Richardson Electronics Q3 Sales Rise 3.1%, PMT Segment Up 9.7%
Richardson Electronics reported a 3.1% increase in sales to $55.5 million, with PMT sales up 9.7% driven by semiconductor wafer fabs and RF/microwave products, posting $0.07 EPS versus a $0.15 loss. Operating expenses rose to $16.2 million from $14.5 million, cash totaled $29.5 million and extended lead times persist.
1. Q3 Financial Results
Richardson Electronics posted net sales of $55.5 million in the third quarter of fiscal 2026, representing a 3.1% year-over-year increase. Diluted earnings per share swung to $0.07 from a $0.15 per-share loss in the prior-year period.
2. PMT Segment Growth
The Power and Microwave Technologies segment saw sales climb 9.7%, driven by strong demand from semiconductor wafer fabrication customers and RF/microwave applications in aerospace, satellite communications and defense.
3. Cost Structure and Liquidity
Operating expenses rose to $16.2 million from $14.5 million as salaries and incentive costs increased. The balance sheet remains strong with $29.5 million in cash and equivalents and no outstanding revolver debt.
4. Operational Outlook
The sale of the healthcare business in fiscal 2025 will no longer affect year-over-year comparisons, while extended component lead times could pressure production schedules and delivery timelines in upcoming quarters.