Exhibit 99.1

 

     FOR IMMEDIATE RELEASE
 

Contacts:

 

RF Industries

Mark Turfler 

SVP/CFO 

(858) 549-6340 

rfi@rfindustries.com

 

 

 

MKR Investor Relations Inc.

Todd Kehrli

Analyst/Investor Contact 

(323) 468-2300 

rfil@mkr-group.com 

 

   

RF Industries Reports Sales Growth of 28% and Net Income Growth of 66% Sequentially in Second Quarter of Fiscal 2019

 

 

SAN DIEGO, CA, June 12, 2019

RF Industries, Ltd, (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced its financial results for the second quarter of fiscal 2019 ended April 30, 2019.

 

Second Quarter Fiscal 2019 Financial Highlights:

 

·Net sales increased 28% sequentially to $13.6 million
·Gross margin was 30%, comparable to the prior sequential quarter
·Net income increased 66% sequentially to $1.1 million, or $0.11 per diluted share
·Backlog of $10.1 million at April 30, 2019 on second quarter bookings of $12.4 million
·Declared $0.02 per share dividend, the Company’s 36th consecutive quarterly dividend

 

Robert Dawson, President and CEO of RF Industries, commented:

 

"We generated solid sequential growth in sales in the second quarter, reflecting increases in both of our business segments quarter-over-quarter. These results include both organic growth in the low double-digits and inorganic growth from our recent acquisition. In addition, net income grew 66% sequentially, reflecting our progress with improved efficiencies and cost management and highlighting our ability to be profitable at varying levels of revenue. We continue to see opportunities in the Tier-1 wireless carrier ecosystem and increased business from our distribution channels, while also seeing continued expansion in our OEM segments. Looking ahead, as we continue to execute on our long term growth plan we expect to achieve sequential and year-over-year sales increases in the current fiscal third quarter.”

 

Second Quarter Fiscal 2019 Results

 

Net sales in the second quarter of fiscal 2019 were $13.6 million, a sequential increase of 28%, or $3.0 million, compared to the preceding first quarter, and compared to $20.5 million in the second quarter of fiscal 2018. The sequential increase in sales was driven by both project work in the OEM and wireless carrier market and increases in traditional run rate business, as well as six weeks of revenue contribution from the Company’s acquisition of C Enterprises during the quarter. The year-over-year decline in sales was a result of the largest series of orders in company history in the year ago second quarter.

 

Gross profit for the second quarter was $4.1 million, a sequential increase of 30%, or $949,000, compared to the preceding first quarter, and compared to $7.6 million in the second quarter of fiscal 2018. Gross margins were 30%, comparable to the prior sequential quarter.

 


The following information was filed by R F Industries Ltd (RFIL) on Wednesday, June 12, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate R F Industries Ltd's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by R F Industries Ltd.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account