Richardson Electronics Q4 2021 Earnings Report
Key Takeaways
Richardson Electronics reported a strong fourth quarter in fiscal year 2021, with net sales increasing by 35.1% to $50.5 million compared to the prior year's fourth quarter. The company's net income for the quarter was $1.9 million, a significant improvement from the net loss of $1.3 million in the same quarter of the previous year.
Net sales increased by 35.1% compared to the prior year's fourth quarter, reaching $50.5 million.
Gross margin improved to 32.4% of net sales, up from 30.4% in the prior year's fourth quarter.
Operating income was $2.3 million, a turnaround from the operating loss of $1.3 million in the prior year's fourth quarter.
Earnings per common share (diluted) were $0.14 for the fourth quarter of fiscal 2021.
Richardson Electronics
Richardson Electronics
Richardson Electronics Revenue by Segment
Forward Guidance
The company is excited about the outlook for all of its businesses in fiscal year 2022.
Positive Outlook
- Strong sales growth in all strategic business units.
- Highest quarterly financial performance in nearly 10 years.
- Excitement about the outlook for all businesses in fiscal year 2022.
- Focus on patent pending ultracapacitor modules for wind turbines.
- Development of related LED battery replacements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income