RICHARDSON ELECTRONICS NOTCHES 7th STRAIGHT RECORD QUARTER
Richardson Electronics Ltd. reports net earnings reached a record $5.2 million in the second quarter of fiscal 2001, which ended Nov. 30, a 59-percent gain compared to the second fiscal quarter of 2000. Earnings per share were 34 cents, a 31-percent increase vs. 26 cents for the same period in 1999. Revenues also continued to set new quarterly records, at $131.1 million, a 34-percent increase compared to the second quarter of 2000. For the six-month period, net earnings were $9.9 million, compared with $6 million a year ago. The company recorded sales of $251.2 million in the first half, up 30 percent vs. the prior year.
“Our business continues to fire on all cylinders, led by our RF & Wireless Group,” says Edward J. Richardson, chairman and CEO. “We are focused on several attractive growth markets, particularly wireless communications. Our strategy of providing engineered solutions to meet our customers’ specific needs continues to drive the company’s growth, while we control costs to maximize profitability.”
Richardson Electronics is a global provider of “engineered solutions,” serving the RF and wireless communications, industrial power conversion, medical imaging, security, and display systems markets.
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