RICHARDSON ELECTRONICS, LTD. Files 10-Q for Period Ending December 2, 2023

TL;DR

<b>Richardson Electronics, Ltd. filed its Q2 2024 10-Q report, detailing financial positions and segment performance.</b>

AI Summary

RICHARDSON ELECTRONICS, LTD. (RELL) filed a Quarterly Report (10-Q) with the SEC on January 11, 2024. Filing is a 10-Q for Richardson Electronics, Ltd. for the period ending December 2, 2023. The company's fiscal year ends on June 1st. The filing includes data related to Common Stock, Additional Paid In Capital, and Retained Earnings. Specific segments mentioned include Healthcare, Global Energy Solutions, Canvys, and Power and Microwave Technologies Group. Financial data points such as Accumulated Other Comprehensive Income are included.

Why It Matters

For investors and stakeholders tracking RICHARDSON ELECTRONICS, LTD., this filing contains several important signals. This 10-Q filing provides a quarterly update on Richardson Electronics' financial health and operational performance, crucial for investors to assess recent business trends. The detailed segment information allows stakeholders to understand the performance drivers within different business units, such as Healthcare and Global Energy Solutions.

Risk Assessment

Risk Level: low — RICHARDSON ELECTRONICS, LTD. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags.

Analyst Insight

Review the detailed segment performance within the 10-Q to identify growth areas and potential challenges for Richardson Electronics.

Key Numbers

• 2023-12-02 — Period End Date (Conformed period of report)
• 2024-01-11 — Filing Date (Filed as of date)
• 0601 — Fiscal Year End (Fiscal year end)
• 5065 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• RICHARDSON ELECTRONICS, LTD. (company) — Filer name
• 2023-12-02 (date) — Conformed period of report
• 2024-01-11 (date) — Filed as of date
• LAFOX (location) — Business address city
• IL (location) — Business address state
• 60147 (postal_code) — Business address zip
• Healthcare (segment) — Mentioned segment
• Global Energy Solutions (segment) — Mentioned segment

Forward-Looking Statements

• Richardson Electronics will continue to face headwinds in its Canvys and Healthcare segments, leading to further sales pressure in the next quarter. (Richardson Electronics, Ltd.) — medium confidence, target: 2024-03-02
• The company's focus on a favorable product mix will help maintain or slightly improve gross profit margins despite potential sales declines. (Richardson Electronics, Ltd.) — medium confidence, target: 2024-03-02

FAQ

Industry Context

Richardson Electronics operates in the wholesale of electronic parts and equipment, a sector characterized by complex supply chains and technological advancements.

Regulatory Implications

The filing adheres to SEC regulations for quarterly reporting (10-Q), ensuring transparency and providing standardized financial information to the public.

What Investors Should Do

1. Analyze the financial statements within the 10-Q for detailed revenue, expenses, and balance sheet information.
2. Examine any disclosures regarding segment performance to understand the contribution of each business unit.
3. Compare current period data with prior periods to identify trends and changes in financial performance.

Key Dates

• 2023-12-02: Period End — End of the reporting period for the 10-Q filing.
• 2024-01-11: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, providing a quarterly update. Specific comparative data against the previous filing (e.g., 10-K or prior 10-Q) is not directly extractable from the provided header information.

Key Financial Figures

• $0.05 — nge on which registered Common stock, $0.05 Par Value RELL NASDAQ Global Select

Filing Documents

• rell-20231202.htm (10-Q) — 1785KB
• rell-ex31_1.htm (EX-31.1) — 13KB
• rell-ex31_2.htm (EX-31.2) — 13KB
• rell-ex32.htm (EX-32) — 10KB
• img206286588_0.jpg (GRAPHIC) — 27KB
• 0000950170-24-003844.txt (&nbsp;) — 7181KB
• rell-20231202.xsd (EX-101.SCH) — 819KB
• rell-20231202_htm.xml (XML) — 1429KB

Financial Statements

Financial Statements 2 Unaudited Consolidated Balance Sheets 2 Unaudited Consolidated Statements of Comprehensive (Loss) Income 3 Unaudited Consolidated Statements of Cash Flows 4 Unaudited Consolidated Statement of Stockholders&#x2019; Equity 5 Notes to Unaudited Consolidated Financial Statements 7 Item 2. Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 5. Other Information 27 Item 6. Exhibits 28 Exhibit Index 28

FINAN CIAL INFORMATION

PART I. FINAN CIAL INFORMATION

FINA NCIAL STATEMENTS

ITEM 1. FINA NCIAL STATEMENTS Richardson Electronics, Ltd. Consolidated B alance Sheets (in thousands, except per share amounts) Unaudited Audited December 2, 2023 May 27, 2023 Assets Current assets: Cash and cash equivalents $ 22,769 $ 24,981 Accounts receivable, less allowance of $ 201 and $ 191 , respectively 23,909 30,067 Inventories, net 116,951 110,402 Prepaid expenses and other assets 2,926 2,633 Total current assets 166,555 168,083 Non-current assets: Property, plant and equipment, net 21,363 20,823 Intangible assets, net 1,767 1,892 Right of use lease asset 2,145 2,457 Deferred income taxes 4,476 4,526 Other non-current assets 182 267 Total non-current assets 29,933 29,965 Total assets $ 196,488 $ 198,048 Liabilities Current liabilities: Accounts payable $ 22,505 $ 23,535 Accrued liabilities 12,432 12,026 Lease liability current 1,033 1,028 Total current liabilities 35,970 36,589 Non-current liabilities: Non-current deferred income tax liabilities 99 98 Lease liability non-current 1,112 1,429 Other non-current liabilities 666 612 Total non-current liabilities 1,877 2,139 Total liabilities 37,847 38,728 Stockholders&#x2019; Equity Common stock, $ 0.05 par value; 12,227 shares issued and outstanding on December 2, 2023 and 12,140 shares issued and outstanding on May 27, 2023 611 607 Class B common stock, convertible, $ 0.05 par value; 2,052 shares issued and outstanding on December 2, 2023 and 2,052 shares issued and outstanding on May 27, 2023 103 103 Preferred stock, $ 1.00 par value, no shares issued &#x2014; &#x2014; Additional paid-in-capital 71,936 70,951 Retained earnings 84,786 87,044 Accumulated other comprehensive income 1,205 615 Total stockholders' equity 158,641 159,320 Total liabilities and stockholders&#x2019; equity $ 196,488 $

View Full Filing

View this 10-Q filing on SEC EDGAR