RF Industries Registers 97 Percent Sales Growth in Q4

By Benzinga
Benzinga
Benzinga
December 23, 2021 Updated: December 23, 2021

RF Industries Ltd reported fourth-quarter FY21 net sales growth of 97 percent year-on-year to $21.1 million, beating the Street view of $16.5 million.

Backlog was $33.3 million as of October 31, on Q4 bookings of $22.9 million.

Non-GAAP EPS of $0.10 missed the estimate of $0.12.

Gross profit margin contracted 250 bps Q/Q to 25.3 percent.

The operating income rose 180 percent Q/Q to $1.1 million. Adjusted EBITDA was $1.5 million, up 47 percent Q/Q.

RF Industries held $13.1 million in cash and equivalents.

Robert Dawson, the CEO, commented: “The team did a great job to overcome the headwinds presented by the current state of the supply chain and increases in material and shipping costs.”

Outlook

RF Industries sees FY22 sales of over $63 million.

By Anusuya Lahiri

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