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Feb 25, 2023
Richardson Electronics Q3 2023 Earnings Report
Reported tenth consecutive quarter of year-over-year revenue growth for the third quarter fiscal 2023.
Key Takeaways
Richardson Electronics reported a 27.2% increase in net sales to $70.4 million for the third quarter of fiscal 2023, driven by growth in PMT, GES, and Canvys business units. Operating income increased by 110% year-over-year, and earnings per share (diluted) rose to $0.44, compared to $0.21 in the prior year's third quarter.
Net sales increased by 27.2% year-over-year, reaching $70.4 million.
Backlog totaled $175.1 million, slightly lower than the $175.6 million at the end of the third quarter of last fiscal year.
Operating income increased to $7.6 million, a significant rise from $3.6 million in the same quarter last year.
Earnings per common share (diluted) increased to $0.44, compared to $0.21 in the prior year's third quarter.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the press release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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