Richardson Electronics Q2 2020 Earnings Report
Key Takeaways
Richardson Electronics reported a 4.1% decrease in net sales, totaling $39.6 million, compared to the prior year's second quarter. This decline was primarily due to economic softness in the PMT power grid tube business and a slow ramp-up in sales in the semiconductor wafer fab equipment business, as well as decreased Healthcare sales in Latin America. However, Canvys sales increased by 20.9%, and Healthcare CT tube sales were up by 11.9%. Gross margin increased to 32.0% of net sales, and the company reported an operating loss of $0.5 million, consistent with the previous year.
Net sales decreased by 4.1% to $39.6 million compared to the prior year's second quarter.
Canvys sales increased by 20.9% due to higher demand in North American and European markets.
Gross margin increased to 32.0% of net sales from 31.4% in the prior year's second quarter.
The company declared a quarterly dividend of $0.06 per share.
Richardson Electronics
Richardson Electronics
Richardson Electronics Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income