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 Closes Acquisition Of Cables Unlimited, Inc.

RF INDUSTRIES, LTD. (NASDAQ:RFIL) announced today that it has completed the acquisition of Long Island, NY-based Cables Unlimited, Inc., (CUI), a seller of high value fiber-optic cabling and connector products to enterprise and carrier network customers, for a total purchase price of $5,600,000, consisting of $2,800,000 in cash and 762,738 common shares. Privately-owned CUI had revenue of approximately $6,200,000 and non-audited non-GAAP adjusted EBITDA of approximately $645,000 in its most recent twelve months ended December 31, 2010.

RF Industries also announced that Darren Clark, the sole owner of Cables Unlimited, has been added as a new member to the Board of Directors of RF Industries. Darren co-founded Cables Unlimited, Inc. in 1992 and has been its principal executive officer since CUI's formation.

"This acquisition expands our product line into the fiber optics business and enables RFI to improve service for the three cable/connector markets that we have targeted: RF coaxial market; cabling products for the medical monitoring market, and fiber optic connectors and cable assemblies. Our largest customers, who have been seeking a reliable source of fiber optic cabling, have been encouraging RFI to enter this market. As a Corning certified 'Gold Member', a limited group of companies in the United States approved to deliver Corning's warrantied product line, we believe CUI's certification and expertise will support our expansion into the fiber optics marketplace. Additionally, CUI's large, modern Long Island, New York location gives us an East Coast presence and the relocation of some of our RF cable and connector operations to this facility will reduce delivery times and transportation expenses for many of our largest customers," said Howard Hill, President and CEO of RF Industries.

"CUI's recent contract wins and improving operating results are anticipated to increase RFI's profitability and cash flow, after one-time expenses related to the integration of the business, in the fourth quarter of the current fiscal year and throughout fiscal 2012," said Hill.

1 of 2

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 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs