Richardson Electronics Reports Strong Fourth Quarter and Fiscal 2026 Results; Declares Quarterly Cash Dividend
Rhea-AI Summary
Richardson Electronics (NASDAQ: RELL) reported fourth quarter fiscal 2026 net sales of $66.2 million, up 27.6% year over year, with growth across PMT, GES and Canvys. GAAP net income rose to $3.7 million (diluted EPS $0.25), and non-GAAP net income was $3.0 million (non-GAAP diluted EPS $0.21).
Backlog reached $164.4 million, up 8.7% sequentially. For fiscal 2026, net sales increased 9.4% to $228.6 million, with GAAP net income of $6.4 million and non-GAAP net income of $5.7 million. EBITDA was $11.3 million (adjusted EBITDA $10.4 million). The company ended the year with $31.8 million in cash and no debt. The Board declared a quarterly cash dividend of $0.06 per common share and $0.054 per Class B share, payable August 26, 2026 to shareholders of record on August 7, 2026.
Positive
- Q4 net sales $66.2M, up 27.6% YoY
- Fiscal 2026 net sales $228.6M, up 9.4% YoY
- Q4 GAAP net income $3.7M vs. $1.1M prior year
- Fiscal 2026 GAAP net income $6.4M vs. $1.1M loss FY25
- Backlog $164.4M, up 8.7% sequentially
- Cash balance $31.8M with no revolving credit debt
Negative
- Q4 gross margin 31.2% vs. 31.6% prior-year Q4
- Q4 operating expenses $17.6M vs. $15.6M prior-year Q4
- Fiscal 2026 operating expenses $65.7M vs. $62.2M FY25
Market Reaction – RELL
Following this news, RELL has gained 17.71%, reflecting a significant positive market reaction. Argus tracked a peak move of +19.5% during the session. Our momentum scanner has triggered 33 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $21.20. This price movement has added approximately $39M to the company's valuation.
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Fourth quarter net sales increased
Fourth quarter GAAP net income increased
Fiscal 2026 net sales increased
Backlog reached
LAFOX, Ill., July 22, 2026 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL) today reported financial results for its fourth quarter and fiscal year ended May 30, 2026. The Company also announced that its Board of Directors declared a
“I am pleased to report that Richardson Electronics delivered its eighth consecutive quarter of year-over-year sales growth, and the highest quarterly net sales since the third quarter of fiscal 2023. Fourth-quarter performance reflected strong demand in Power and Microwave Technologies, particularly for engineered solutions serving the semiconductor wafer fabrication equipment market, as well as distributed RF and microwave products. We also continued to see growth in Green Energy Solutions and Canvys had a record quarter. For the full fiscal year, our team executed well, delivering sales growth, improved gross margin, and stronger operating performance,” said Edward J. Richardson, Chairman, Chief Executive Officer, and President.
“Our backlog ended the year at its highest level in three years, reflecting continued customer activity across several of our key markets. We are encouraged by the opportunities we see in power management, semiconductor manufacturing, defense, energy storage, and customized display solutions. While the broader economic environment remains fluid, our strong balance sheet, technical capabilities, and focus on higher-value engineered solutions position us well to build on the progress achieved in fiscal 2026 and create sustainable long-term value for our shareholders,” Mr. Richardson concluded.
Fourth Quarter Results
Net sales for the fourth quarter of fiscal 2026 were
PMT sales increased
Backlog grew
Gross margin for the fourth quarter was
Operating expenses were
Gain on disposal of assets of
Operating income was
Income tax provision was
Net income was
EBITDA* was
EBITDA* for the fourth quarter of fiscal 2025 was
The Company maintained its solid financial position with cash and cash equivalents of
As of the end of the fourth quarter of fiscal 2026, the Company had no outstanding debt on its revolving line of credit with PNC Bank.
Fiscal Year Ended May 30, 2026
Net sales for fiscal 2026 were
Gross profit increased to
Operating expenses increased to
Operating income was
The income tax provision was
Net income was
EBITDA* for fiscal 2026 was
* Please refer to Unaudited Reconciliation between GAAP and non-GAAP Financial Measures below for a reconciliation of non-GAAP items to the comparable GAAP measures.
CASH DIVIDEND DECLARED
The Board of Directors of Richardson Electronics declared a
NON-GAAP FINANCIAL MEASURES
In addition to financial measures (“GAAP financial measures”) prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), we have included financial measures in this press release that are not defined by or calculated in accordance with GAAP (collectively, “non-GAAP financial measures”). For each of the non-GAAP financial measures referenced in this release, we are providing below a reconciliation of differences between the non-GAAP financial measure and the most directly comparable GAAP financial measure. We also provide an explanation of why the Company believes these non-GAAP financial measures provide useful information to investors, and any additional material purposes for which our management or Board of Directors use these non-GAAP financial measures.
Non-GAAP Operating Income (Loss): Non-GAAP operating income (loss) is GAAP operating income (loss), adjusted to exclude the gain/loss on the sale of assets of the Company’s Healthcare business recorded in fiscal 2025 and fiscal 2026 and the settlement of an unclaimed state property audit in fiscal 2026. The following table represents the Company’s calculation of non-GAAP operating income (loss) for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited | |||||||||||||||
| ($ in thousands) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Operating income (loss) reconciliation | |||||||||||||||
| Income (loss) from operations | $ | 3,867 | $ | 631 | $ | 6,464 | $ | (2,463 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (847 | ) | 158 | (847 | ) | 5,074 | |||||||||
| Settlement of an unclaimed state property audit | 436 | — | 436 | — | |||||||||||
| Non-GAAP operating income | $ | 3,456 | $ | 789 | $ | 6,053 | $ | 2,611 | |||||||
Non-GAAP Income (Loss) Before Taxes: Non-GAAP Income (Loss) Before Taxes is income (loss) before taxes, adjusted to exclude the gain/loss on the sale of assets of the Company’s Healthcare business recorded in fiscal 2025 and fiscal 2026 and the settlement of an unclaimed state property audit in fiscal 2026.The following table represents the Company’s calculation of non-GAAP Income (Loss) Before Taxes for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited | |||||||||||||||
| ($ in thousands) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Income (loss) before income taxes reconciliation | |||||||||||||||
| Income (loss) before income tax | $ | 4,149 | $ | 1,964 | $ | 7,478 | $ | (1,531 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (847 | ) | 158 | (847 | ) | 5,074 | |||||||||
| Settlement of an unclaimed state property audit | 436 | — | 436 | — | |||||||||||
| Non-GAAP income before tax | $ | 3,738 | $ | 2,122 | $ | 7,067 | $ | 3,543 | |||||||
NON-GAAP FINANCIAL MEASURES (continued)
Non-GAAP Income Tax Expense or Benefit: Non-GAAP Income Tax Expense or Benefit is income tax provision (benefit), adjusted to exclude the gain/loss on the sale of assets of the Company’s Healthcare business recorded in fiscal 2025 and fiscal 2026, the settlement of an unclaimed state property audit in fiscal 2026 and valuation allowance adjustments in fiscal 2025 and fiscal 2026. The following table represents the Company’s calculation of non-GAAP Income Tax Expense (Benefit) for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited | |||||||||||||||
| ($ in thousands) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Income tax provision (benefit) reconciliation | |||||||||||||||
| Income tax provision (benefit) | $ | 447 | $ | 889 | $ | 1,095 | $ | (388 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (225 | ) | 41 | (225 | ) | 1,319 | |||||||||
| Settlement of an unclaimed state property audit | 78 | — | 78 | — | |||||||||||
| Valuation allowance adjustment | 426 | (617 | ) | 426 | (617 | ) | |||||||||
| Non-GAAP income tax provision | $ | 726 | $ | 313 | $ | 1,374 | $ | 314 | |||||||
