Richardson Electronics, Ltd. reported net sales of $49.5 million for the second quarter of fiscal year 2025, marking a 12.1% increase from $44.1 million in the prior year's second quarter. This represents the second consecutive quarter of year-over-year net sales growth for the company. The growth was primarily driven by a 129.0% increase in Green Energy Solutions (GES) sales, which rose by $3.4 million due to higher sales of wind turbine battery modules.
The Power and Microwave Technologies (PMT) segment also saw significant growth, with sales increasing by $3.1 million, or 9.9%, primarily due to higher demand from semiconductor wafer fab customers, where sales increased by 85% year-over-year. However, Healthcare sales decreased by $0.7 million, or 22.8%, and Canvys sales declined by $0.4 million, or 6.0%, reflecting challenging market conditions in Europe.
Gross margin for the quarter improved to 31.0% of net sales, up from 28.4% in the prior year, driven by improved product mix and manufacturing efficiencies in Healthcare and GES. The company reported a net loss of $0.8 million, an improvement from a net loss of $1.8 million in the prior year, and generated positive operating cash flow for the third consecutive quarter, ending with $26.6 million in cash and no debt. Backlog increased sequentially to $142.6 million, primarily in GES.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.