RF Industries Ltd., which makes cable assemblies and connectors for electronics, reported a first quarter net loss of $353,000, or 4 cents per share, on net sales of $7 million.
The company said the net loss was primarily the result of the operating loss incurred by the company’s Connectors and Cable Assembly, Cables Unlimited and Bioconnect divisions and — to a lesser extent — a decrease in gross margins across all divisions. The first quarter is seasonally the weakest for the company, CEO Johnny Walker said.
In the first quarter of 2015, RF Industries (Nasdaq: RFIL) reported net income of $65,000, or a penny per share, on net sales of $6.9 million.
In its March 21 announcement, the company also said that its board declared a dividend of 2 cents per share, payable April 15 to shareholders of record on March 31.