RF Industries Releases Financial Results
Tuesday, September 12, 2017 | Comments

RF Industries announced results for the fiscal year (FY) third quarter and the nine months ended July 31.

In the third quarter, revenues increased for the third consecutive quarter and year-over-year, and distributed antenna systems (DAS) product sales continued to grow. Net income increased $800,000.

Third quarter net sales increased 2.2 percent to $7.8 million compared with $7.6 million in the same quarter last year. Third quarter fiscal 2017 overall gross margins were substantially unchanged compared with the same quarter last year. The company's cost-cutting efforts reduced selling and general expenses by $760,000, to $1.8 million, compared with $2.6 million in the same quarter last year.

As of July 31, RF Industries reported working capital of $13.1 million, including cash and cash equivalents of $5.5 million, a current ratio of 4.9-to-1, no outstanding debt and stockholders' equity of $21.1 million.

“It was my pleasure to join the company during the third quarter, and I feel energized with the results that the team delivered to improve our profitable growth,” said Robert Dawson, president and CEO. “Third quarter net income more than doubled from our recent second quarter results, and our cash position has significantly improved. I am encouraged by the company's increasing DAS product sales, the return to profitability in our hybrid fiber optic product business, and improving sales in our cable assembly and wiring business.”

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