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, 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.