Richardson Electronics (RELL) Tops Q3 EPS by 8c
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Richardson Electronics Reports 10th Consecutive Quarter of Year-Over-Year Revenue Growth for the Third Quarter Fiscal 2023; Declares Quarterly Cash Dividend
April 5, 2023 4:15 PM EDTGreen Energy Solutions sales increase 103% over Q3 FY22; total net sales increase 27.2%
Third Quarter Highlights
Net sales of $70.4 million were up 27.2% from last years third quarter driven by increases in Power and Microwave Technologies (PMT), Green Energy Solutions (GES) and Canvys business units.Backlog totaled $175.1 million in the third quarter versus $175.6 million at the end of the third quarter of last fiscal year.Gross margin was 31.8% of net sales for the third quarter of fiscal 2023, the same as in the prior years third... More