RF Industries Q1 net loss widens to $1.2M; revenue up 8.4%

R F INDUSTRIES LTD

2023-Q1 EPS reported -$0.11 revenue$18,343,000

Net sales of $18.3M (+8.4% YoY) driven by Microlab's higher-margin contribution.
Operating loss of $(1.2)M vs $(362K) loss a year ago; net loss $(1.2)M ($(0.11)/diluted share) vs $(277K) loss.
Gross margin improved 360 bps to 27.7% from 24.1% due to product mix shift.
Non-GAAP net loss of $(25K) vs non-GAAP net income of $691K; Adjusted EBITDA $78K vs $691K.
Backlog at quarter-end $24.5M on bookings of $15.0M; current backlog $24.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

R F INDUSTRIES LTD reported the first fiscal quarter ended January 31, 2023 results: revenue $18.3 million, net income $(1.2) million, or $(0.11) per diluted share, EPS $(0.11) per diluted share.

Period: the first fiscal quarter ended January 31, 2023
Revenue: $18.3 million
Net income: $(1.2) million, or $(0.11) per diluted share
EPS: $(0.11) per diluted share
Result: reported results

Exact text from the filing

systems, today announced results for its first fiscal quarter ended January 31, 2023. First Quarter Fiscal 2023 Highlights and Operating Results: ● Net sales increased 8.4% to $18.3 million compared to the first quarter of fiscal 2022. ● Backlog was $24.5 million at the end of the first quarter on bookings of $15.0 million. As of today, backlog stands at $24.0

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Source: SEC EDGAR

accession 0001437749-23-006361

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