RF Industries reports record Q3 sales of $23.8M, up 56% YoY; GAAP EPS $0.08

R F INDUSTRIES LTD

2022-Q3 EPS reported $0.10 revenue$62,265,000

Net sales $23.8M, up 11% sequentially and 56% YoY; Microlab contributed $6.5M in the quarter.
Gross profit margin improved to 30% from 28% (excluding ERC) in Q3 fiscal 2021.
GAAP net income $771K ($0.08 diluted EPS); non-GAAP net income $1.2M ($0.12).
Adjusted EBITDA $2.1M compared to $1.0M in Q3 fiscal 2021.
Backlog $30.6M at July 31, 2022; quarter bookings $26.8M.

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