Richardson Electronics Reports First Quarter Fiscal 2021 Results and Declares Quarterly Cash Dividend

ABOUT RICHARDSON ELECTRONICS, LTD.

Richardson Electronics, Ltd. is a leading global provider of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high- value flat panel detector solutions, replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

 
 
Richardson Electronics, Ltd. 
Consolidat ed Balance Sheets
(in thousands, except per share amounts)
 
   Unaudited   Audited 
   August 29, 2020   May 30, 2020 
Assets        
Current assets:        
Cash and cash equivalents $33,495  $30,535 
Accounts receivable, less allowance of $254 and $334, respectively  21,591   20,197 
Inventories, net  60,160   57,492 
Prepaid expenses and other assets  2,390   2,442 
Investments - current  9,000   16,000 
Total current assets   126,636    126,666 
Non-current assets:        
Property, plant and equipment, net  17,611       17,674  
Intangible assets, net     2,450       2,505  
Lease ROU asset     3,151       3,419  
Non-current deferred income taxes     468       456  
Total non-current assets     23,680       24,054  
Total assets   $ 150,316     $ 150,720  
Liabilities and Stockholders Equity                
Current liabilities:                
Accounts payable   $ 14,809     $ 17,372  
Accrued liabilities     12,302       10,324  
Lease liability current     1,423       1,485  
Total current liabilities     28,534       29,181  
Non-current liabilities:                
Non-current deferred income tax liabilities     170       161  
Lease liability non-current     1,701       1,941  
Other non-current liabilities     841       777  
Total non-current liabilities     2,712       2,879  
Total liabilities     31,246       32,060  
Stockholders equity                
Common stock, $0.05 par value; issued and outstanding 11,111 shares at
August 29, 2020 and 11,038 shares at May 30, 2020
    556       552  
Class B common stock, convertible, $0.05 par value; issued and outstanding
2,097 shares at August 29, 2020 and May 30, 2020
    105       105  
Preferred stock, $1.00 par value, no shares issued            
Additional paid-in-capital     61,946       61,749  
Retained earnings     52,837       54,764  
Accumulated other comprehensive income     3,626       1,490  
Total stockholders equity     119,070       118,660  
Total liabilities and stockholders equity   $ 150,316     $ 150,720  
                 



« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise