Richardson Electronics Reports First Quarter Results; Declares Quarterly Cash Dividend

ABOUT RICHARDSON ELECTRONICS, LTD.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. Nearly 50% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. 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 31, 2024   June 1, 2024 
Assets      
Current assets:      
Cash and cash equivalents $23,035  $24,263 
Accounts receivable, less allowance for credit losses of $351 and $323, respectively  30,862   24,845 
Inventories, net  110,994   110,149 
Prepaid expenses and other assets  2,488   2,397 
Total current assets   167,379    161,654 
Non-current assets:          
Property, plant and equipment, net     20,612       20,681  
Intangible assets, net     1,582       1,641  
Right of use lease assets     2,538       2,760  
Deferred income tax assets     5,555       5,500  
Other non-current assets     197       209  
Total non-current assets     30,484       30,791  
Total assets   $ 197,863     $ 192,445  
Liabilities            
Current liabilities:            
Accounts payable   $ 19,758     $ 15,458  
Accrued liabilities     15,403       15,404  
Lease liabilities current     1,107       1,169  
Total current liabilities     36,268       32,031  
Non-current liabilities:            
Deferred income tax liabilities     79       90  
Lease liabilities non-current     1,431       1,591  
Other non-current liabilities     1,021       781  
Total non-current liabilities     2,531       2,462  
Total liabilities     38,799       34,493  
Stockholders’ Equity            
Common stock, $0.05 par value; 12,331 and 12,254 shares issued
and outstanding on August 31, 2024 and June 1, 2024, respectively
    617       613  
Class B common stock, convertible, $0.05 par value; 2,049 shares issued
and outstanding on August 31, 2024 and June 1, 2024
    102       102  
Preferred stock, $1.00 par value, no shares issued            
Additional paid-in-capital     73,315       72,744  
Retained earnings     83,630       83,729  
Accumulated other comprehensive income     1,400       764  
Total stockholders' equity     159,064       157,952  
Total liabilities and stockholders’ equity   $ 197,863     $ 192,445  



« 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