Non-GAAP Net Income (Loss): Non-GAAP Net Income (Loss) is net income (loss), adjusted to exclude the gain/loss on the sale of assets of the Company’s Healthcare business recorded in fiscal 2025 and fiscal 2026, the settlement of an unclaimed state property audit in fiscal 2026, and valuation allowance adjustments in fiscal 2025 and fiscal 2026. The following table represents the Company’s calculation of non-GAAP Net Income (Loss) for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited | |||||||||||||||
| ($ in thousands) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Net income (loss) reconciliation | |||||||||||||||
| Net income (loss) | $ | 3,702 | $ | 1,075 | $ | 6,383 | $ | (1,143 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (622 | ) | 117 | (622 | ) | 3,755 | |||||||||
| Settlement of an unclaimed state property audit | 358 | — | 358 | — | |||||||||||
| Valuation allowance adjustment | (426 | ) | 617 | (426 | ) | 617 | |||||||||
| Non-GAAP net income | $ | 3,012 | $ | 1,809 | $ | 5,693 | $ | 3,229 | |||||||
NON-GAAP FINANCIAL MEASURES (continued)
Non-GAAP Earnings (Loss) Per Common Share (Diluted): Non-GAAP Earnings (Loss) Per Common Share (Diluted) is net income (loss) per share (diluted), adjusted to exclude the gain/loss on the sale of assets of the Company’s Healthcare business recorded in fiscal 2025 and fiscal 2026, the settlement of an unclaimed state property audit in fiscal 2026, and valuation allowance adjustments in fiscal 2025 and fiscal 2026. The following table represents the Company’s calculation of non-GAAP Earnings (Loss) Per Common Share (diluted) for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Net income (loss) per diluted share reconciliation | |||||||||||||||
| Net income (loss) per diluted share | $ | 0.25 | $ | 0.08 | $ | 0.44 | $ | (0.08 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (0.04 | ) | — | (0.04 | ) | 0.26 | |||||||||
| Settlement of an unclaimed state property audit | 0.03 | — | 0.03 | — | |||||||||||
| Valuation allowance reversal | (0.03 | ) | 0.04 | (0.03 | ) | 0.04 | |||||||||
| Non-GAAP income per diluted share | $ | 0.21 | $ | 0.12 | $ | 0.40 | $ | 0.22 | |||||||
EBITDA: EBITDA is net income (loss), plus income tax expense (benefit) and depreciation and amortization expense. The following table represents the Company’s calculation of EBITDA for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited | |||||||||||||||
| ($ in thousands) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Net income (loss) | $ | 3,702 | $ | 1,075 | $ | 6,383 | $ | (1,143 | ) | ||||||
| Income tax provision (benefit) | 447 | 889 | 1,095 | (388 | ) | ||||||||||
| Depreciation & amortization | 892 | 965 | 3,789 | 4,002 | |||||||||||
| EBITDA | $ | 5,041 | $ | 2,929 | $ | 11,267 | $ | 2,471 | |||||||
Adjusted EBITDA: Adjusted EBITDA is EBITDA (a non-GAAP financial measure defined and calculated in accordance with the above), adjusted to exclude the gain/loss on the sale of assets of the Company’s Healthcare business recorded in fiscal 2025 and fiscal 2026 and the settlement of an unclaimed state property audit in fiscal 2026. The following table represents the Company’s calculation of Adjusted EBITDA for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited | |||||||||||||||
| ($ in thousands) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Net income (loss) | $ | 3,702 | $ | 1,075 | $ | 6,383 | $ | (1,143 | ) | ||||||
| Income tax provision (benefit) | 447 | 889 | 1,095 | (388 | ) | ||||||||||
| Depreciation & amortization | 892 | 965 | 3,789 | 4,002 | |||||||||||
| EBITDA | 5,041 | 2,929 | 11,267 | 2,471 | |||||||||||
| Disposal of healthcare assets | (847 | ) | 158 | (847 | ) | 5,074 | |||||||||
| Settlement of an unclaimed state property audit | 436 | — | 436 | — | |||||||||||
| Adjusted EBITDA | $ | 4,194 | $ | 3,087 | $ | 10,420 | $ | 7,545 | |||||||
Management believes the non-GAAP financial measures referenced herein provide useful information to investors in assessing the Company’s financial performance because items that are not considered by the Company to be indicative of the Company’s ongoing results, such as the one-time gain/loss on the sale of assets of the Company’s Healthcare business, are excluded.
