This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RF Industries Fourth Quarter Sales Increase 31% To A Record $5,001,000; Net Income Jumps 62% To $435,000, Or $0.13 Per Diluted Share

RF INDUSTRIES, LTD., (NASDAQ:RFIL) today announced results for the fourth quarter and fiscal year ended October 31, 2010.

Fourth Quarter Results

Sales for the fourth quarter ended October 31, 2010 increased 31% to a record $5,001,000, compared to sales of $3,811,000 in the fourth quarter last year. Net income jumped 62% to $435,000, or $0.13 per diluted share, compared to $268,000, or $0.08 per diluted share, in the same quarter last year.

"Record fourth quarter sales are attributable to a 13% sales gain at the RF Connector and Cable Division, with strong sales at Connector products, cable assemblies, custom connector products and retail operations. Operating profitability improved due to higher sales and reduced operating expenses, as a percent of sales, primarily associated with a 33% sales gain at RF Connectors and Cable Assembly," said Howard Hill, President and CEO of RF Industries.

Fiscal 2010 Results

For the fiscal year ended October 31, 2010, sales increased 15% to $16,322,000, compared to $14,213,000 in fiscal 2009. Net income advanced 86% to $1,220,000, or $0.38 per diluted share, compared to $656,000, or $0.20 per diluted share, for fiscal 2009.

"RFI's 18th consecutive year of profitability was led by the RF Connector and Cable Assembly segment's 16% sales gain to $14,094,000, lower operating expenses, as a percent of sales, and improved operating margins. Sales increased 30% at Bioconnect, our Medical Cabling and Interconnector Division, to a record $1,725,000 and Bioconnect's operating margin also improved," said Hill.

Sales were down at the RF Wireless segment due to continuing weakness in wireless capital goods spending and public safety agency wireless infrastructure spending.

"The strong fourth quarter sales rate has continued into the current first quarter, which is typically our seasonally weakest quarter of the fiscal year. With sales gains already in hand, particularly at our Bioconnect and Aviel business operations, we expect RFI will report improved revenue and net income for the first quarter ending January 31, 2011, compared to the same quarter in fiscal 2010," said Howard Hill, RFI's CEO and President.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs