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TheStreet Open House

RF Industries Reports Record 31% Increase In Third Quarter Revenues

Stocks in this article: RFIL

Fifth graph, second sentence of release should read: Most of the increase in net sales is due to $15.4 million of sales for the nine months ended July 31, 2013 from Cables Unlimited (sted $10.9 million of sales).

The corrected release reads: 

RF INDUSTRIES REPORTS RECORD 31% INCREASE IN THIRD QUARTER REVENUES

RF Industries, Ltd. (NASDAQ:RFIL) announced results for the third quarter and nine months ended July 31, 2013.

Highlights:

  • Third quarter revenues increased 31% to a third quarter record $9.6 million
  • Operating income for the quarter increased 34% compared to the 2012 third quarter
  • Growth driven by customized connectivity solutions for wireless infrastructure
  • Balance sheet remains robust with $10.8 million in cash and no debt

Howard Hill, Chief Executive Officer, commented, “We are pleased to report record revenue for the fourth consecutive quarter and continued strong demand for our offerings across all end markets. In particular, we have been focused on growing our custom interconnect solutions to the wireless infrastructure industry. During the quarter, we continued to see the positive impact of this long term strategy with strong sales and profitability in our Cables Unlimited division. Our aim is to continue to provide customized solutions, such as our custom cable product, to new and existing customers that allow them to remain competitive in this space.”

For the quarter ended July 31, 2013, the Company reported record third quarter net sales of $9.6 million, an increase of 31%, compared to $7.3 million in the same quarter of fiscal 2012. The Company reported operating income of $1.6 million, an increase of 34% compared to operating income of $1.2 million in the third quarter of the previous year. Income from continuing operations for the third quarter of fiscal 2013 was $1.2 million, or $0.15 per basic and $0.13 per diluted share, compared to $0.8 million or $0.11 per basic and $0.10 per diluted share in the third quarter of fiscal 2012.

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