Richardson Electronics Q1 net sales down 22% to $52.6M; EPS $0.09

RICHARDSON ELECTRONICS, LTD.

Net sales $52.6M, down 22.2% YoY; diluted EPS $0.09 vs $0.45.
Operating income fell to $1.5M from $8.8M; gross margin 32.8% vs 34.1%.
Sales drop driven by semiconductor wafer fab customers and wind turbine ultracapacitor modules.
No debt; cash and investments $24.1M. Board declared $0.06 quarterly dividend payable Nov 29.
Backlog $148.1M vs $160.4M at Q4 FY23.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

RICHARDSON ELECTRONICS, LTD. reported first quarter ended September 2, 2023 results: revenue $52.6 million, net income $1.2 million, EPS $0.09.

Period: first quarter ended September 2, 2023
Revenue: $52.6 million
Net income: $1.2 million
EPS: $0.09
Result: reported results

Exact text from the filing

(630) 208-2200 | Fax: (630) 208-2550 RICHARDSON ELECTRONICS REPORTS FIRST QUARTER FISCAL 2024 AND DECLARES QUARTERLY CASH DIVIDEND First Quarter Highlights • Net sales of $52.6 million were down $15.0 million, or 22.2% from last year’s first quarter primarily due to a near-term reduction in sales to semiconductor wafer fab customers, and a timing-related

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Source: SEC EDGAR

accession 0000950170-23-052895

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