Richardson Electronics, Ltd. reported net sales of $53.8 million for the third quarter of fiscal year 2025, an increase of 2.7% from $52.4 million in the prior year's third quarter. This marks the third consecutive quarter of year-over-year net sales growth. Semiconductor wafer fab sales surged by 139% year-over-year, and Canvys sales increased by 39.5% due to improved market conditions in North America.
The Power and Microwave Technologies (PMT) segment's sales increased by $2.1 million, or 6.6%, primarily from higher demand from semiconductor wafer fab customers. Green Energy Solutions (GES) sales decreased by $2.2 million, or 19.4%, due to the project-based nature of the business and timing of wind turbine battery module sales. Healthcare sales decreased by $1.0 million, or 32.3%, following the sale of the majority of Healthcare assets in February 2025.
The company reported a GAAP operating loss of $2.7 million, which included a one-time $4.9 million charge related to the loss on disposal of Healthcare assets. Excluding this charge, non-GAAP operating income rose to $2.2 million, up from $1.0 million in the prior year. Richardson Electronics ended the quarter with $36.7 million in cash and equivalents, bolstered by $8.2 million from the Healthcare asset sale, and generated positive operating cash flow for the fourth consecutive quarter.
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.