Richardson Electronics Q3 Sales Grow 3.1% to $55.5M, Declares $0.06 Dividend
Richardson Electronics posted fiscal Q3 net income of $0.9 million ($0.07 per diluted share) on net sales of $55.5 million, a 3.1% year-over-year increase. Total backlog grew 11.4% to $151.2 million and the board declared a $0.06 per share quarterly cash dividend.
1. Third-Quarter Financial Results
Richardson Electronics reported net sales of $55.5 million for the third quarter of fiscal 2026, up 3.1% from $53.8 million a year earlier, and recorded net income of $0.9 million, or $0.07 per diluted share, reversing a prior-year loss.
2. Backlog Growth and Dividend
Total backlog climbed 11.4% sequentially to $151.2 million, its highest level in nearly three years, and the board approved a $0.06 per share quarterly cash dividend to shareholders.
3. Segment Performance
Excluding its former Healthcare segment, PMT net sales rose 6.0% year-over-year, with PMT revenues up 14.5% driven by semiconductor wafer fab and RF/Microwave products, while GES sales declined 5.4% and Canvys fell 13.5% due to project timing.
4. Cash Position and Capital Allocation
The company ended the quarter with $29.5 million in cash and equivalents, invested $0.8 million in capital expenditures and maintained zero outstanding debt on its revolving credit line, supporting ongoing strategic investments.