Our management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating our financial performance and when planning, forecasting and analyzing future periods.
The non-GAAP financial measures presented herein, as determined and presented by the Company, may not be comparable to related or similarly titled measures reported by other companies. These non-GAAP financial measures are not intended to be used as a substitute for the related GAAP financial measures. The non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP.
CONFERENCE CALL INFORMATION
The Company will host a conference call and question-and-answer session on Thursday, July 23, 2026, at 9:00 a.m. Central Time, to discuss its fourth quarter and fiscal 2026 results.
Participants may register for the call here. While not required, it is recommended you join 10 minutes prior to the event start. A replay of the call will be available beginning at 1:00 p.m. Central Time on July 23, 2026, for seven days. Registration instructions are also on our website at www.rell.com.
In addition, the webcast link is available here.
FORWARD-LOOKING STATEMENTS
This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on August 4, 2025, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.
ABOUT RICHARDSON ELECTRONICS, LTD.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; tubes for diagnostic imaging equipment; and customized display solutions.
More than
Richardson Electronics’ common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL
| Richardson Electronics, Ltd. Unaudited Consolidated Balance Sheets (in thousands, except per share amounts) | |||||||
| May 30, 2026 | May 31, 2025 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 31,779 | $ | 35,901 | |||
| Accounts receivable, less allowance for credit losses of | 33,162 | 24,117 | |||||
| Inventories, net | 103,020 | 102,799 | |||||
| Prepaid expenses and other assets | 4,770 | 3,070 | |||||
| Total current assets | 172,731 | 165,887 | |||||
| Non-current assets: | |||||||
| Property, plant and equipment, net | 19,003 | 18,355 | |||||
| Intangible assets, net | 285 | 345 | |||||
| Right of use lease assets, net | 1,389 | 2,276 | |||||
| Deferred income tax assets | 8,346 | 8,744 | |||||
| Other non-current assets | 263 | 228 | |||||
| Total non-current assets | 29,286 | 29,948 | |||||
| Total assets | $ | 202,017 | $ | 195,835 | |||
| Liabilities and Stockholders’ Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 19,593 | $ | 21,339 | |||
| Accrued liabilities | 15,989 | 14,276 | |||||
| Lease liabilities current | 787 | 1,171 | |||||
| Total current liabilities | 36,369 | 36,786 | |||||
| Non-current liabilities: | |||||||
| Deferred income tax liabilities | 177 | 81 | |||||
| Lease liabilities non-current | 602 | 1,105 | |||||
| Other non-current liabilities | 1,168 | 1,204 | |||||
| Total non-current liabilities | 1,947 | 2,390 | |||||
| Total liabilities | 38,316 | 39,176 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ Equity | |||||||
| Common stock, | 629 | 618 | |||||
| Class B common stock, convertible, | 102 | 102 | |||||
| Additional paid-in-capital | 76,950 | 74,445 | |||||
| Retained earnings | 82,284 | 79,340 | |||||
| Accumulated other comprehensive income | 3,736 | 2,154 | |||||
| Total stockholders’ equity | 163,701 | 156,659 | |||||
