RF Industries Ltd. Reports Net Income of $1.2M for Q2Friday, June 14, 2013
RF Industries Ltd., a San Diego designer and maker of radio frequency connectors and cable assemblies, reported fiscal 2013 second quarter ended April 30 net income of $1.2 million, up 96 percent from the like quarter of the prior fiscal year.
Revenue came in at $9.2 million, up 37 percent from the like quarter of FY 2012, and a new record.
CEO Howard Hill said the growth was driven by customized connectivity solutions for wireless infrastructure.
For the six months, RFI reported net sales of $19.7 million, up 61 percent from the like period of last year. Net income increased 270 percent to $2.7 million.
The company, whose stock is traded on the Nasdaq exchange under the ticker RFIL, previously announced a regular quarterly cash dividend of 7 cents per common share payable July 15 to shareholders of record as of June 30.
— SDBJ Staff Report