Richardson Electronics Q3 FY2024 net sales $52.4M, down 25.6% YoY; EPS $0.05 vs $0.44

RICHARDSON ELECTRONICS, LTD.

Sales Q3 net sales $52.4M, down 25.6% YoY; sequential increase 18.7%.
Net income $0.8M ($0.05 diluted EPS) vs $6.3M ($0.44) last year.
Inventory decreased $4.0M sequentially; cash & investments $18.9M.
Gross margin 29.5% (down from 31.8%); PMT sales fell $15.7M on wafer fab weakness.
Board declares $0.06 quarterly dividend payable May 29, 2024, record May 10.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RICHARDSON ELECTRONICS, LTD. reported third quarter ended March 2, 2024 results: revenue $52.4 million, net income $0.8 million, EPS $0.05 per diluted share.

Period: third quarter ended March 2, 2024
Revenue: $52.4 million
Net income: $0.8 million
EPS: $0.05 per diluted share
Result: reported results

Exact text from the filing

Net sales for the third quarter of fiscal 2024 decreased 25.6% to $52.4 million compared to net sales of $70.4 million in the prior year’s third quarter

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Source: SEC EDGAR

accession 0000950170-24-043412

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