Richardson Electronics (RELL) Misses Q2 EPS by 8c

Richardson Electronics (NASDAQ: RELL) reported Q2 EPS of ($0.18), $0.08 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $34.1 million versus the consensus estimate of $37.6 million.

“With half of the fiscal year behind us and significant investments in our management team and growth initiatives, everyone is focused on sales growth,” said Edward J. Richardson, Chairman, Chief Executive Officer, and President. “Since the end of second quarter of fiscal 2016, backlog has increased appreciably with several million dollar orders that will ship this fiscal year. In addition, we continue to explore acquisitions that are in line with our initiatives, but where we can’t find suitable targets, we will invest organically,” Mr. Richardson concluded.

For earnings history and earnings-related data on Richardson Electronics (RELL) click here.

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