Welcome to our dedicated page for Rf Industries news (Ticker: RFIL), a resource for investors and traders seeking the latest updates and insights on Rf Industries stock.
RF Industries Ltd. reports recurring developments tied to its business as a manufacturer and marketer of interconnect products and systems. The company designs RF connectors and adapters, RF passives, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures for wireless and wireline telecom, data communications, industrial and related commercial applications.
News about RFIL commonly centers on quarterly and annual results, order bookings, backlog, customer orders and product demand across its operating markets. Company updates also cover Cables Unlimited custom cabling activity, aerospace-related orders, small cell and thermal cooling solutions, and management commentary on cost structure, margins and market diversification.
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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