| Total liabilities and stockholders’ equity | $ | 202,017 | $ | 195,835 | |||
| Richardson Electronics, Ltd. Unaudited Consolidated Statements of Comprehensive Income (Loss) (in thousands, except per share amounts) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Net sales | $ | 66,197 | $ | 51,889 | $ | 228,564 | $ | 208,909 | |||||||
| Cost of sales | 45,536 | 35,514 | 157,217 | $ | 144,109 | ||||||||||
| Gross profit | 20,661 | 16,375 | 71,347 | 64,800 | |||||||||||
| Selling, general and administrative expenses | 17,638 | 15,566 | 65,717 | 62,173 | |||||||||||
| Loss on disposal of property, plant and equipment | 3 | 20 | 13 | 16 | |||||||||||
| (Gain) loss on disposal of healthcare assets and related charges | (847 | ) | 158 | (847 | ) | 5,074 | |||||||||
| Operating income (loss) | 3,867 | 631 | 6,464 | (2,463 | ) | ||||||||||
| Other (income) expense: | |||||||||||||||
| Interest income | (108 | ) | (205 | ) | (544 | ) | (392 | ) | |||||||
| Foreign exchange | (175 | ) | (1,112 | ) | 452 | (496 | ) | ||||||||
| Other, net | 1 | (16 | ) | (922 | ) | (44 | ) | ||||||||
| Total other (income) expense | (282 | ) | (1,333 | ) | (1,014 | ) | (932 | ) | |||||||
| Income (loss) before income taxes | 4,149 | 1,964 | 7,478 | (1,531 | ) | ||||||||||
| Income tax provision (benefit) | 447 | 889 | 1,095 | (388 | ) | ||||||||||
| Net income (loss) | 3,702 | 1,075 | 6,383 | (1,143 | ) | ||||||||||
| Foreign currency translation gain, net of tax | (153 | ) | 3,204 | 1,582 | 1,390 | ||||||||||
| Comprehensive income | $ | 3,549 | $ | 4,279 | $ | 7,965 | $ | 247 | |||||||
| Net income (loss) per share: | |||||||||||||||
| Common stock - Basic | $ | 0.26 | $ | 0.08 | $ | 0.45 | $ | (0.08 | ) | ||||||
| Class B common stock - Basic | 0.23 | 0.07 | 0.40 | (0.07 | ) | ||||||||||
| Common stock - Diluted | 0.25 | 0.08 | 0.44 | (0.08 | ) | ||||||||||
| Class B common stock - Diluted | 0.23 | 0.07 | 0.40 | (0.07 | ) | ||||||||||
| Weighted average number of shares: | |||||||||||||||
| Common stock - Basic | 12,535 | 12,341 | 12,492 | 12,298 | |||||||||||
| Class B common stock - Basic | 2,037 | 2,049 | 2,042 | 2,049 | |||||||||||
| Common stock - Diluted | 12,787 | 12,515 | 12,690 | 12,298 | |||||||||||
| Class B common stock - Diluted | 2,037 | 2,049 | 2,042 | 2,049 | |||||||||||
| Richardson Electronics, Ltd. Unaudited Consolidated Statements of Cash Flows (in thousands) | |||||||
| Fiscal Year Ended | |||||||
| May 30, 2026 | May 31, 2025 | ||||||
| Operating activities: | |||||||
| Net income (loss) | $ | 6,383 | $ | (1,143 | ) | ||
| Adjustments to reconcile net income to cash provided by operating activities: | |||||||
| Unrealized foreign currency gain | (24 | ) | (1,002 | ) | |||
| Depreciation and amortization | 3,789 | 4,002 | |||||
| Inventory provisions | 499 | 550 | |||||
| Share-based compensation expense | 1,621 | 1,545 | |||||
| Loss on disposal of property, plant and equipment | 10 | 16 | |||||
| Deferred income taxes | 1,060 | (3,257 | ) | ||||
| (Gain) loss on disposal of healthcare assets and related charges | (847 | ) | 5,074 | ||||
| Change in assets and liabilities: | — | — | |||||
| Accounts receivable | (8,909 | ) | 130 | ||||
| Inventories | 742 | 206 | |||||
| Prepaid expenses and other assets | (2,265 | ) | (180 | ) | |||
| Accounts payable | (1,870 | ) | 5,525 | ||||
| Accrued liabilities | 1,127 | (1,240 | ) | ||||
