Richardson Electronics Q3 net income surges to $2.9M; EPS $0.21 vs $0.02; declares $0.06 dividend

RICHARDSON ELECTRONICS, LTD.

Net sales up 22.3% YoY to $55.3M; all three business units (PMT, Canvys, Healthcare) grew.
Backlog rose to $175.6M from $146.9M Q2 and $98.7M a year ago; seventh straight quarter of sequential revenue growth.
Diluted EPS of $0.21 vs $0.02 in prior year; operating income improved to $3.6M from $0.3M.
Dividend of $0.06 per common share declared, payable May 25, 2022 to holders of record May 6, 2022.
Gross margin declined to 31.8% from 34.9% due to product mix and higher freight costs.

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