Richardson Electrs Ltd Stock Price, News & Analysis

Richardson Electronics announces the hiring of three new field sales engineers across North America, France, and Malaysia. Dominik Norquist, with 20 years of experience, will focus on the Mountain States region; Emmanuel De Azevedo will manage French accounts; and Marina Getrie Parrot will operate from Malaysia. These additions aim to strengthen the company's demand creation model and support market growth initiatives. Richardson Electronics offers engineered solutions and is a leading manufacturer in several sectors, including healthcare and alternative energy, with over 60% of products manufactured in key locations worldwide.

Richardson Electronics (RELL) reported a stellar fiscal 2022, achieving 26.9% revenue growth to $224.6 million. The fourth quarter net sales reached $61.6 million, up 22.1% year-over-year, marking the eighth consecutive quarter of sequential revenue growth. Operating income surged to $5.0 million from $2.3 million in the prior year, and net income improved to $8.3 million. The quarterly cash dividend was declared at $0.06 per share. Despite rising costs, the company maintains a robust backlog of $206.2 million heading into fiscal 2023.

On July 20, 2022, Richardson Electronics, Ltd. (NASDAQ: RELL) will release its financial results for the fourth quarter and fiscal year ending May 28, 2022. A conference call is scheduled for July 21, 2022, at 9:00 a.m. CT, featuring Chairman and CEO Edward J. Richardson and CFO Robert J. Ben to discuss the results and answer questions.

Richardson Electronics manufactures engineered solutions, power grid, microwave tubes, and components, with over 60% of products made in the U.S. and Germany.

Richardson Electronics (NASDAQ: RELL) has entered into a global sales distribution agreement with Altum RF, enhancing its RF and microwave product offerings. This partnership focuses on high-performance RF to millimeter-wave semiconductor solutions, supporting applications in 5G/6G, SATCOM, and defense sectors. Altum RF aims to leverage Richardson's 75 years of experience for better design-in support and logistics, while Richardson continues to provide comprehensive solutions globally. This collaboration marks a significant step in expanding both companies' market reach.

Richardson Electronics has announced the availability of its ALTA750® CT Tube in Canada after receiving MDSAP certification and a Canadian Device License. This certification streamlines regulatory audits for medical device manufacturers, ensuring compliance with multiple jurisdictions. The company demonstrated its commitment to quality through rigorous audits of its processes. This achievement allows Richardson to cater to the Canadian healthcare market, affirming its 75-year legacy of quality in medical products.

Richardson Electronics, Ltd. (NASDAQ: RELL) will participate in the International Microwave Symposium (IMS2022) in Denver, Colorado, from June 21-23, 2022. This premier event focuses on recent advancements in RF and microwave technologies, emphasizing areas like 5G and telecom applications. Celebrating its 75th anniversary, the company plans to showcase its technology partners and innovations at booth 3006. Richardson Electronics specializes in engineered solutions and components for various industries, with over 60% of products manufactured in the U.S. and Europe.

Canvys, a division of Richardson Electronics, has launched a new 18.5-inch Full HD monitor designed for both medical and industrial applications. This display features a resolution of 1920 x 1080 pixels and offers customization options for OEMs. Key specifications include a brightness of 500 cd/m², a typical contrast ratio of 1,000 to 1, and a 10-point touchscreen option. It complies with medical device certifications and is designed to prevent dust and liquid intrusion. For more details, visit Canvys website.

Richardson Electronics, Ltd. (RELL) anticipates preliminary fourth quarter FY22 net sales between $60.5 million and $62.5 million, reflecting a 19.9%-23.8% year-over-year increase. For the full fiscal year, net sales are projected to be $222.0 million to $226.0 million, indicating 25.5%-27.7% growth. The company's backlog grew to $206.2 million from $175.6 million in the previous quarter and $110.0 million in the prior year. This marks the eighth consecutive quarter of sales growth, driven by strong demand and new product initiatives.

Richardson Electronics, Ltd. (NASDAQ: RELL) announced it will present at the LD Micro Invitational XII on June 8, 2022, at 2:30 P.M. PT / 5:30 P.M. ET. CEO Edward J. Richardson will lead the presentation, detailing the company's third quarter fiscal year 2022 performance and upcoming initiatives, including updates on its ULTRA3000 and ULTRAGEN3000 products. The conference runs from June 7-9, 2022, and features numerous presentations for investors.