| Other | (554 | ) | 326 | ||||
| Net cash provided by operating activities | 762 | 10,552 | |||||
| Investing activities: | |||||||
| Capital expenditures | (4,383 | ) | (2,811 | ) | |||
| Proceeds from the sale of property, plant and equipment | — | 7 | |||||
| Proceeds from disposal of healthcare assets | 1,300 | 6,827 | |||||
| Net cash (used in) provided by investing activities | (3,083 | ) | 4,023 | ||||
| Financing activities: | |||||||
| Proceeds from issuance of common stock | 993 | 320 | |||||
| Cash dividends paid on common and Class B common stock | (3,439 | ) | (3,407 | ) | |||
| Proceeds from revolving credit facility | — | 1,000 | |||||
| Repayment of revolving credit facility | — | (1,000 | ) | ||||
| Other | (98 | ) | (159 | ) | |||
| Net cash used in financing activities | (2,544 | ) | (3,246 | ) | |||
| Effect of exchange rate changes on cash and cash equivalents | 743 | 309 | |||||
| (Decrease) increase in cash and cash equivalents | (4,122 | ) | 11,638 | ||||
| Cash and cash equivalents at beginning of period | 35,901 | 24,263 | |||||
| Cash and cash equivalents at end of period | $ | 31,779 | $ | 35,901 | |||
| Richardson Electronics, Ltd. Unaudited Net Sales and Gross Profit For the Fourth Quarter and Fiscal 2026 and 2025 ($ in thousands) | |||||||||||||||
| By Strategic Business Unit: | |||||||||||||||
| Net Sales | |||||||||||||||
| Three Months Ended | FY26 vs. FY25 | ||||||||||||||
| May 30, 2026 | May 31, 2025 | % Change | |||||||||||||
| PMT | $ | 47,487 | $ | 37,068 | 28.1 | % | |||||||||
| GES | 6,455 | 5,360 | 20.4 | % | |||||||||||
| Canvys | 12,255 | 9,461 | 29.5 | % | |||||||||||
| Total | $ | 66,197 | $ | 51,889 | 27.6 | % | |||||||||
| Twelve Months Ended | FY26 vs. FY25 | ||||||||||||||
| May 30, 2026 | May 31, 2025 | % Change | |||||||||||||
| PMT | $ | 160,490 | $ | 147,045 | 9.1 | % | |||||||||
| GES | 30,814 | 28,719 | 7.3 | % | |||||||||||
| Canvys | 37,260 | 33,145 | 12.4 | % | |||||||||||
| Total | $ | 228,564 | $ | 208,909 | 9.4 | % | |||||||||
| Gross Profit | |||||||||||||||
| Three Months Ended | |||||||||||||||
| May 30, 2026 | % of Net Sales | May 31, 2025 | % of Net Sales | ||||||||||||
| PMT | $ | 14,756 | 31.1 | % | $ | 11,641 | 31.4 | % | |||||||
| GES | 1,952 | 30.2 | % | 1,693 | 31.6 | % | |||||||||
| Canvys | 3,953 | 32.3 | % | 3,041 | 32.1 | % | |||||||||
| Total | $ | 20,661 | 31.2 | % | $ | 16,375 | 31.6 | % | |||||||
| Twelve Months Ended | |||||||||||||||
| May 30, 2026 | % of Net Sales | May 31, 2025 | % of Net Sales | ||||||||||||
| PMT | $ | 50,092 | 31.2 | % | $ | 44,881 | 30.5 | % | |||||||
| GES | 9,327 | 30.3 | % | 9,030 | 31.4 | % | |||||||||
| Canvys | 11,928 | 32.0 | % | 10,889 | 32.9 | % | |||||||||
| Total | $ | 71,347 | 31.2 | % | $ | 64,800 | 31.0 | % | |||||||
| Richardson Electronics, Ltd. Unaudited Reconciliation Between GAAP and Non-GAAP Financial Measures For the Fourth Quarter and Fiscal 2026 and 2025 ($ in thousands except per share amounts) | |||||||||||||||
| NON-GAAP INCOME (LOSS) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Operating income (loss) reconciliation | |||||||||||||||
| Income (loss) from operations | $ | 3,867 | $ | 631 | $ | 6,464 | $ | (2,463 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (847 | ) | 158 | (847 | ) | 5,074 | |||||||||
