Richardson Electronics Q1 2021 Earnings Report
Key Takeaways
Richardson Electronics' net sales for the first quarter of fiscal 2021 decreased 4.5% to $38.8 million compared to $40.7 million in the prior year's first quarter, primarily due to the impact on demand from COVID-19. The company reported an operating loss of $0.6 million compared to an operating income of $0.1 million in the prior year’s first quarter. Net loss for the first quarter of fiscal 2021 was $1.1 million compared to a net income of $0.2 million in the first quarter of fiscal 2020.
Net sales of $38.8 million were down less than 5% from last year’s first quarter despite the COVID-19 impact.
Sales increased for PMG, Canvys display solutions in North America and Semiconductor Wafer Fabrication equipment products versus Q1 FY20.
Gross margin was 31.8% of net sales versus 31.9% of net sales in the prior year’s first quarter.
Operating loss was $0.6 million compared to an operating income of $0.1 million in last year’s first quarter.
Richardson Electronics
Richardson Electronics
Forward Guidance
No specific forward guidance was given in the provided text.