RF Industries Announces Preliminary Unaudited Results for the Fourth Quarter and Fiscal Year 2019 Sales Growth for the Fourth...
December 09 2019 - 3:01PM
via NEWMEDIAWIRE –
RF Industries, Ltd, (NASDAQ:
RFIL), a national manufacturer and marketer of interconnect
products and systems, today announced selected preliminary
unaudited financial results for its fourth quarter and full-year
ended October 31, 2019.
Select Preliminary Unaudited Fourth Quarter and Full Year
Fiscal 2019 Financial Results
Net sales for the fourth quarter of fiscal 2019 are expected to
be approximately $15.5 million, compared to $9.9 million a year
ago, an increase of approximately 57% year-over-year. Fiscal 2019
full-year net sales are expected to be approximately $55.3 million,
compared to $50.2 million a year ago, an increase of approximately
10% year-over-year.
Net income for the fiscal 2019 fourth quarter is expected to be
between $700,000 and $800,000, or $0.07 and $0.08 per diluted share
respectively, compared to $460,000, or $0.05 per fully diluted
share, in the fourth quarter a year ago. Fiscal 2019 full-year net
income is expected to be approximately $3.4 million to $3.5
million, or $0.35 and $0.36 per diluted share respectively,
compared to $5.8 million, or $0.61 fully diluted share, a year
ago.
Robert Dawson, President and CEO of RF Industries,
commented:
“We are pleased to report another strong quarter with sales
growth of 57% over the fourth quarter of last year, reflecting the
continued progress we are making in the multi-year transformation
of our business. As we move into fiscal 2020, we continue putting
the pieces in place to allow for our continued growth, including
the addition of talent to our team and the recent acquisition of
Schroff Technologies International. We remain focused on our
long-term growth plan of reaching $100 million in sales in the next
couple of years.”
Mr. Dawson and CFO Mark Turfler are scheduled to meet with
investors and present at the 12th Annual LD Micro Main Event
Investor Conference in Los Angeles, California on Tuesday, December
10, 2019 at 9:40 am Pacific time. The presentation will be webcast
live and will also be available for replay via the investor
relations section of the Company's website at
www.rfindustries.com.
The Company will release its final financial results for the
fourth quarter and fiscal year ended October 31, 2019 and host a
conference call and audio only webcast after market close on
December 18, 2019. The time and access details for the conference
call and webcast will be provided in advance of this date.
About RF Industries
RF Industries designs and manufactures a broad range of
interconnect products across diversified, growing markets including
wireless/wireline telecom, data communications and industrial. The
Company's products include RF connectors, coaxial cables, data
cables, wire harnesses, fiber optic cables, custom cabling,
energy-efficient cooling systems and integrated small cell
enclosures. The Company is headquartered in San Diego, California
with additional operations in Long Island, New York, Vista,
California, Milford, Connecticut and North Kingstown, Rhode Island.
Please visit the RF Industries website at www.rfindustries.com.
Contacts:
RF Industries, Ltd.
Mark Turfler
SVP/CFO
(858) 549‑6340
rfi@rfindustries.com
MKR Investor Relations Inc.
Todd Kehrli
Analyst/Investor Contact
(323) 468-2300
rfil@mkr-group.com
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