Richardson Electronics reported Q2 FY25 net sales up 12.1%, driven by significant growth in green energy solutions.
Quiver AI Summary
Richardson Electronics, Ltd. reported significant growth in its Q2 FY25 financial results, with net sales increasing 12.1% year-over-year to $49.5 million. The company's Green Energy Solutions (GES) segment saw remarkable growth of 129%, primarily driven by higher sales of wind turbine battery modules. Richardson Electronics posted a positive operating cash flow for the third consecutive quarter, ending with $26.6 million in cash and no debt. Although some segments, like Healthcare and Canvys, experienced declines, management remains optimistic about continuing year-over-year sales growth and improved profitability for the fiscal year. The Board of Directors also declared a quarterly cash dividend of $0.06 per share.
Potential Positives
- Q2 FY25 net sales increased by 12.1% year-over-year, indicating strong demand and positive market conditions.
- Significant sales growth was noted in Green Energy Solutions (GES), with a remarkable 129% increase compared to Q2 FY24.
- The company achieved positive operating cash flow for the third consecutive quarter, ending the period with $26.6 million in cash and no debt, enhancing financial stability.
- The Board of Directors declared a $0.06 quarterly cash dividend per share, reflecting confidence in future profitability and commitment to returning value to shareholders.
Potential Negatives
- Sales in the Healthcare segment experienced a significant year-over-year decline of 22.8%, indicating potential weaknesses in that market.
- The Canvys segment also reported a year-over-year sales decline of 6.0%, reflecting challenging market conditions in Europe.
- Despite positive cash flow and overall sales growth, the company still reported a net loss of $0.8 million for the quarter, although it was an improvement from the previous year.
FAQ
What are Richardson Electronics' Q2 FY25 sales figures?
Net sales for Q2 FY25 were $49.5 million, a 12.1% increase YoY from $44.1 million.
How much did Green Energy Solutions grow in Q2 FY25?
Green Energy Solutions (GES) sales increased by 129% from Q2 FY24, totaling $3.4 million more.
What is the current cash position of Richardson Electronics?
The company ended Q2 with $26.6 million in cash and cash equivalents and no debt.
When will the dividend be paid to shareholders?
The quarterly cash dividend of $0.06 per share will be paid on February 26, 2025.
What are the future expectations for Richardson Electronics?
Management expects year-over-year sales growth and higher profitability for FY25, supported by backlog growth.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RELL Insider Trading Activity
$RELL insiders have traded $RELL stock on the open market 9 times in the past 6 months. Of those trades, 8 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $RELL stock by insiders over the last 6 months:
- JAMES BENHAM has traded it 2 times. They made 2 purchases, buying 5,000 shares and 0 sales.
- PAUL J PLANTE purchased 3,823 shares.
- KENNETH HALVERSON has traded it 3 times. They made 3 purchases, buying 4,200 shares and 0 sales.
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- KATHLEEN MCNALLY (EVP Global Supply Chain) sold 7,940 shares.
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$RELL Hedge Fund Activity
We have seen 38 institutional investors add shares of $RELL stock to their portfolio, and 30 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- AZARIAS CAPITAL MANAGEMENT, L.P. added 129,838 shares (+43.3%) to their portfolio in Q3 2024
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Full Release
Q2 FY25 net sales increased 12.1% YoY, the second consecutive quarterly YoY increase
Green Energy Solutions (GES) net sales increased 129% from Q2 FY24
Richardson Electronics ended Q2 with positive operating cash flow for the third consecutive quarter, $26.6 million in cash and cash equivalents and no debt
Management expects YoY sales growth and higher profitability for FY25
LAFOX, Ill., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL) today reported financial results for its second quarter ended November 30, 2024. The Company also announced that its Board of Directors declared a $0.06 per share quarterly cash dividend.
“Our second quarter results included new program wins and continued improvement in demand across our GES and PMT markets. These trends drove a 129%, or $3.4 million year-over-year increase in GES sales and an 85% increase in sales to our semi-conductor wafer fab customers. While Canvys sales declined by $0.4 million year-over-year, we expect a pick-up in Canvys sales for the remainder of fiscal 2025," said Edward J. Richardson, Chairman, CEO, and President.
