Rf Industries Stock Price, News & Analysis

RF Industries has announced key leadership changes to aid in integrating the acquisition of Microlab/FXR LLC and to enhance its growth strategy. Ray Bibisi has moved to Chief Operating Officer, focusing on operational efficiencies and supply chain optimization. Christophe Massenet has been promoted to Vice President of Technology and Engineering, overseeing a new centralized technology office. These changes aim to bolster the company's innovative product development as it adapts to industry demands.

RF Industries, Ltd. (NASDAQ:RFIL) reported a robust 69% year-over-year increase in net sales for Q1 fiscal 2022, reaching $16.9 million. The company’s backlog stood at $27.9 million as of January 31, 2022. Despite a gross profit margin decrease to 24% from 26% due to supply chain issues, the operating loss improved to $362,000 from $589,000 year-over-year. The net loss narrowed to $277,000 ($0.03 per diluted share). Highlighting strong growth potential, RF Industries raised its full-year revenue guidance from over $63 million to over $75 million.

RF Industries, Ltd. (NASDAQ:RFIL) announced it will release its financial results for the first quarter ended January 31, 2022, on March 17, 2022, before market opening. A conference call will follow at 8:30 AM ET to discuss these results. Investors can join the call by calling 877-545-0523 (US) or 973-528-0016 (International) with access code 274196. A live and archived webcast will be available on the company's investor relations website. RF Industries is headquartered in San Diego and specializes in manufacturing interconnect products for various markets.

RF Industries has completed its acquisition of Microlab/FXR LLC, enhancing its portfolio in the RF and Microwave components sector. The acquisition, valued at an undisclosed amount, is anticipated to significantly boost revenue by leveraging Microlab's existing customer relationships and high-performance products, which generated approximately $16 million in revenue and $3.7 million in EBITDA for the year ending September 30, 2021. The combined entity aims to capitalize on growth opportunities in the small cell and DAS markets, promising immediate financial benefits and operational synergies.

RF Industries (NASDAQ:RFIL) announced the lease of an 86,952 square foot facility in San Diego, which will serve as its new corporate headquarters. The move aims to consolidate its RF Connector and Cable Assembly divisions, supporting growth and operational efficiency. The facility is set to enhance production capabilities and foster a collaborative company culture, with over 150 employees expected to work there. The expected move-in date is at the end of 2022, pending renovations.

RF Industries, Ltd. (NASDAQ:RFIL) reported significant fourth quarter and fiscal year financial results for 2021. Net sales surged by 38% sequentially and 97% year-over-year to $21.1 million. The company's backlog at year-end stood at $33.3 million. Gross profit margin was 25.3%, a slight decrease from the previous quarter. The net income for the quarter was $813,000, or $0.08 per diluted share. For fiscal 2021, sales rose 33% year-over-year to $57.4 million, with a net income of $6.2 million, reflecting the impact of the Employee Retention Tax Credits.

RF Industries has announced a definitive agreement to acquire Microlab LLC, a radio frequency components business, for approximately $24.25 million. This acquisition is expected to enhance RF Industries' financials and operating synergies, with Microlab generating about $16 million in revenue and $3.7 million in adjusted EBITDA for the twelve months leading up to September 30, 2021. The transaction, awaiting approval from Wireless Telecom Group shareholders, is anticipated to close in the first quarter of 2022.

RF Industries (NASDAQ:RFIL) will release its financial results for Q4 and fiscal year ending October 31, 2021 on December 22, 2021, before market open. A conference call is scheduled for the same day at 8:30 AM ET to discuss the earnings. Interested parties can join by calling 888-506-0062 for US/Canada or 973-528-0011 for international access. Webcast details will be available on their investor relations website, and a phone replay will be offered post-call for two weeks.

RF Industries announced a follow-on order exceeding $10 million from a tier-1 wireless carrier for its OptiFlex hybrid fiber solution. This order contributes to a total backlog of $34.5 million as of October 12, 2021. The company has previously secured multiple large orders from the same customer this fiscal year. RF Industries emphasizes the increasing demand for its products as carriers accelerate network upgrades, aiming to enhance speed and coverage.