RF Industries Ltd. Announces Preliminary Unaudited Earnings Results for the Fourth Quarter and Year Ended October 31, 2013; Provides Earnings Guidance for the First Quarter of 2014
January 03, 2014 at 01:00 pm
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RF Industries Ltd. announced preliminary unaudited earnings results for the fiscal fourth quarter and year ended October 31, 2013. For the quarter, revenues decreased $0.9 million, or 9%, to $8.4 million as compared to $9.3 million in the same quarter of fiscal 2012. Income from continuing operations was $0.9 million, or $0.12 per basic and $0.11 per diluted share, compared to $0.9 million, or $0.13 per basic and $0.12 per diluted share in the fourth quarter of 2012. Net income was $0.3 million, or $0.03 per basic and diluted share, compared to $1.2 million, or $0.17 per basic and $0.15 per diluted share in the fourth quarter of 2012.
For the year, revenues increased 32% to $36.6 million as compared to revenues of $27.7 million in fiscal 2012. Income from continuing operations was $5.0 million or $0.65 per basic and $0.59 per diluted share as compared to $2.6 million, or $0.38 per basic and $0.34 per diluted share in the same prior year period. The company saw increased demand for offerings across all end markets, which resulted in solid revenue growth for the year.
The company provided earnings guidance for the first quarter of 2014. The company anticipates a corresponding material decline in revenues and income from continuing operations on a consolidated basis in the first quarter, both sequentially and as compared to the first quarter of 2013.
RF Industries, Ltd. is a manufacturer and marketer of interconnect products and systems. The Companyâs segments include RF Connector and Cable Assembly (RF Connector) and Custom Cabling Manufacturing and Assembly (Custom Cabling). The RF Connector segment designs, manufactures, markets and distributes a range of RF connector, adapter, coupler, divider, and cable products, including coaxial passives and cable assemblies that are used in telecommunications and information technology, original equipment manufacturers markets and other end markets. The Custom Cabling segment designs, manufactures, markets and distributes custom copper and fiber cable assemblies, complex hybrid fiber optic and power solution cables, electromechanical wiring harnesses, wiring harnesses for a range of applications in a diverse set of end markets, energy-efficient cooling systems for wireless base stations and remote equipment shelters and custom designed, pole-ready 5G small cell integrated enclosures.
RF Industries Ltd. Announces Preliminary Unaudited Earnings Results for the Fourth Quarter and Year Ended October 31, 2013; Provides Earnings Guidance for the First Quarter of 2014