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Richardson Electronics Ltd (RELL) delivers engineered solutions powering critical infrastructure across energy, healthcare, and industrial sectors. This dedicated news hub provides investors and industry professionals with official updates and analysis on RELL's global operations.
Access timely announcements including quarterly earnings, product launches, strategic partnerships, and technology innovations. Our curated collection ensures you stay informed about developments in power grid components, microwave technologies, green energy systems, and medical imaging solutions.
Key updates cover operational expansions, R&D advancements, and market-specific initiatives across RELL's core segments. Bookmark this page for direct access to verified financial disclosures, executive commentary, and milestone achievements from a NASDAQ-listed industry leader.
Richardson Electronics, (NASDAQ: RELL) is set to exhibit its ultracapacitor pitch energy modules at the WindEnergy Hamburg Event from September 24-27, 2024. The company will introduce its ULTRAPEM™ and ULTRA3000® products to the European market, custom-designed for GE, Nordex, Senvion, Alstom, and Suzlon wind turbine platforms. The ULTRA3000® is a drop-in replacement for lead-acid batteries in wind turbine pitch systems, offering improved lifespan and reduced environmental impact. Richardson Electronics has already shipped and installed over 55,000 patented ULTRA3000® pitch energy modules in North America, marking the largest retrofit of ultracapacitors for PEMs in the region.
Richardson Electronics (NASDAQ: RELL) reported its Q4 and fiscal year 2024 results, declaring a $0.06 quarterly cash dividend. Q4 net sales decreased 19.5% year-over-year to $47.4 million, with a gross margin improvement of 320 basis points to 31.1%. The company reported a Q4 operating loss of $0.1 million and a net loss of $0.1 million. For fiscal 2024, net sales decreased 25.2% to $196.5 million, with operating income of $0.3 million and net income of $0.1 million.
Despite challenging market conditions, the company achieved its first year-over-year reduction in inventory since fiscal 2017 and generated $7.2 million in Q4 operating cash flow. Richardson Electronics ended the year with $24.3 million in cash and no debt. Management expects a return to year-over-year sales growth and higher profitability in fiscal 2025.
Richardson Electronics (NASDAQ: RELL) has announced the date for its Fourth Quarter Fiscal Year 2024 Conference Call. The company will release its financial results for the quarter ended June 1, 2024, after market close on Wednesday, July 24, 2024. A conference call to discuss the results will be held on Thursday, July 25, 2024, at 9:00 a.m. Central Time.
The call will be hosted by Edward J. Richardson, Chairman and CEO, and Robert J. Ben, CFO. It will include a question-and-answer session. Participants can register for the call online, and a replay will be available for seven days starting at 1:00 p.m. Central Time on July 25, 2024. The financial results release and webcast link will be available on the company's website at www.rell.com.
Richardson Electronics (NASDAQ: RELL) will showcase its latest RF and microwave technology partners at the 2024 IEEE MTT-S International Microwave Symposium in Washington, DC, from June 16-21, 2024. The company aims to present disruptive technologies applicable to various industries. This event is seen as an opportunity for Richardson Electronics to engage with customers and partners, highlighting their engineered solutions. The symposium is the largest global gathering for microwave professionals, featuring the RFIC Symposium and ARFTG. Richardson Electronics is known for providing innovative RF and microwave solutions and exceptional global support.
RICHARDSON ELECTRONICS, (NASDAQ: RELL) announced a partnership with Suzlon Energy to provide pitch energy modules for wind turbines, showcasing their patented technology at upcoming events. Richardson Electronics leads in PEM design and manufacturing, aligning with Suzlon's expert wind turbine development. Suzlon, a global renewable energy provider, has 12,000+ turbines worldwide, including over 9,000 in India, boasting 20.5 GW of wind energy capacity.
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