In This Story
Richardson Electronics Ltd. (RELL-2.10%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing reports net sales of $49.5 million for the second quarter of fiscal 2025, a 12.1% increase compared to $44.1 million in the same quarter of fiscal 2024. The increase is attributed to higher sales in the Power and Microwave Technologies and Green Energy Solutions segments.
Gross profit for the quarter was $15.3 million, with a gross margin of 31.0%, up from 28.4% in the prior year. This improvement is primarily due to favorable product mix and improved manufacturing absorption.
Selling, general, and administrative expenses were $16.0 million, representing 32.3% of net sales, compared to 32.8% in the same quarter of the previous year.
The company reported an operating loss of $0.7 million for the quarter, compared to an operating loss of $2.0 million in the previous year.
Net loss for the quarter was $0.8 million, or $0.05 per diluted share, compared to a net loss of $1.8 million, or $0.13 per diluted share, in the prior year.
Cash provided by operating activities was $5.9 million for the first six months of fiscal 2025, with cash and cash equivalents totaling $26.6 million as of November 30, 2024.
The filing also details the company's segments, with Power and Microwave Technologies and Green Energy Solutions showing significant sales growth, while Canvys and Healthcare experienced declines.
Richardson Electronics maintains a revolving credit facility with PNC Bank, with no outstanding balance as of November 30, 2024.
The company continues to focus on its core markets, including alternative energy, healthcare, and semiconductor, and reports no significant changes to its risk factors.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Richardson Electronics Ltd. quarterly 10-Q report dated January 10, 2025. To report an error, please email earnings@qz.com.