RF Industries Reports Fiscal First-Quarter Results
Wednesday, March 14, 2018 | Comments

RF Industries announced results for the fiscal first quarter ended Jan. 31. First quarter sales increased 56 percent compared with the first quarter last year, and net income was $500,000 compared to $400,000 for the full fiscal year 2017.

Gross profit increased to 30 percent from 28 percent of sales in the first quarter last year.

“In the first quarter we executed well on our long-term growth initiatives, which provided a strong start to fiscal 2018,” said Robert Dawson, president and CEO. “We drove increased sales at all divisions over quarter one last year and controlled costs, allowing us to deliver improved margins and profitability.

“As I discussed at the end of quarter four, we are building a culture of positive energy and accountability where we leverage the correct channels and invest in the necessary resources to address the needs of the market. These new go-to-market strategies and channel models are working with higher sales and bookings across all divisions in quarter one.”

At end-January, the company reported working capital of $13.9 million, including cash and cash equivalents of $5.9 million, a current ratio of 3.8-to-1, no outstanding debt and stockholders' equity of $21.9 million.

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