Rf Industries Stock Price, News & Analysis

RF Industries (NASDAQ:RFIL) reported record revenue and adjusted EBITDA for fiscal 2022, with net sales of $85.3 million, up 48% year-over-year. Fourth quarter net sales reached $23.0 million, an 8.9% increase from the previous year. Adjusted EBITDA rose 143% to $6.6 million. The company experienced a 31.0% gross profit margin, improved from 25.3%% in Q4 FY2021. Cash reserves were $4.5 million. Looking ahead, RF Industries expects fiscal 2023 revenues between $90 million and $94 million.

RF Industries (NASDAQ:RFIL) has announced that it will release its financial results for the fourth quarter and fiscal year ended October 31, 2022, on January 12, 2023. The company expects net sales for the full year to be at the high end of its guidance range, projected at $83 million to $85 million. A conference call will be held on the same day at 4:30 p.m. ET to discuss the results, accessible via phone and webcast. RF Industries specializes in manufacturing interconnect products for various markets.

PARTS iD, Inc. (NYSE American: ID) announced the appointment of James Doss as Chief Financial Officer, effective January 1, 2023, following Kailas Agrawal's retirement. Doss brings extensive financial experience, previously serving as CFO at Indyme Solutions and RF Industries, and aims to enhance liquidity and profitability for PARTS iD. The company focuses on digital commerce in the automotive aftermarket and is committed to delivering a superior shopping experience.

RF Industries (NASDAQ:RFIL) reported strong third-quarter results for fiscal 2022, with net sales rising 11% sequentially and 56% year over year to $23.8 million. Microlab contributed significantly, achieving $6.5 million in sales. The company maintained a backlog of $30.6 million and improved its gross profit margin to 30%. Consolidated net income was $771,000, or $0.08 per diluted share. For fiscal 2022, RF Industries anticipates net sales between $83 million and $85 million, indicating at least 45% growth.

Blackline Safety has appointed Jason W. Cohenour, former President and CEO of Sierra Wireless, to its Board of Directors. Cohenour brings over 30 years of leadership experience in IoT and mobile communications, having led Sierra Wireless in a successful turnaround that grew revenue by nearly 800% to over CAD $1 billion. His expertise is expected to significantly contribute to Blackline's growth as it continues to innovate in connected safety technology.

RF Industries announced the appointments of Kay L. Tidwell and Jason Cohenour to its Board of Directors, following the retirement of Marvin Fink, who served for over 20 years. Tidwell brings extensive legal experience, having served as General Counsel for Hudson Pacific Properties, while Cohenour has a strong track record in executive leadership and operations, notably increasing Sierra Wireless' revenue by nearly 800% during his tenure as CEO. The company aims to leverage these new board members' expertise to enhance corporate governance and drive growth, particularly in the 5G communications sector.

RF Industries (NASDAQ:RFIL) will announce its third quarter financial results for the fiscal year 2022 on September 14, 2022, after market close. A conference call and live webcast will occur at 4:30 p.m. ET on the same day to discuss the outcomes. Investors can access the call by dialing 888-506-0062 (US/Canada) or 973-528-0011 (International) using access code 962049. More details can be found on their website.

RF Industries has secured $3.5 million in follow-on orders from a North American Tier 1 wireless carrier for its OptiFlex™ hybrid fiber solution, further solidifying its market position. The company's backlog stands at $31 million as of now, showcasing robust demand for its solutions amid increases in spending on 4G/5G deployments. The orders are set to start shipping in early fiscal year 2023, beginning November 1, 2022. RF Industries continues to expand its offerings in the telecommunications market.

RF Industries, Ltd. (NASDAQ: RFIL) reported a 94% increase in net sales for Q2 fiscal 2022, reaching $21.5 million. Excluding Microlab, net sales rose 64% to $18.1 million. The company’s backlog grew to $34 million, with bookings of $18.8 million. Gross profit margin improved to 28%. However, net income declined to $503,000, or $0.05 per diluted share, down from $4.8 million, or $0.48 per share year-over-year. RF Industries has raised its full-year revenue guidance to $80 million, up from $75 million.