Tech Stock Alert: RF Industries (Nasdaq:RFIL) Gains on Record Third Quarter Results
Category: Investment, Technology
News about RF Industries
New York, NY - September 10, 2012 (Investorideas.com newswire) Investor Ideas, a global investor research portal for independent investors, issues a trading alert for tech stock RF Industries, Ltd. (NasdaqGM: RFIL), trading at $4.50, up 0.50 or 12.50% as of 1:47PM EDT on relatively light volume of 144,000 shares. The stock had a morning high of $4.98 following news of record third quarter results.
The stock broke through its 52- week range of $2.89 - 4.22 on today's news.
The Company today announced record quarterly sales and consolidated net income for the third quarter ended July 31, 2012. Net sales increased 51% to a quarterly record $7,472,000 compared to $4,948,000 in the same quarter last year. Consolidated net income was a quarterly record $735,000, or $0.10 per diluted share, compared to consolidated net income of $65,000, or $0.01 per diluted share in the same quarter last year. Consolidated net income for the third quarter last year was affected by non-recurring expenses of approximately $562,000 associated with the acquisition of Cables Unlimited and certain stockholder issues and activities.
RFI also announced that its Board declared a regular quarterly cash dividend of $0.05 per common share, payable October 15, 2012 to shareholders of record on September 30, 2012.
RFI manufactures, designs and distributes Radio Frequency (RF) connectors and cable assemblies, medical cabling products, RF wireless products, and fiber optic cable products. Coaxial connectors, cable assemblies and custom microwave RF connectors are used for Wi-Fi, PCS, radio, test instruments, computer networks, antenna devices, aerospace, OEM and Government agencies. Medical Cabling and Interconnector products are specialized custom electrical cabling products for the medical equipment monitoring market. RF Wireless products include digital data transceivers for industrial monitoring, wide area networks, GPS tracking and mobile wireless network solutions. Fiber optic cable, connector and harness products serve computer, aerospace, computer networking and specialty applications.
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