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 has secured a follow-on order worth over $11 million from a tier-1 wireless carrier for its OptiFlex™ hybrid fiber solution, contributing to a total backlog of $32.2 million. Previous orders from the same customer amounted to $6.5 million in March and $7.6 million in May. The company anticipates shipping will commence in early November 2021. This order underscores increased demand for RF Industries' products as wireless carriers ramp up their 5G network infrastructure.
RF Industries, Ltd (NASDAQ:RFIL) announced its second quarter fiscal 2021 results, reporting a 11% sequential increase in net sales to $11.1 million. The company’s backlog at April 30, 2021 was $15.6 million, with current backlog at a record $22.8 million. Gross profit margin was reported at 43%, boosted by $2.6 million in Employee Retention Tax Credits and $2.8 million in PPP loan forgiveness. Net income reached $4.8 million, or $0.48 per diluted share. Looking ahead, the company anticipates continued sales growth in the third quarter and a return to year-over-year revenue growth.
RF Industries (NASDAQ:RFIL) announced it will release its financial results for the second quarter ended April 30, 2021, on June 14, 2021, after market close. The company will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results. Interested parties can access the live call by dialing 877-407-8031 or 201-689-8031 for international callers. An archived version of the call will be available on the company's website along with a phone replay for two weeks post-call.
RF Industries has secured a $7.6 million follow-on order from a tier-1 wireless carrier customer, boosting its backlog to $23.8 million. This order, aimed at aiding the build-out of wireless tower sites, underscores the growing demand for RF Industries' OptiFlex™ hybrid fiber solution. The company anticipates commencing shipments in the second half of the current fiscal year, concluding on October 31, 2021. This significant win is expected to fuel future revenue growth as wireless carriers advance their 5G infrastructure deployments.
RF Industries (NASDAQ:RFIL) has established a Strategic Planning and Capital Allocation Committee aimed at enhancing M&A activities, cost-saving initiatives, and strategic actions for growth. The committee, chaired by Mark Holdsworth, includes board members Gerald Garland and CEO Robert Dawson. The initiative intends to create long-term value for shareholders by identifying actions to accelerate growth in diverse markets, including telecom and data communications. The formation responds to market dynamics and seeks to bolster the company's strategic direction.
RF Industries announced a significant $535,000 order for small cell installation kits from a large neutral host customer, aimed at supporting a tier-1 wireless carrier. This order builds on previous small cell shroud orders and positions the company well within the expanding small cell infrastructure market, driven by growing demand for enhanced network coverage and capacity. RF Industries emphasizes that these kits exemplify their capabilities across multiple product areas, indicating a strong collaboration in the ongoing 5G buildout.
RF Industries has announced a significant win with a $6.5 million follow-on order from a new tier-1 wireless carrier customer for its OptiFlex™ hybrid fiber solution. This order contributes to a backlog of over $15 million and is aimed at supporting the build-out of wireless tower sites. The company expects to commence shipping this order in the second half of its fiscal year ending October 31, 2021. The OptiFlex™ product line is crucial for the company's growth and supports the carrier ecosystem in deploying 5G infrastructure.
RF Industries (NASDAQ:RFIL) reported a net sales of $10.0 million for Q1 fiscal 2021, reflecting a 6.5% decrease from the previous quarter due to seasonal trends and delayed shipments. The company experienced a gross profit margin of 26%, a slight decrease of 0.2% year-over-year. A GAAP net loss per diluted share was recorded at ($0.04), contrasting with a net income of $0.02 in Q4 2020. However, backlog increased to $7.1 million, and distribution sales rose 15% compared to the previous year. RF Industries anticipates revenue growth as market conditions improve.
RF Industries, Ltd. (NASDAQ:RFIL), a manufacturer of interconnect products, will participate in the 33rd Annual Roth Conference from March 15-17, 2021. The company's President and CEO, Robert Dawson, alongside CFO Peter Yin, will engage in one-on-one meetings with investors on March 16. A pre-recorded investor presentation will be available on the company's website prior to the event. RF Industries specializes in various interconnect products used in telecommunications, data communications, and industrial sectors, with a focus on quality and innovation.
RF Industries, Ltd. (NASDAQ:RFIL) has scheduled a financial results announcement for the first quarter ending January 31, 2021, on March 11, 2021, post-market close. A conference call and live webcast will occur on the same day at 1:30 PM PT (4:30 PM ET) to discuss these results. Investors can access the call by dialing 877-407-8031 (U.S. and Canada) or 201-689-8031 (International). The company offers a diverse range of interconnect products, including RF connectors and coaxial cables, serving various markets.