Richardson Electronics Q4 sales rise on strong demand
RELL•Overview
- U.S. engineered solutions maker's Q4 net sales rose 27.6% yr/yr across all business units
- Adjusted EPS for Q4 increased to $0.21 from $0.12 a year earlier
- Company cites strong demand in semiconductor, RF, and green energy markets for Q4 growth
The company did not provide specific financial guidance for the current quarter or fiscal year.
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q4 Sales | Beat | $66.20 mln | $56.27 mln (2 Analysts) |
| Q4 Adjusted EPS | Beat | $0.21 | $0.07 (2 Analysts) |
| Q4 EPS | $0.25 | ||
| Q4 Net Income | $3.70 mln | ||
| Q4 Gross Margin | 31.2% | ||
| Q4 Operating Income | $3.87 mln |
The one available analyst rating on the shares is "hold". The average consensus recommendation for the electronic equipment & parts peer group is "buy". Wall Street's median 12-month price target for Richardson Electronics Ltd is $14.50, about 15.6% below its July 21 closing price of $17.18. The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 22 three months ago.
Result drivers
- Semiconductor and RF demand - Co said Q4 PMT sales rose 28.1% on strong demand from semiconductor wafer fabrication equipment and RF/microwave products
