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RF Industries Ltd (NASDAQ: RFIL) is a leading designer and manufacturer of innovative interconnect products and complex cable assemblies, catering to diversified, high-growth markets including wireless carriers, infrastructure, and industrial sectors. Headquartered in San Diego, California, with operations in New York, New Jersey, Connecticut, Rhode Island, Canada, Israel, and Mexico, the company is well-positioned to serve a global customer base.
RF Industries specializes in the development, manufacturing, and marketing of a wide array of interconnect products and systems. Their portfolio includes RF connectors, coaxial and custom cable assemblies, fiber optic cables, wiring harnesses, and RF passives such as dividers, directional couplers, and filters. These cutting-edge connectivity solutions are crucial for the expanding and evolving wireless infrastructure market.
The company operates through two main segments: RF Connector and Cable Assembly Division, and Custom Cabling Manufacturing and Assembly Division. The former focuses on standard and custom RF connector solutions, while the latter includes subsidiaries specializing in custom cable assemblies and specialty cabling solutions.
In recent times, RF Industries has showcased resilience in the face of market challenges. Despite a challenging fiscal 2023 due to a pause in wireless carrier capex spending, the company has successfully navigated through operational hurdles. Key initiatives such as consolidation and cost reduction activities have been implemented to streamline operations and enhance profitability. These efforts have already shown promising results, reflected in their improved financial metrics and increased backlog of orders.
Recent strategic advancements include the launch of the Microlab
RF Industries (NASDAQ:RFIL), a national manufacturer and marketer of interconnect products and systems, has announced the release of its third quarter fiscal year 2024 financial results on Monday, September 16, 2024, after market close. The company will host a conference call and live webcast on the same day at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time to discuss the results.
Investors can access the live call by dialing 888-506-0062 (US and Canada) or 973-528-0011 (International) with the participant access code 640662. A live and archived webcast will also be available on the investor relations section of the company's website at www.rfindustries.com.
RF Industries (NASDAQ: RFIL) has announced over $4 million in new orders from multiple customers in the North American wireless carrier ecosystem. These orders include OptiFlex™ hybrid fiber, small cell solutions, and a $2.7 million long-term project for DAC Thermal Cooling solutions. The company's backlog as of July 31, 2024, stands at approximately $20.7 million, a 15% increase from $18.0 million at the end of the fiscal second quarter. RFI expects third quarter fiscal sales to have increased sequentially compared to the second fiscal quarter.
CEO Robert Dawson highlighted the company's expanding value proposition in the wireless market and the cost-effectiveness of their technology-forward solutions. He emphasized the potential of their DAC thermal cooling systems, which can reduce electricity consumption by up to 75% compared to traditional HVAC systems.
RF Industries (NASDAQ: RFIL) reported its financial results for Q2 FY 2024, ending April 30, 2024. Net sales were $16.1M, up 19.2% from Q1 FY 2024 but down from $22.3M in the prior-year quarter. The backlog reached $18M, with bookings of $17.9M, and stands at $20M today. Gross profit margin improved to 29.9%, from 24.5% in Q1 FY 2024 and 27.4% year-over-year. Operating loss was $415K, better than the $2.1M loss in Q1 FY 2024 but down from $489K income year-over-year. Due to a non-cash tax valuation allowance, net loss was $4.3M, up from $1.4M loss in Q1 FY 2024 and down from $581K income year-over-year. Excluding this adjustment, non-GAAP net income was $132K. Adjusted EBITDA was $572K, up from a $1.1M loss in Q1 FY 2024 but down from $1.4M year-over-year. CEO Robert Dawson noted significant recovery and improvements despite the tax adjustment.
RF Industries (NASDAQ:RFIL), a national leader in interconnect products and systems, will announce its second quarter fiscal year 2024 financial results on June 13, 2024, following the market close.
The company will also host a conference call and live webcast on the same day at 4:30 PM ET to discuss the results.
To join the call, dial 888-506-0062 for the US and Canada, or 973-528-0011 for international participants, using access code 804483.
The webcast will be accessible live and archived on the company's investor relations website.
RF Industries (NASDAQ: RFIL) announced new large orders totaling approximately $4 million, including nearly $2 million for small cell solutions from a key customer in the Tier 1 wireless carrier ecosystem. These orders increased the company's backlog by 30%, reaching $21.1 million from $16.2 million at the end of the fiscal first quarter. For the fiscal second quarter ending April 30, 2024, net sales are expected to be $16.1 million, a 19% sequential increase.
The company expects improved gross margins due to increased sales, favorable product mix, and cost reduction efforts. CEO Robert Dawson highlighted the company's transformation towards offering advanced, high-value products and the momentum in key markets. Full second-quarter results will be released in June.
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