Richardson Electronics Q2 2022 Earnings Report
Key Takeaways
Richardson Electronics reported a strong second quarter with net sales up 27.3% to $54.0 million compared to the previous year's second quarter. Net income was $4.1 million, and earnings per share (diluted) were $0.30. The company's backlog increased to $146.9 million.
Net sales increased by 27.3% compared to the prior year's second quarter, reaching $54.0 million.
Sales increased for PMG, Canvys, Healthcare and Semiconductor Wafer Fabrication Equipment products versus the second quarter of fiscal year 2021.
Backlog increased to $146.9 million compared to $126.5 million at the end of the first quarter.
Earnings per common share (diluted) were $0.30 compared to $0.05 in the second quarter of the prior year.
Richardson Electronics
Richardson Electronics
Forward Guidance
Company remains confident that fiscal year 2022 will be a strong year of sales growth and improved profitability.