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May 28, 2022
Richardson Electronics Q4 2022 Earnings Report
Reported a fourth quarter with increased net sales and net income compared to the prior year's fourth quarter.
Key Takeaways
Richardson Electronics reported a strong fourth quarter in fiscal year 2022, with net sales up 22.1% to $61.6 million and net income of $8.3 million, driven by growth in all three business units. The company's backlog increased to $206.2 million, and earnings per share (diluted) were $0.59. The Board of Directors declared a $0.06 per share quarterly cash dividend.
Net sales increased by 22.1% compared to the prior year's fourth quarter, reaching $61.6 million.
Backlog increased to $206.2 million versus $110.0 million at the end of the fourth quarter of last fiscal year.
Operating income rose to $5.0 million, compared to $2.3 million in the fourth quarter of fiscal 2021.
Earnings per common share (diluted) were $0.59, compared to $0.14 per common share (diluted) in the fourth quarter of fiscal 2021.
Revenue by Segment
Forward Guidance
Richardson Electronics believes they are well positioned for long-term, profitable growth and expects sales and profits to continue to increase in fiscal 2023.
Positive Outlook
- Strategies to develop new products and applications for large and emerging global markets.
- Eighth consecutive quarter of sequential revenue growth.
- Highest level of annual revenue since the sale of RFPD in 2011.
- Starting fiscal 2023 from a position of strength with over $206 million in backlog.
- Increasing sales from new manufactured products and new customers.
Challenges Ahead
- Increasingly challenging and uncertain global economic environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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