RF Industries Q2 revenue up 3.7% to $22.3M; non-GAAP EPS falls to $0.13

R F INDUSTRIES LTD

2023-Q2 EPS reported -$0.06 revenue$40,642,000

Net sales rose 3.7% to $22.3M; GAAP EPS $0.06 vs $0.05, aided by $164K tax benefit.
Operating income fell to $489K from $746K; gross margin 27.4% (down 90 bps) on lower small cell.
Non-GAAP net income $1.3M ($0.13) vs $1.6M ($0.16); Adjusted EBITDA $1.4M vs $2.0M.
Backlog $18.9M at quarter end on bookings $16.7M; current backlog $17.6M.

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 second fiscal quarter ended April 30, 2023 results: revenue $22.3 million, net income $581,000, EPS $0.06 per diluted share.

Period: second fiscal quarter ended April 30, 2023
Revenue: $22.3 million
Net income: $581,000
EPS: $0.06 per diluted share
Result: reported results

Exact text from the filing

● Net sales increased 3.7% to $22.3 million compared to the second quarter of fiscal 2022. ● Backlog was $18.9 million at the end of the second quarter on bookings of $16.7 million. As of today, backlog stands at $17.6 million. ● Gross profit margin was 27.4%, down 90 basis points from 28.3% in the second quarter of fiscal 2022, primarily related to lower revenue contribution from our small cell solutions. ● Operating income was $489,000 compared to operating income of $746,000 in the second quarter of fiscal 2022, primarily related to lower gross profit from our small cell solutions. ● Consolidated net income was $581,000, or $0.06 per diluted share, compared to net income of $503,000, or $0.05 per diluted share in the second quarter of fiscal 2022.

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Source: SEC EDGAR

accession 0001437749-23-017407

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