Richardson Electronics Q2 2021 Earnings Report
Key Takeaways
Richardson Electronics reported a 7% increase in net sales to $42.4 million for the second quarter of fiscal 2021 compared to $39.6 million in the prior year's second quarter. The company achieved net income of $0.7 million, a significant improvement from the net loss of $0.6 million in the same quarter of the previous year. Earnings per common share (diluted) for the quarter was $0.05.
Net sales increased by 7% to $42.4 million compared to the previous year's second quarter.
Sales increased for PMG, Healthcare, and Semiconductor Wafer Fabrication equipment products versus Q2 FY20.
Gross margin improved to 33.8% of net sales compared to 32.0% in the prior year's second quarter.
Operating income was $0.9 million compared to an operating loss of $0.5 million in the prior year's second quarter.
Richardson Electronics
Richardson Electronics
Forward Guidance
No specific forward guidance was provided in the press release.