Richardson Electronics Q1 FY2022 net income $2.6M, sales up 38.4% to $53.7M, declares $0.06 dividend

RICHARDSON ELECTRONICS, LTD.

Net sales $53.7M (+38.4% YoY); diluted EPS $0.20 vs loss $0.09 in prior year.
Operating income $2.8M vs operating loss $0.6M; gross margin 30.3% vs 31.8%.
Cash and investments $36.4M, down from $43.3M due to working capital for sales growth.
PMT sales +42.2%, Canvys +25.8%, Healthcare +22.0%; record backlogs for ULTRA3000, microwave, Canvys.
Board declared $0.06 quarterly dividend, payable Nov 24, 2021 to holders of record Nov 5, 2021.

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