Richardson Electronics Q1 net income $6.3M, EPS $0.45; sales +25.8% to $67.6M

RICHARDSON ELECTRONICS, LTD.

Net sales $67.6M, up 25.8% YoY; operating income $8.8M vs $2.8M prior year.
Diluted EPS $0.45 vs $0.20 prior year; gross margin improved to 34.1% from 30.3%.
Backlog $199.2M; new Green Energy Solutions segment sales up 230.7% to $5.9M.
Board declared $0.06/share quarterly cash dividend payable Nov 23 to holders of record Nov 4.
Cash and investments $35.6M; ninth consecutive quarter of sequential revenue growth.

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