“We generated positive operating cash flow for the third straight quarter, ending the quarter with no debt and $26.6 million in cash and cash equivalents. Our strong balance sheet allows us to support current business needs and make investments in our long-term growth strategies. We continue to expect higher year-over-year sales and profitability for the full fiscal year supported by sequential backlog growth,” concluded Mr. Richardson.
Second Quarter Results
Net sales for the second quarter of fiscal 2025 were $49.5 million, a 12.1% increase from $44.1 million in the prior year’s second quarter.
Year-over-year net sales growth for the second quarter of fiscal 2025 was due to higher sales in GES and the Power and Microwave Technologies Group (PMT). GES sales increased $3.4 million, or 129.0% from last year’s second quarter driven by higher sales of wind turbine battery modules. PMT sales increased $3.1 million, or 9.9% from the second quarter of fiscal 2024 primarily because of higher demand from the Company’s semiconductor wafer fab customers.
Sales growth for the second quarter of fiscal 2025 was partially offset by a $0.7 million, or 22.8% decrease in Healthcare sales due to lower CT tube, system and parts demand. Canvys sales also declined year-over-year by $0.4 million or 6.0%, reflecting challenging market conditions in Europe.
Backlog totaled $142.6 million at the end of the second quarter of fiscal 2025 versus $137.4 million at the end of the first quarter of fiscal 2025. The sequential increase was primarily in GES with a small increase in Canvys. The Company’s sales pipeline remains robust, and while the timing of orders can vary quarter-to-quarter, management expects backlog to continue to strengthen in fiscal 2025.
Gross margin for the second quarter was 31.0% of net sales compared to 28.4% during the second quarter of fiscal 2024. Richardson Healthcare’s gross margin improved to 35.7%, up from 14.8%, as a result of an improved product mix and manufacturing efficiencies. GES gross margin increased to 32.0% from 29.2% due to product mix. PMT also posted an increase in gross margin to 30.3%, compared to 28.5%, due to favorable product mix. Canvys gross margin decreased to 31.7% from 33.5% primarily due to higher freight costs.
Operating expenses were $16.0 million, compared to $14.5 million in the second quarter of fiscal 2024. The increase in operating expenses resulted from higher employee compensation expenses, including incentives expense tied to sales growth.
Operating loss was $0.7 million for the second quarter of fiscal 2025, compared to an operating loss of $2.0 million in the prior year’s second quarter. Other expense for the second quarter of fiscal 2025, including interest income and foreign exchange, was $0.4 million, compared to other expense of $0.3 million in the second quarter of fiscal 2024.
Income tax benefit was $0.3 million, or an effective tax rate of approximately 28.8%, versus an income tax benefit of $0.5 million, or an effective tax rate of 21.6% in the prior year’s second quarter.
Net loss for the second quarter of fiscal 2025 was $0.8 million, compared to a net loss of $1.8 million in the second quarter of fiscal 2024. Loss per common share (diluted) was $0.05 in the second quarter of fiscal 2025 compared to loss per common share (diluted) of $0.13 in the second quarter of fiscal 2024.
EBITDA for the second quarter of fiscal 2025 was approximately breakeven versus negative $1.2 million in the prior year’s second quarter.
The Company improved its solid financial position and had cash and cash equivalents of $26.6 million as of November 30, 2024, versus $23.0 million as of August 31, 2024. Cash generated during the second quarter of fiscal 2025 primarily related to lower accounts receivable. The Company invested $0.5 million during the quarter in capital expenditures related to its facilities and IT systems, versus $1.5 million during last year’s second quarter.
Financial Summary for the Six Months Ended November 30, 2024
Net sales for the first six months of fiscal 2025 were $103.2 million, an increase of 6.7%, compared to net sales of $96.7 million during the first six months of fiscal 2024. Sales increased by $1.5 million or 2.3% for PMT, $7.1 million or 100.8% for GES and $0.6 million or 10.5% for Healthcare offset by a decrease of $2.7 million or 15.7% for Canvys.
Gross profit increased to $31.8 million during the first six months of fiscal 2025, compared to $29.8 million during the first six months of fiscal 2024. As a percentage of net sales, gross margin was 30.8% of net sales during the first six months of fiscal 2025, the same as during the first six months of fiscal 2024.
Operating expenses increased to $32.1 million for the first six months of fiscal 2025, compared to $30.3 million for the first six months of fiscal 2024. The increase in operating expenses resulted primarily from higher employee compensation expenses.
Operating loss during the first six months of fiscal 2025 was $0.4 million, compared to operating loss of $0.5 million during the first six months of fiscal 2024.
Other expense, for the first six months of fiscal 2025, including interest income and foreign exchange, was $0.1 million, as compared to other expense of $0.1 million in the first six months of fiscal 2024.
The income tax benefit was $0.2 million for the first six months of fiscal 2025 compared to an income tax benefit of $0.1 million during the first six months of fiscal 2024.
Net loss for the first six months of fiscal 2025 was $0.2 million, versus a net loss of $0.6 million during the first six months of fiscal 2024. Net loss per common share (diluted) was $0.01 for the first six months of fiscal 2025 compared to $0.04 loss per common share (diluted) for the first six months of fiscal 2024.
CASH DIVIDEND DECLARED
The Board of Directors of Richardson Electronics declared a $0.06 quarterly cash dividend per share to holders of common stock and a $0.054 cash dividend per share to holders of Class B common stock. The dividend will be payable on February 26, 2025, to common stockholders of record as of February 7, 2025.
NON-GAAP FINANCIAL MEASURE
In addition to the results reported in accordance with generally accepted accounting principles in the United States (GAAP) included throughout this press release, the Company has provided information regarding “EBITDA” (a “non-GAAP financial measure”). This non-GAAP financial measure reflects earnings before interest, income tax, depreciation and amortization expenses. Detailed reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in this press release.
Management believes that the disclosure of this non-GAAP financial measure provides useful information to investors in assessing the Company’s financial performance excluding items that are not considered by the Company to be indicative of the Company’s ongoing results. Our management uses this non-GAAP financial measure along with the most directly comparable GAAP financial measure in evaluating our financial performance and when planning, forecasting and analyzing future periods. The non-GAAP financial measure presented herein, as determined and presented by the Company, may not be comparable to related or similarly titled measures reported by other companies. The non-GAAP financial measure incorporated herein is not intended to be used as a substitute for the related GAAP measurements. The non-GAAP financial measure should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP.
CONFERENCE CALL INFORMATION
The Company will host a conference call and question-and-answer session on Wednesday, January 8, 2025, at 9:00 a.m. Central Time, to discuss its second quarter fiscal-year 2025 results.
Participants may register for the call
here
. While not required, it is recommended you join 10 minutes prior to the event start. A replay of the call will be available beginning at 1:00 p.m. Central Time on January 9, 2025, for seven days. Registration instructions are also on our website at
www.rell.com
.
In addition, the webcast link is available
here
.
FORWARD-LOOKING STATEMENTS
This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on August 5, 2024, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.
