San Diego Business Journal

RFI Reports Record Profit

Monday, 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