R F Industries Ltd. Files 2024 10-K Report

TL;DR

RF Industries filed its 2024 10-K. Check financials for the electronic connector maker.

AI Summary

R F Industries Ltd. filed its 2024 10-K report for the fiscal year ending October 31, 2024. The company, formerly Celltronics Inc., is incorporated in Nevada and operates in the electronic connectors industry. Its principal business address is in San Diego, California.

Why It Matters

This filing provides a comprehensive overview of R F Industries Ltd.'s financial performance and business operations for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high-risk level.

Key Players & Entities

• R F INDUSTRIES LTD (company) — Filer
• CELLTRONICS INC (company) — Former Company Name
• 16868 VIA DEL CAMPO COURT, SUITE 200 (location) — Business and Mail Address
• SAN DIEGO, CA (location) — Business and Mail City/State
• NV (location) — State of Incorporation
• 2024-10-31 (date) — Fiscal Year End
• 20250121 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share RFIL NASDAQ Glo
• $3.0 million — ving Credit Facility") in the amount of $3.0 million and a $17.0 million term loan (the "Bof
• $17.0 million — y") in the amount of $3.0 million and a $17.0 million term loan (the "BofA Term Loan", and to
• $600,000 — consolidated minimum EBITDA of at least $600,000 for the discrete quarter ended January
• $4.0 m — the BofA Revolving Credit Facility) of $4.0 million, and (b) from September 22, 2023
• $4.0 million — , liquidity equal to the greater of (1) $4.0 million or (2) 80% of the liquidity that had be
• $400,000 — he forecast and (ii) minimum EBITDA of ($400,000), $500,000, $1.0 million, and $1.0 mill
• $500,000 — and (ii) minimum EBITDA of ($400,000), $500,000, $1.0 million, and $1.0 million for the
• $1.0 m — minimum EBITDA of ($400,000), $500,000, $1.0 million, and $1.0 million for the quarter
• $1.0 million — ($400,000), $500,000, $1.0 million, and $1.0 million for the quarters ending October 31, 202
• $2.0 m — 3 and thereafter, liquidity of at least $2.0 million, rather than the greater of $4.0
• $2.0 million — uired to maintain liquidity of at least $2.0 million and pay the remaining outstanding balan
• $15.0 million — ecured revolving loan facility of up to $15.0 million (the "EBC Revolving Loan Facility") and
• $666,666.67 — of $1.0 million through July 12, 2024, $666,666.67 from July 13, 2024 through August 11, 2
• $333,333.34 — ly 13, 2024 through August 11, 2024 and $333,333.34 from August 12, 2024 through September

Filing Documents

• rfil20241031_10k.htm (10-K) — 1664KB
• ex_766502.htm (EX-19) — 41KB
• ex_763669.htm (EX-21.1) — 4KB
• ex_763670.htm (EX-23.1) — 2KB
• ex_763671.htm (EX-31.1) — 8KB
• ex_763672.htm (EX-31.2) — 8KB
• ex_763673.htm (EX-32.1) — 5KB
• ex_763668.htm (EX-32.2) — 5KB
• 0001437749-25-001497.txt ( ) — 7937KB
• rfil-20241031.xsd (EX-101.SCH) — 61KB
• rfil-20241031_def.xml (EX-101.DEF) — 457KB
• rfil-20241031_lab.xml (EX-101.LAB) — 409KB
• rfil-20241031_pre.xml (EX-101.PRE) — 495KB
• rfil-20241031_cal.xml (EX-101.CAL) — 66KB
• rfil20241031_10k_htm.xml (XML) — 1232KB

Forward-Looking Statements

Forward-Looking Statements: Certain statements in this Annual Report on Form 10-K (this "Annual Report"), and other oral and written statements made by the Company from time to time are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including those that discuss strategies, goals, outlook or other non-historical matters, or projected revenues, income, returns or other financial measures. In some cases forward-looking statements can be identified by terminology such as "may," "will," "should," "except," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms or other comparable terminology. These forward-looking statements are subject to numerous risks and uncertainties that may cause actual results to differ materially from those contained in such statements. Among the most important of these risks and uncertainties are the ability of the Company to meet customer demand through pricing and product offerings and efficient inventory and distribution channel management, to continue to source our raw materials and products from our suppliers and manufacturers, particularly those in Asia, the market demand for our products, which market demand is dependent in large part on the state of the telecommunications industry, the Company's ability to continue as a going concern, the Company's ability to remain in compliance with its existing capital loan terms and financial covenants and whether plans to develop 4G and 5G networks accelerate as expected, as well as our ability to meet any such demand, the effect of future business acquisitions and dispositions, the incurrence of impairment charges, and competition. Important factors which may cause actual results to differ materially from the forward-looking statements are described in the Section entitled "Risk Factors" in this Form 10-K, and other risks identified from time to time in the Company's filing

BUSINESS

BUSINESS General RF Industries, Ltd. (together with subsidiaries, the "Company", "we", "us", or "our") is a national manufacturer and marketer of interconnect products and systems, including high-performance components such as RF connectors and adapters, dividers, directional couplers and filters, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. Through our manufacturing and production facilities, we provide a wide selection of interconnect products and solutions primarily to telecommunications carriers and equipment manufacturers, wireless and network infrastructure carriers and manufacturers and to various original equipment manufacturers ("OEMs") in several market segments. We also design, engineer, manufacture and sell energy-efficient cooling systems and integrated small cell solutions and related components. We operate through two reporting segments: (i) the RF Connector and Cable Assembly ("RF Connector") segment, and (ii) the Custom Cabling Manufacturing and Assembly ("Custom Cabling") segment. The RF Connector segment primarily designs, manufactures, markets and distributes a broad range of RF connector, adapter, coupler, divider, and cable products, including coaxial passives and cable assemblies that are used in telecommunications and information technology, OEM markets and other end markets. The Custom Cabling segment designs, manufactures, markets and distributes custom copper and fiber cable assemblies, complex hybrid fiber optic and power solution cables, electromechanical wiring harnesses, wiring harnesses for a broad range of applications in a diverse set of end markets, energy-efficient cooling systems for wireless base stations and remote equipment shelters and custom designed, pole-ready 5G small cell integrated enclosures. 4 Recent Events In February 2022, we entered into a loan agreement (the "BofA Loan Agreement") providing for a revo

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View this 10-K filing on SEC EDGAR