ABOUT RICHARDSON ELECTRONICS, LTD.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. Approximately 50% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at
www.rell.com
.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
Richardson Electronics, Ltd. Consolidated Balance Sheets (in thousands, except per share amounts) | ||||||||
Unaudited | Audited | |||||||
November 30, 2024 | June 1, 2024 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 26,635 | $ | 24,263 | ||||
Accounts receivable, less allowance for credit losses of $373 and $323, respectively | 25,765 | 24,845 | ||||||
Inventories, net | 110,687 | 110,149 | ||||||
Prepaid expenses and other assets | 2,441 | 2,397 | ||||||
Total current assets | 165,528 | 161,654 | ||||||
Non-current assets: | ||||||||
Property, plant and equipment, net | 20,166 | 20,681 | ||||||
Intangible assets, net | 1,521 | 1,641 | ||||||
Right of use lease assets | 2,321 | 2,760 | ||||||
Deferred income tax assets | 5,566 | 5,500 | ||||||
Other non-current assets | 123 | 209 | ||||||
Total non-current assets | 29,697 | 30,791 | ||||||
Total assets | $ | 195,225 | $ | 192,445 | ||||
Liabilities | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 19,978 | $ | 15,458 | ||||
Accrued liabilities | 15,633 | 15,404 | ||||||
Lease liabilities current | 1,075 | 1,169 | ||||||
Total current liabilities | 36,686 | 32,031 | ||||||
Non-current liabilities: | ||||||||
Deferred income tax liabilities | 75 | 90 | ||||||
Lease liabilities non-current | 1,246 | 1,591 | ||||||
Other non-current liabilities | 1,027 | 781 | ||||||
Total non-current liabilities | 2,348 | 2,462 | ||||||
Total liabilities | 39,034 | 34,493 | ||||||
Stockholders’ Equity | ||||||||
Common stock, $0.05 par value; 12,359 and 12,254 shares issued and outstanding on November 30, 2024 and June 1, 2024, respectively | 618 | 613 | ||||||
Class B common stock, convertible, $0.05 par value; 2,049 shares issued and outstanding on November 30, 2024 and June 1, 2024 | 102 | 102 | ||||||
Preferred stock, $1.00 par value, no shares issued | — | — | ||||||
Additional paid-in-capital | 73,793 | 72,744 | ||||||
Retained earnings | 82,026 | 83,729 | ||||||
Accumulated other comprehensive (loss) income | (348 | ) | 764 | |||||
Total stockholders' equity | 156,191 | 157,952 | ||||||
Total liabilities and stockholders’ equity | $ | 195,225 | $ | 192,445 | ||||
Richardson Electronics, Ltd. Unaudited Consolidated Statements of Comprehensive (Loss) Income (in thousands, except per share amounts) | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
November 30, 2024 | December 2, 2023 | November 30, 2024 | December 2, 2023 | |||||||||||||
Net sales | $ | 49,491 | $ | 44,130 | $ | 103,216 | $ | 96,711 | ||||||||
Cost of sales, exclusive of depreciation and amortization | 34,165 | 31,588 | 71,464 | 66,905 | ||||||||||||
Gross profit | 15,326 | 12,542 | 31,752 | 29,806 | ||||||||||||
Selling, general and administrative expenses, inclusive of depreciation and amortization | 15,995 | 14,488 | 32,107 | 30,280 | ||||||||||||
(Gain) loss on disposal of assets | (2 | ) | 70 | (4 | ) | 70 | ||||||||||
Operating loss | (667 | ) | (2,016 | ) | (351 | ) | (544 | ) | ||||||||
Other expense (income): | ||||||||||||||||
Interest income | (45 | ) | (86 | ) | (103 | ) | (157 | ) | ||||||||
Foreign exchange loss | 437 | 343 | 160 | 246 | ||||||||||||
