RF Industries, the San Diego maker of cable assemblies and radio frequency connectors, said it sold its RF Neulink division to Raveon Technologies Corp. for an undisclosed price.
The company (Nasdaq: RFIL) said the sale will allow it to focus on its profitable, core operations. The division contributed less than 1 percent to RFI’s total sales for the six months ended April 30, and did not contribute meaningfully to RFI’s growth or profitability, the company said.
RFI, which has had 19 consecutive years of profitability, reported net income of $1.2 million on revenue of $9.2 million for the most recent quarter ended April 30.
— Mike Allen