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, 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.
RF Industries, Ltd. (NASDAQ: RFIL) will release its second quarter financial results for the period ending April 30, 2020, on June 11, 2020, after market close. A conference call will follow at 1:30 p.m. PDT (4:30 p.m. EDT) to discuss these results, accessible via phone or an archived webcast on their investor relations website. RF Industries specializes in manufacturing interconnect products for diverse markets, including telecom and data communications, with operations across several U.S. locations.