Q4 2024 Richardson Electronics Ltd Earnings Call Transcript
Key Points
- Richardson Electronics Ltd (RELL) achieved a significant milestone in the number of wind turbine generator modules sold.
- The company generated $7.2 million in operating cash flow during the fourth quarter and ended the year with no debt and $24.3 million in cash and cash equivalents.
- Consolidated gross margin for the fourth quarter was 31.1% of net sales, a significant improvement compared to 27.9% in last year's fourth quarter.
- Richardson Healthcare sales increased by $0.7 million or 24.3% compared to the fourth quarter of fiscal 2023.
- The company has a strong backlog of $147.8 million at the end of the fourth quarter of fiscal 2024, providing a solid base for future growth.
- Net sales for the fourth quarter of fiscal 2024 were $47.4 million, compared to $58.8 million in the prior year's fourth quarter, indicating a decline.
- Sales for Green Energy Solutions (GES) declined by $10.6 million from last year's fourth quarter.
- Operating expenses were $14.8 million for the fourth quarter of fiscal 2024, compared to $15.0 million in the fourth quarter of fiscal 2023, indicating a slight decrease but still high.
- The company reported an operating loss of $0.1 million for the fourth quarter of fiscal 2024 versus operating income of $1.4 million in the fourth quarter of last year.
- Net loss for the fourth quarter of fiscal 2024 was $0.1 million compared to net income of $4.1 million in the fourth quarter of fiscal 2023.
Ladies and gentlemen, thank you for standing by. Welcome to Richardson Electronics Earnings Call for the Fourth Quarter of Fiscal Year 2024. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. (Operator Instructions) Please be advised that today's conference is being recorded.
I would like now to turn the conference over to your speaker today, Ed Richardson, Chief Executive Officer. Please go ahead.
Good morning, and welcome to Richardson Electronics Conference Call for the Fourth Quarter of Fiscal Year 2024. Joining me today are Robert Ben, Chief Financial Officer; Wendy Diddell, Chief Operating Officer and General Manager for Richardson Healthcare; Greg Peloquin, General Manager of our Power and Microwave Technologies Group, which includes Green Energy Solutions; and Jens Ruppert, General Manager of Canvys. As a reminder, this call is being recorded and will be
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