RF Industries Reports $1.2M in Net Income for Q4Tuesday, January 8, 2013
RF Industries Ltd., the San Diego maker and distributor of radio frequency connectors and cable assemblies, reported unaudited fourth quarter net income of $1.2 million, compared with a net loss of $50,000 for the like quarter of the 2011 fiscal year.
Revenue for the quarter was $10.5 million, compared with $6 million for the like quarter of the prior fiscal year.
For the full fiscal year that ended Oct. 31, RFI reported unaudited net income of $2.6 million, compared with $773,000 for the 2011 fiscal year.
Revenue for the full year was $30.2 million, compared with $19.4 million in FY 2011.
CEO Howard Hill called 2012 an exceptional year and noted the company’s strong performance over all its divisions. Based on the company’s strong results in the first two months of the 2013 first quarter, it points to both strong growth and profitability.
Shares of RFI, traded on Nasdaq under RFIL, soared to a new high in midday trading Jan. 7 to $5.50, up by about $1. The previous 52-week high was $4.98.
— Mike Allen