Richardson Electrs Ltd Stock Price, News & Analysis

Richardson Electronics (NASDAQ: RELL) announced a new distribution agreement with AC Propulsion on August 25, 2020, focusing on their inverter products. AC Propulsion specializes in developing high-performance, high-efficiency inverter systems for various markets including automotive and industrial applications. This partnership aims to leverage AC Propulsion’s advanced SiC technology, enhancing Richardson's product offerings and market reach. The collaboration is expected to open new opportunities in growing markets, bolstering both companies' positions in the EV sector.

Richardson Electronics, Ltd (NASDAQ: RELL) announced today that it has received approval for its die handling program from Qorvo, enhancing its ability to serve customers with high-performance RF products. As a factory authorized die movement facility, the company can now fulfill smaller quantity orders for prototypes and pre-production builds, providing greater design flexibility. Executive VP Greg Peloquin highlighted the significance of this certification in supporting global customers. This advancement is crucial for demand creation on die-related products.

Richardson Electronics (NASDAQ: RELL) announced its participation in the KIEES 2020 Summer Symposium, scheduled from August 19-22 on Jeju Island, South Korea. The event will attract nearly 1,000 attendees and focus on advancements in Radio Frequency (RF) and Microwave technologies, including 5G Infrastructure and IoT. Greg Peloquin, Executive VP, emphasized the importance of the Korean market, highlighting its status as a leader in microwave technology and the company’s commitment to investing in regional suppliers.

Richardson Electronics, Ltd. (NASDAQ: RELL) announced its participation in the virtual International Microwave Symposium (IMS2020) from August 4-6, 2020. This conference, focusing on radio frequency and microwave technologies, has transitioned to a digital format due to COVID-19. The event will showcase the latest innovations including 5G developments. RELL's Power & Microwave Technologies group will host a virtual booth, allowing attendees to interact with representatives and access resources until September 30, 2020. The conference participation is free for IEEE MTT-S members and open to others for exhibitions.

Richardson Electronics, Ltd. (NASDAQ: RELL) announced its support for the upcoming Qorvo Design Summit, a virtual webinar series commencing in August. This initiative aims to address design challenges in RF and power management technology, crucial for applications like 5G and Wi-Fi. Greg Peloquin, EVP of Richardson's Power & Microwave Technologies group, expressed enthusiasm for collaborating with Qorvo to deliver solutions and education to engineers. The complete schedule and registration details for the webinars are available online.

Richardson Electronics reported Q4 FY2020 net sales of $37.4 million, down 11.4% due to COVID-19 impacts. Gross margin improved to 30.4%, up from 29.7% in Q4 FY2019, driven by better product mix and efficiency. Operating loss narrowed to $1.3 million from $6.4 million, which included a $6.3 million goodwill impairment last year. For FY2020, sales fell 6.5% to $155.9 million, with a net loss of $1.8 million compared to $7.3 million in FY2019. The Board declared a $0.06 quarterly cash dividend. Cash and investments rose to $46.5 million.

Richardson Electronics, Ltd. (NASDAQ: RELL) has announced the hiring of two new Field Sales Engineers in Northern Italy and Japan for its Power & Microwave Technologies group. Stefano Modenesi brings extensive RF and Microwave experience, focusing on expanding accounts in Milan and the telecom sector. Naoki Yoshimura, with over 25 years in the industry, has started broadening the local account base in Japan. The company anticipates that their expertise will boost demand creation and market growth in these regions.

Richardson Electronics, Ltd. (NASDAQ: RELL) will announce its fourth quarter and fiscal year results for the period ending May 30, 2020, on July 22, 2020. The financial results will be made available on their website and via GlobeNewswire. Following the release, a conference call is scheduled for July 23, 2020, at 9:00 a.m. CDT, hosted by CEO Edward J. Richardson and CFO Robert J. Ben, which will include a Q&A session. Richardson Electronics specializes in engineered solutions across several markets including healthcare and alternative energy.

Richardson Electronics (NASDAQ: RELL) has launched the LS Mtron 3.0V 3400F ultracapacitor, recognized for its high power density and reliability. This ultracapacitor stores 4.2Wh of energy in a compact 390 cm³ package and offers 40% more capacity than previous models within the same size. With extensive R&D backing, this product enhances performance in extreme temperatures, showcasing Richardson's commitment to innovative energy solutions and positioning them effectively in the energy storage market.