RICHARDSON ELECTRONICS, LTD. Files 10-Q for Q3 2024

TL;DR

<b>RICHARDSON ELECTRONICS, LTD. filed its Q3 2024 10-Q report</b>.

AI Summary

RICHARDSON ELECTRONICS, LTD. (RELL) filed a Quarterly Report (10-Q) with the SEC on April 11, 2024. Filing is a 10-Q for the quarter ending March 2, 2024. Company name is RICHARDSON ELECTRONICS, LTD. Fiscal year ends June 1st. Incorporated in Delaware. Primary SIC code is 5065 (Wholesale-Electronic Parts & Equipment, NEC).

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 the company's financial performance and position. Investors and analysts can use this report to assess the company's operational health and make informed investment decisions.

Risk Assessment

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

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand current business trends.

Key Numbers

• 2024-03-02 — Reporting Period End Date (Conformed period of report)
• 2024-04-11 — 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
• LAFOX (company) — Business and mailing city
• DE (company) — State of incorporation

FAQ

Industry Context

Richardson Electronics, Ltd. operates in the wholesale of electronic parts and equipment sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosure of financial information.

What Investors Should Do

1. Analyze the balance sheet and income statement for the quarter ended March 2, 2024.
2. Examine any disclosures related to segments like Global Energy Solutions, Healthcare, or Unallocated Other.
3. Review management's discussion and analysis for insights into operational performance and outlook.

Key Dates

• 2024-03-02: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-11: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, representing a standard quarterly update.

Key Financial Figures

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

Filing Documents

• rell-20240302.htm (10-Q) — 1796KB
• rell-ex31_1.htm (EX-31.1) — 13KB
• rell-ex31_2.htm (EX-31.2) — 13KB
• rell-ex32.htm (EX-32) — 10KB
• img207181279_0.jpg (GRAPHIC) — 27KB
• 0000950170-24-043629.txt (&nbsp;) — 7324KB
• rell-20240302.xsd (EX-101.SCH) — 830KB
• rell-20240302_htm.xml (XML) — 1480KB

Financial Statements

Financial Statements 2 Unaudited Consolidated Balance Sheets 2 Unaudited Consolidated Statements of Comprehensive Income 3 Unaudited Consolidated Statements of Cash Flows 4 Unaudited Consolidated Statement of Stockholders' Equity 5 Notes to Unaudited Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management'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 25 Item 4.

Controls and Procedures

Controls and Procedures 25 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 5. Other Information 26 Item 6. Exhibits 27 Exhibit Index 27

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 March 2, 2024 May 27, 2023 Assets Current assets: Cash and cash equivalents $ 18,880 $ 24,981 Accounts receivable, less allowance of $ 233 and $ 191 , respectively 29,131 30,067 Inventories, net 112,635 110,402 Prepaid expenses and other assets 2,741 2,633 Total current assets 163,387 168,083 Non-current assets: Property, plant and equipment, net 20,723 20,823 Intangible assets, net 1,704 1,892 Right of use lease asset 3,120 2,457 Deferred income taxes 4,471 4,526 Other non-current assets 200 267 Total non-current assets 30,218 29,965 Total assets $ 193,605 $ 198,048 Liabilities Current liabilities: Accounts payable $ 18,393 $ 23,535 Accrued liabilities 12,660 12,026 Lease liability current 1,234 1,028 Total current liabilities 32,287 36,589 Non-current liabilities: Non-current deferred income tax liabilities 96 98 Lease liability non-current 1,886 1,429 Other non-current liabilities 715 612 Total non-current liabilities 2,697 2,139 Total liabilities 34,984 38,728 Stockholders' Equity Common stock, $ 0.05 par value; 12,227 shares issued and outstanding on March 2, 2024 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 March 2, 2024 and 2,052 shares issued and outstanding on May 27, 2023 103 103 Preferred stock, $ 1.00 par value, no shares issued — — Additional paid-in-capital 72,215 70,951 Retained earnings 84,692 87,044 Accumulated other comprehensive income 1,000 615 Total stockholders' equity 158,621 159,320 Total liabilities and stockholders' equity $ 193,605 $ 198,048 2 Richardson Electronics,

View Full Filing

View this 10-Q filing on SEC EDGAR