRA3000® PEM offers a plug-and-play replacement for batteries, requiring no modifications for installation. This new patent reinforces Richardson's commitment to cost-effective and environmentally friendly energy solutions.
Richardson Electronics, Ltd. (NASDAQ: RELL) reported preliminary Q2 FY22 revenue of approximately $54.0 million, reflecting a 27.3% increase year-over-year. The backlog rose to $146.9 million, up from $126.5 million, indicating strong demand across all business units.
The company attributed this growth to robust end-market demand and successful product expansion initiatives. Key highlights include record sales from Canvys and increased shipments of ALTA750 tubes. Full financial results will be announced on January 5, 2022.
Richardson Electronics, Ltd. (Nasdaq: RELL) will present at the Sidoti & Company Winter Virtual Micro Cap Investor Conference on December 8, 2021. CEO Edward J. Richardson will discuss the company's fiscal year 2021 performance and offer a preliminary update on the second quarter of fiscal year 2022, which ended November 27, 2021. The presentation will also cover growth initiatives, including their patented ULTRA3000 Pitch Energy Module for wind turbine solutions. Registration for the event is free, and a replay will be available for 90 days.