Other, net | (4 | ) | 18 | (1 | ) | 50 | ||||||||||
Total other expense | 388 | 275 | 56 | 139 | ||||||||||||
Loss before income taxes | (1,055 | ) | (2,291 | ) | (407 | ) | (683 | ) | ||||||||
Income tax benefit | (304 | ) | (494 | ) | (246 | ) | (113 | ) | ||||||||
Net loss | (751 | ) | (1,797 | ) | (161 | ) | (570 | ) | ||||||||
Foreign currency translation (loss) gain, net of tax | (1,748 | ) | 631 | (1,112 | ) | 590 | ||||||||||
Comprehensive (loss) income | $ | (2,499 | ) | $ | (1,166 | ) | $ | (1,273 | ) | $ | 20 | |||||
Net loss per share: | ||||||||||||||||
Common shares - Basic | $ | (0.05 | ) | $ | (0.13 | ) | $ | (0.01 | ) | $ | (0.04 | ) | ||||
Class B common shares - Basic | (0.05 | ) | (0.12 | ) | (0.01 | ) | (0.04 | ) | ||||||||
Common shares - Diluted | (0.05 | ) | (0.13 | ) | (0.01 | ) | (0.04 | ) | ||||||||
Class B common shares - Diluted | (0.05 | ) | (0.12 | ) | (0.01 | ) | (0.04 | ) | ||||||||
Weighted average number of shares: | ||||||||||||||||
Common shares – Basic | 12,315 | 12,226 | 12,258 | 12,198 | ||||||||||||
Class B common shares – Basic | 2,049 | 2,052 | 2,049 | 2,052 | ||||||||||||
Common shares – Diluted | 12,315 | 12,226 | 12,258 | 12,198 | ||||||||||||
Class B common shares – Diluted | 2,049 | 2,052 | 2,049 | 2,052 | ||||||||||||
Richardson Electronics, Ltd. Unaudited Consolidated Statements of Cash Flows (in thousands) | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
November 30, 2024 | December 2, 2023 | November 30, 2024 | December 2, 2023 | |||||||||||||
Operating activities: | ||||||||||||||||
Net loss | $ | (751 | ) | $ | (1,797 | ) | $ | (161 | ) | $ | (570 | ) | ||||
Adjustments to reconcile net loss to cash provided by operating activities: | ||||||||||||||||
Unrealized foreign currency loss (gain) | 141 | (268 | ) | (241 | ) | (305 | ) | |||||||||
Depreciation and amortization | 1,015 | 1,116 | 2,059 | 2,114 | ||||||||||||
Inventory provisions | 84 | 192 | 223 | 277 | ||||||||||||
Share-based compensation expense | 313 | 283 | 906 | 766 | ||||||||||||
(Gain) loss on disposal of assets | (2 | ) | 70 | (4 | ) | 70 | ||||||||||
Deferred income taxes | (21 | ) | 51 | (79 | ) | 46 | ||||||||||
Change in assets and liabilities: | ||||||||||||||||
Accounts receivable | 4,721 | 1,790 | (1,137 | ) | 6,252 | |||||||||||
Inventories | (1,617 | ) | (3,069 | ) | (1,741 | ) | (6,220 | ) | ||||||||
Prepaid expenses and other assets | 67 | (618 | ) | 38 | (209 | ) | ||||||||||
Accounts payable | 500 | 1,233 | 4,664 | (1,132 | ) | |||||||||||
Accrued liabilities | 641 | 1,502 | 546 | 378 | ||||||||||||
Other | 374 | 315 | 804 | 348 | ||||||||||||
Net cash provided by operating activities | 5,465 | 800 | 5,877 | 1,815 | ||||||||||||
Investing activities: | ||||||||||||||||
Capital expenditures | (517 | ) | (1,515 | ) | (1,443 | ) | (2,656 | ) | ||||||||
Proceeds from sale of property, plant & equipment | — | — | 7 | — | ||||||||||||
Net cash used in investing activities | (517 | ) | (1,515 | ) | (1,436 | ) | (2,656 | ) | ||||||||
Financing activities: | ||||||||||||||||
Proceeds from issuance of common stock | 163 | 15 | 307 | 342 | ||||||||||||
Cash dividends paid on common and Class B common stock | (853 | ) | (845 | ) | (1,703 | ) | (1,688 | ) | ||||||||
Proceeds from revolving credit facility | — | — | 1,000 | — | ||||||||||||
Repayment of revolving credit facility | — | — | (1,000 | ) | — | |||||||||||
