San Diego Business Journal

RF Industries Reports Q4 Revenue of $8.4 Million

By Mike Allen Sunday, January 5, 2014

RF Industries Ltd. reported unaudited fourth quarter revenue of $8.4 million compared with $9.3 million for the like quarter of last year.

Preliminary unaudited net income for the fourth quarter that ended Oct. 31 was $300,000, compared with $1.2 million in net income for the like period of 2012.

For the full fiscal 2013 year, RFI, a San Diego maker of radio frequency connectors and coaxial cable assemblies, reported unaudited revenue of $36.6 million, up 32 percent from the prior fiscal year. Preliminary unaudited income from continuing operations was $5 million, compared with $2.6 million in income from continuing operations for the prior fiscal year.

Last year, RFI sold off two divisions, RF Neulink and RadioMobile, recording an unaudited loss from discontinued operations, net of tax, of $1.1 million.

CEO Howard Hill said for most last year the company saw increased demand for its products across all end markets, resulting in solid revenue growth for the year.

Because of a slowing of orders in RFI’s Cables Unlimited division, the company expects a decline in revenue and income on a consolidated basis in the 2014 first quarter compared with both the fourth quarter and the first quarter of FY 2013, Hill said.