secwatch.observer — SEC 8-K summary
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Issuer:     RICHARDSON ELECTRONICS, LTD. (RELL)
CIK:        0000355948
Form:       8-K
Filed at:   2024-01-10T23:59:59+00:00
Accession:  0000950170-24-003645
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Richardson Electronics Q2 net loss $1.8M on 33% sales drop; declares $0.06 dividend
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- Net loss of $1.8M ($0.13 diluted loss) vs net income of $5.5M ($0.39 diluted EPS) in Q2 last year.
- Net sales fell 33% to $44.1M, driven by declines in PMT (-22.9%), GES, and Canvys.
- Gross margin contracted to 28.4% from 33.2% on product mix and manufacturing under-absorption.
- Backlog increased 2% sequentially; management expects sequential revenue growth in H2.
- Declared $0.06 quarterly cash dividend, payable Feb 28, 2024 to holders of record Feb 9.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/355948/000095017024003645/0000950170-24-003645-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/355948/000095017024003645/rell-20240110.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-003645

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