Other | 3 | — | (159 | ) | (119 | ) | ||||||||||
Net cash used in financing activities | (687 | ) | (830 | ) | (1,555 | ) | (1,465 | ) | ||||||||
Effect of exchange rate changes on cash and cash equivalents | (661 | ) | 190 | (514 | ) | 94 | ||||||||||
Increase (decrease) in cash and cash equivalents | 3,600 | (1,355 | ) | 2,372 | (2,212 | ) | ||||||||||
Cash and cash equivalents at beginning of period | 23,035 | 24,124 | 24,263 | 24,981 | ||||||||||||
Cash and cash equivalents at end of period | $ | 26,635 | $ | 22,769 | $ | 26,635 | $ | 22,769 | ||||||||
Richardson Electronics, Ltd. Unaudited Net Sales and Gross Profit For the Second Quarter and First Six Months of Fiscal 2025 and 2024 ($ in thousands) | ||||||||||||
By Strategic Business Unit | ||||||||||||
Net Sales | ||||||||||||
Three Months Ended | FY25 vs. FY24 | |||||||||||
November 30, 2024 | December 2, 2023 | % Change | ||||||||||
PMT | $ | 34,397 | $ | 31,292 | 9.9 | % | ||||||
GES | 5,974 | 2,609 | 129.0 | % | ||||||||
Canvys | 6,851 | 7,291 | -6.0 | % | ||||||||
Healthcare | 2,269 | 2,938 | -22.8 | % | ||||||||
Total | $ | 49,491 | $ | 44,130 | 12.1 | % | ||||||
Six Months Ended | FY25 vs. FY24 | |||||||||||
November 30, 2024 | December 2, 2023 | % Change | ||||||||||
PMT | $ | 68,599 | $ | 67,036 | 2.3 | % | ||||||
GES | 14,060 | 7,003 | 100.8 | % | ||||||||
Canvys | 14,489 | 17,180 | -15.7 | % | ||||||||
Healthcare | 6,068 | 5,492 | 10.5 | % | ||||||||
Total | $ | 103,216 | $ | 96,711 | 6.7 | % | ||||||
Gross Profit | ||||||||||||||||
Three Months Ended | ||||||||||||||||
November 30, 2024 | % of Net Sales | December 2, 2023 | % of Net Sales | |||||||||||||
PMT | $ | 10,430 | 30.3 | % | $ | 8,905 | 28.5 | % | ||||||||
GES | 1,914 | 32.0 | % | 761 | 29.2 | % | ||||||||||
Canvys | 2,171 | 31.7 | % | 2,440 | 33.5 | % | ||||||||||
Healthcare | 811 | 35.7 | % | 436 | 14.8 | % | ||||||||||
Total | $ | 15,326 | 31.0 | % | $ | 12,542 | 28.4 | % | ||||||||
Six Months Ended | ||||||||||||||||
November 30, 2024 | % of Net Sales | December 2, 2023 | % of Net Sales | |||||||||||||
PMT | $ | 20,632 | 30.1 | % | $ | 20,416 | 30.5 | % | ||||||||
GES | 4,288 | 30.5 | % | 2,341 | 33.4 | % | ||||||||||
Canvys | 4,792 | 33.1 | % | 5,805 | 33.8 | % | ||||||||||
Healthcare | 2,040 | 33.6 | % | 1,244 | 22.7 | % | ||||||||||
Total | $ | 31,752 | 30.8 | % | $ | 29,806 | 30.8 | % | ||||||||
Richardson Electronics, Ltd. Unaudited Reconciliation Between GAAP and Non-GAAP Financial Measures For the Second Quarter and First Six months of Fiscal 2025 and 2024 ($ in thousands) | ||||||||
EBITDA | ||||||||
Three Months Ended | ||||||||
November 30, 2024 | December 2, 2023 | |||||||
Net loss | $ | (751 | ) | $ | (1,797 | ) | ||
Income tax benefit | (304 | ) | (494 | ) | ||||
Depreciation & amortization | 1,015 | 1,116 | ||||||
EBITDA | $ | (40 | ) | $ | (1,175 | ) | ||
Six Months Ended | ||||||||
November 30, 2024 | December 2, 2023 | |||||||
Net loss | $ | (161 | ) | $ | (570 | ) | ||
Income tax benefit | (246 | ) | (113 | ) | ||||
Depreciation & amortization | 2,059 | 2,114 | ||||||
EBITDA | $ | 1,652 | $ | 1,431 | ||||
For Details Contact: | 40W267 Keslinger Road | |
Edward J. Richardson | Robert J. Ben | PO BOX 393 |
Chairman and CEO | EVP & CFO | LaFox, IL 60147-0393 USA |
Phone: (630) 208-2320 | (630) 208-2203 | (630) 208-2200 | Fax: (630) 208-2550 |
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
