RFI Reports Record ProfitMonday, June 11, 2012
RF Industries Ltd., the San Diego maker and distributor of radio frequency cable connectors and assemblies, had second quarter net profit of $602,000, a record, compared with net profit of $407,000 for the like quarter last year, the company announced June 7.
Net sales for the company also hit a record and increased 52 percent from the prior year’s second quarter at $6.7 million. The number included sales of $1.8 million from subsidiary Cables Unlimited Inc., which RFI acquired in June 2011.
RFI said June 8 that Cables Unlimited recently received orders totaling $1.4 million for its new cabling solution that will be used by a major wireless carrier.
For the first six months of RFI’s fiscal year that ended April 30, it reported net income of $720,000, compared to $758,000 in net income for the first half of the prior fiscal year.
Net sales for the first half were $12.2 million, up 43 percent from the same period of the prior fiscal year.
Traded under RFIL on Nasdaq, shares on June 8 closed up 47 cents or 14 percent from the prior day’s closing price. Its 52 week range is $2.89 to $4.61.
— Mike Allen