Richardson Electronics Q3 net loss $2.1M; non-GAAP EPS $0.11; cash $36.7M

RICHARDSON ELECTRONICS, LTD.

Net loss $2.1M (diluted EPS -$0.15) vs net income $0.8M ($0.05) in Q3 FY24; non-GAAP net income $1.6M ($0.11).
Net sales $53.8M, up 2.7% YoY; gross margin 31.0% vs 29.5%.
Semiconductor wafer fab sales surged 139%; Canvys up 39.5%; Healthcare down 32.3% on asset sale.
Sold majority of Healthcare assets to DirectMed Imaging on Jan 24; recorded $4.9M loss on disposal.
Board declared $0.06 per share quarterly cash dividend; cash $36.7M, no debt.

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