RF Industries (NASDAQ: RFIL) reported Q1 EPS of ($0.04), versus $0.01 reported last year. Revenue for the quarter came in at $7 million, versus $6.9 million reported last year.

CEO CommentsJohnny Walker, President and CEO said, "First quarter sales, which is typically our seasonally weakest quarter, in combination with the continuing weakness in the wireless infrastructure market, negatively impacted sales and margins at the Connector and Cable Assembly and the Cables Unlimited divisions. We sold our Aviel Division, which had not materially contributed to our net sales or net income, on December 22, 2015 for a gain of approximately $35,000. We believe that the disposition of the non-core divisions will allow us to focus on developing additional markets for our primary line of products. We also believe that there are significant growth opportunities in the Distributed Antenna Systems (DAS) market, specifically in the Public Safety sector."

Financial Data; DividendsAt January 31, 2016, the Company reported working capital of $14.5 million, including cash and cash equivalents of $5.8 million, a current ratio of approximately 4.7-to-1, no long-term debt and stockholders' equity of $25.5 million. During the first quarter, the Company paid out cash dividends of $0.07 per share, or $610,000, to common stock shareholders.

At its March 3, 2016 meeting, the Company's Board of Directors declared a quarterly cash dividend of $0.02 per common share, payable April 15, 2016 to shareholders of record on March 31, 2016. All cash dividends are made at the discretion of our board of directors, subject to applicable laws, and depend on a number of factors, including our financial condition, results of operations, capital requirements, plans for future acquisitions, contractual restrictions, general business conditions and other factors that our board of directors may deem relevant.

On March 3, 2016 the Board of Directors also approved the closure of the Company's Bioconnect division which comprised the entire operations of the Company's Medical Cabling and Interconnector segment. The closure is part of the Company's on-going plan to close or dispose of underperforming divisions that are not part of the Company's core operations.

For earnings history and earnings-related data on RF Industries (RFIL) click here.