RICHARDSON ELECTRONICS REPORTS RECORD QUARTERLY SALES; RF/WIRELESS DEMAND FUELS GROWTH
Richardson Electronics Ltd. reports record sales of $98.9 million for the third quarter of fiscal 2000, ended Feb. 29, up 28 percent from $77.1 million in the prior fiscal period. For the nine-month period, sales increased 24 percent to $292 million from $235.4 million. The Solid State and Components group, up 75 percent to $38.5 million in the quarter and 51 percent to $101.5 million for the nine months, led sales gains. The Security Systems Division achieved 16-percent growth in the quarter, to $20.6 million, and a 23-percent gain to $62.4 million for the nine months. In addition, net earnings were 20 cents per share in the third quarter, compared to 5 cents per share in the prior year.
“Results were particularly encouraging in Solid States and Components with the group reporting an all-time sales high. Demand in the RF/wireless communication market was the main driver behind the growth,” says Edward J. Richardson, chairman and CEO. Richardson Electronics is a specialized international distributor of electronic components, equipment and assemblies, including electronic security products.
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