Richardson Electronics reported fiscal 2027 first-quarter net sales of $64.9 million, up 18.9% from $54.6 million a year earlier.
The quarter marked Richardson Electronics’ ninth consecutive quarter of year-over-year sales growth.
Net income increased 112.6% to $4.1 million.
Diluted earnings per share reached $0.27.
The company generated $4.2 million of free cash flow during the quarter.
Backlog ended the period at $184.4 million, up 36.9% year-over-year and reaching its highest level in more than three years.
Power and Microwave Technologies revenue increased 19.7%, driven by semiconductor wafer fabrication equipment and RF and microwave products.
Green Energy Solutions sales increased 27.1%, supported by wind products and newer offerings including Battery Energy Storage Systems.
Canvys revenue increased 7.9%, reflecting higher North American sales.
Richardson Electronics also declared a quarterly cash dividend of $0.06 per share.
Management expects fiscal 2027 to be another year of profitable growth, supported by demand in semiconductor manufacturing, power management, energy storage, defense, and specialized display applications.
KEY QUOTES:
“Fiscal 2027 is off to an excellent start, as Richardson Electronics delivered its ninth consecutive quarter of year-over-year sales growth, expanded levels of profitability, and generated strong free cash flow.”
“Our backlog ended the first quarter at $184.4 million, which increased year-over-year by nearly $50 million, or 36.9%, and the highest level in more than three years.”
Edward J. Richardson, Chairman, CEO and President of Richardson Electronics
