RF Industries Q4 net sales down 31% YoY to $15.9M; posts net loss of $851,000

R F INDUSTRIES LTD

Q4 net sales $15.9M, down 31% year-over-year; full-year sales $72.2M, down 15%.
Q4 gross profit margin 28.4%, down 270 bps YoY but up 400 bps sequentially.
Q4 GAAP net loss $851k ($0.08 per share); non-GAAP net loss $68k ($0.01 per share).
Adjusted EBITDA loss $108k in Q4, compared to $1.9M income in prior-year period.
Year-end cash $4.9M; inventory down 11% amid lower carrier capex.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

R F INDUSTRIES LTD reported the fourth quarter and fiscal year ended October 31, 2023 results: revenue $15.9 million, net income $851,000, or $0.08 per diluted share, EPS $0.08 per diluted share.

Period: the fourth quarter and fiscal year ended October 31, 2023
Revenue: $15.9 million
Net income: $851,000, or $0.08 per diluted share
EPS: $0.08 per diluted share
Result: reported results

Exact text from the filing

fourth quarter and fiscal year 2023 financial results for the year ended October 31, 2023. Fourth Quarter Fiscal 2023 Highlights and Operating Results: ● Net sales were $15.9 million; flat on a sequential basis compared to the prior third fiscal quarter of 2023 and a decrease of 31% year-over-year. ● Backlog of $16.1 million at year-end on fourth quarter

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Source: SEC EDGAR

accession 0001437749-24-001952

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