Overview
Electronics manufacturer reported fiscal Q2 revenue up 5.7% yr/yr
Company declared $0.06 per share quarterly cash dividend
Fiscal Q2 EBITDA improved to $0.7 mln from breakeven last year
Outlook
Company is well positioned to drive continued earnings improvement for remainder of fiscal year
Company highlights strong balance sheet and durable customer relationships
Result Drivers
GES SALES GROWTH - GES sales increased by 39% due to higher demand for power management products
CANVYS SALES INCREASE - Canvys sales rose 28.1%, driven by higher sales in North America
COST MANAGEMENT - Higher volumes and disciplined cost management improved operating income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Beat | $52.29 mln | $49.90 mln (2 Analysts) |
Q2 EPS | -$0.01 | ||
Q2 Net Income | -$121,000 | ||
Q2 Gross Margin | 30.80% | ||
Q2 Operating Income | $132,000 |
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the electronic equipment & parts peer group is "buy."
Wall Street's median 12-month price target for Richardson Electronics Ltd is $12.50, about 8.3% above its January 6 closing price of $11.54
Press Release: ID:nGNX7m825z
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)