Richardson Electronics, Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 1, 2018
January 10, 2019 at 03:30 am IST
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Richardson Electronics, Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended December 1, 2018. For the quarter, the company reported net sales of $41,314,000 against $39,082,000 a year ago. Operating loss was $454,000 against operating income of $772,000 a year ago. Net loss was $304,000 against net income of $1,668,000 a year ago. Loss was $0.02 per basic and diluted share compared to income of $0.01 per basic and diluted share a year ago.
For the six months, the company reported net sales of $85,471,000 against $76,077,000 a year ago. Operating income was $26,924,000 against $25,522,000 a year ago. Net income was $127,000 against $1,556,000 a year ago. Earnings were $0.01 per basic share compared to income of $0.12 per basic share a year ago.
Richardson Electronics, Ltd. is a manufacturer of engineered solutions, power grid and microwave tubes and related consumables; power conversion and radio frequency and microwave components; high-value replacement parts, tubes and service training for diagnostic imaging equipment, and customized display solutions. The Company's segments include Power and Microwave Technologies, Green Energy Solutions, Canvys and Healthcare. Healthcare segment manufactures, repairs, refurbishes and distributes high value replacement parts and equipment for the healthcare market, including hospitals, medical centers, asset management companies and others. The Canvys segment provides customized display solutions serving the corporate enterprise, financial, healthcare, industrial and medical original equipment manufacturers markets. Its products include electron tubes and related components, microwave generators, subsystems used in semiconductor manufacturing and visual technology solutions.