Rf Industries Stock Price, News & Analysis

RF Industries, Ltd. (NASDAQ:RFIL) has announced the promotion of Peter Yin to Chief Financial Officer, effective immediately. Yin, who has served as the interim CFO since July 2020, joined the company in 2014 and has played a vital role in managing finances during challenging times. Robert Dawson, CEO, expressed confidence in Yin's leadership for driving long-term growth. RF Industries designs and manufactures interconnect products for various markets, including wireless and data communications. The company's headquarters is located in San Diego, California.

RF Industries has appointed Mark K. Holdsworth to its board of directors following the retirement of Howard Hill. Holdsworth, a founder of The Holdsworth Group, brings extensive experience in investing, mergers, and acquisitions. His background includes managing nearly $9 billion at Tennenbaum Capital Partners. President Robert Dawson expressed optimism about Holdsworth's contributions to the company's growth strategy, particularly in M&A activities. Holdsworth is also a substantial shareholder, eager to unleash RF Industries' potential.

RF Industries announces the retirement of co-founder Howard F. Hill from its board, effective December 22, 2020, after 41 years of service. Hill, 80, co-founded the company in 1979 and served as CEO until 2015. His leadership played a pivotal role in establishing the company’s foundation for success. Robert Dawson, current President and CEO, expressed gratitude for Hill’s dedication and contributions. RF Industries designs and manufactures interconnect products across various markets, including telecom and data communications, with headquarters in San Diego, California.

RF Industries, Ltd. (NASDAQ:RFIL) reported its Q4 and fiscal year 2020 results, revealing a 12% sequential increase in net sales to $10.7 million. The gross margin was recorded at 28%, while the company posted a net income of $159,000, or $0.02 per diluted share, recovering from a loss of $(82,000) in the prior quarter. Additionally, the non-GAAP net income stood at $356,000, with adjusted EBITDA up 13% to $329,000. Cash and cash equivalents totaled $15.8 million. CEO Robert Dawson expressed optimism for continued growth in fiscal 2021.

RF Industries, Ltd. (NASDAQ:RFIL) will release its financial results for the fourth quarter and fiscal year ending October 31, 2020 on December 17, 2020, after market close. A conference call and webcast will be held that same day at 1:30 PM PT (4:30 PM ET) to discuss these results. Investors can access the call by dialing specified numbers or via the company's investor relations website. RF Industries manufactures interconnect products across diverse markets including telecom and data communications.

RF Industries, Ltd. (NASDAQ:RFIL) announced its third quarter fiscal 2020 financial results, reporting net sales of $9.5 million, and an improved gross margin of 29%, up 400 basis points sequentially. The company faced a net loss of $(82,000), equivalent to $(0.01) per diluted share, while non-GAAP net income was $178,000 or $0.02 per diluted share. Despite challenges from the pandemic, RF Industries noted a recovery in revenue during June and July, and expects sequential growth in the upcoming quarter.

RF Industries, Ltd. (NASDAQ:RFIL) will release its third quarter financial results for the period ending July 31, 2020, on September 10, 2020, after market close. A conference call will follow at 1:30 p.m. PDT (4:30 p.m. EDT) to discuss the results. Interested participants can join the call by dialing 800-437-2398 (US) or 323-289-6576 (International), using conference ID 6455460. The call will also be accessible via a live and archived webcast on the company's investor relations website.

RF Industries, Ltd. (NASDAQ: RFIL) announces the resignation of CFO Mark Turfler effective July 10, 2020, after over six years in the role. Peter Yin, previously Senior VP of Finance & Operations, will serve as interim CFO starting July 11. The management change is seen positively as Yin has been a pivotal member of the leadership team since joining in 2014. Turfler's departure is not attributed to any financial disagreements, and a search for a permanent CFO is set to begin.

RF Industries reported its financial results for Q2 2020, with net sales of $10.4 million, a 23.7% decline from the previous year. The net loss was $(184,000) or $(0.02) per diluted share. Non-GAAP net loss stood at $(73,000). Adjusted EBITDA was $176,000 compared to $1.7 million a year prior. The company faced challenges due to the COVID-19 pandemic, impacting project-based sales. However, it maintains a strong balance sheet with $14 million in cash. The board has suspended dividends amid the uncertain economic environment.