- Richardson Electronics (RELL -9.1%) reported Q2 sales growth of 5.7% Y/Y to $41.31M. Sales by segment: PMT $32.33M (+7.5% Y/Y); Canvys $6.49M (-3.1% Y/Y) and Healthcare $2.49M (+7.6% Y/Y).
- Q2 Overall gross margin declined by 280 bps to 31.4%, due to a less favorable product mix and unfavorable manufacturing variances in both PMT and Richardson Healthcare.
- Q2 SG&A expenses $13.45M (+6.53% Y/Y) and margin was 32.5% up by 25 bps.
- Q2 Net cash provided by operating activities $881K, compared to $194k a year ago.
- Cash and investments were $53.2M, as of December 1, 2018.
- Company’s Board of Directors authorized the reactivation of its share buyback program, up to $9.4M; currently company has 11M outstanding shares of common stock and 2.1M outstanding shares of Class B common stock.
- Previously: Richardson Electronics misses on revenue (Jan. 9)
- Previously: Richardson Electronics declares $0.06 dividend (Jan. 9)
- Now read: Volt Information Sciences +8.3% post Q4 results
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