| Settlement of an unclaimed state property audit | 436 | — | 436 | — | |||||||||||
| Non-GAAP operating income | $ | 3,456 | $ | 789 | $ | 6,053 | $ | 2,611 | |||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Income (loss) before income taxes reconciliation | |||||||||||||||
| Income (loss) before income tax | $ | 4,149 | $ | 1,964 | $ | 7,478 | $ | (1,531 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (847 | ) | 158 | (847 | ) | 5,074 | |||||||||
| Settlement of an unclaimed state property audit | 436 | — | 436 | — | |||||||||||
| Non-GAAP income before tax | $ | 3,738 | $ | 2,122 | $ | 7,067 | $ | 3,543 | |||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Income tax provision (benefit) reconciliation | |||||||||||||||
| Income tax provision (benefit) | $ | 447 | $ | 889 | $ | 1,095 | $ | (388 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (225 | ) | 41 | (225 | ) | 1,319 | |||||||||
| Settlement of an unclaimed state property audit | 78 | — | 78 | — | |||||||||||
| Valuation allowance adjustment | 426 | (617 | ) | 426 | (617 | ) | |||||||||
| Non-GAAP income tax provision | $ | 726 | $ | 313 | $ | 1,374 | $ | 314 | |||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Net income (loss) reconciliation | |||||||||||||||
| Net income (loss) | $ | 3,702 | $ | 1,075 | $ | 6,383 | $ | (1,143 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (622 | ) | 117 | (622 | ) | 3,755 | |||||||||
| Settlement of an unclaimed state property audit | 358 | — | 358 | — | |||||||||||
| Valuation allowance adjustment | (426 | ) | 617 | (426 | ) | 617 | |||||||||
| Non-GAAP net income | $ | 3,012 | $ | 1,809 | $ | 5,693 | $ | 3,229 | |||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Net income (loss) per diluted share reconciliation | |||||||||||||||
| Net income (loss) per diluted share | $ | 0.25 | $ | 0.08 | $ | 0.44 | $ | (0.08 | ) | ||||||
| (Gain) loss on disposal of healthcare assets and related charges | (0.04 | ) | — | (0.04 | ) | 0.26 | |||||||||
| Settlement of an unclaimed state property audit | 0.03 | — | 0.03 | — | |||||||||||
| Valuation allowance reversal | (0.03 | ) | 0.04 | (0.03 | ) | 0.04 | |||||||||
| Non-GAAP income per diluted share | $ | 0.21 | $ | 0.12 | $ | 0.40 | $ | 0.22 | |||||||
| Richardson Electronics, Ltd. Unaudited Reconciliation Between GAAP and Non-GAAP Financial Measures For the Fourth Quarter and Fiscal 2026 and 2025 ($ in thousands except per share amounts) | |||||||||||||||
| EBITDA | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| May 30, 2026 | May 31, 2025 | May 30, 2026 | May 31, 2025 | ||||||||||||
| Net income (loss) | $ | 3,702 | $ | 1,075 | $ | 6,383 | $ | (1,143 | ) | ||||||
| Income tax provision (benefit) | 447 | 889 | 1,095 | (388 | ) | ||||||||||
| Depreciation & amortization | 892 | 965 | 3,789 | 4,002 | |||||||||||
| EBITDA | 5,041 | 2,929 | 11,267 | 2,471 | |||||||||||
| Disposal of healthcare assets | (847 | ) | 158 | (847 | ) | 5,074 | |||||||||
| Settlement of an unclaimed state property audit | 436 | — | 436 | — | |||||||||||
| Adjusted EBITDA | $ | 4,194 | $ | 3,087 | $ | 10,420 | $ | 7,545 | |||||||
| For Details Contact: | 40W267 Keslinger Road | |
| Edward J. Richardson | Robert J. Ben | PO BOX 393 |
| Chairman and CEO | EVP & CFO | LaFox, IL 60147-0393 USA |
| Phone: (630) 208-2320 | (630) 208-2203 | (630) 208-2200 | Fax: (630) 208-2550 |
