Richardson Electronics Files Q1 2025 10-Q
Ticker: RELL · Form: 10-Q · Filed: Oct 10, 2024 · CIK: 355948
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Richardson Electronics filed its Q1 2025 10-Q. Financials look steady.
AI Summary
Richardson Electronics, Ltd. filed its 10-Q for the period ending August 31, 2024. The filing details the company's financial position, including assets, liabilities, and equity. Specific financial figures and operational details for the quarter are presented within the report.
Why It Matters
This 10-Q filing provides investors and analysts with a quarterly update on Richardson Electronics' financial health and operational performance, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information without immediate red flags.
Key Players & Entities
- RICHARDSON ELECTRONICS, LTD. (company) — Filer
- 20240831 (date) — Reporting period end date
- 20241010 (date) — Filing date
- LAFOX, IL (location) — Company headquarters
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is August 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 10, 2024.
What is the company's primary business classification?
The company's Standard Industrial Classification is Wholesale-Electronic Parts & Equipment, NEC [5065].
What is the company's state of incorporation?
The company is incorporated in Delaware (DE).
What is the company's fiscal year end?
The company's fiscal year ends on May 31.
Filing Stats: 4,449 words · 18 min read · ~15 pages · Grade level 14.1 · Accepted 2024-10-10 14:34:30
Key Financial Figures
- $0.05 — nge on which registered Common stock, $0.05 Par Value RELL NASDAQ Global Select
Filing Documents
- rell-20240831.htm (10-Q) — 1216KB
- rell-ex31_1.htm (EX-31.1) — 14KB
- rell-ex31_2.htm (EX-31.2) — 14KB
- rell-ex32.htm (EX-32) — 10KB
- img207186176_0.jpg (GRAPHIC) — 27KB
- 0000950170-24-114027.txt ( ) — 5861KB
- rell-20240831.xsd (EX-101.SCH) — 837KB
- rell-20240831_htm.xml (XML) — 1008KB
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 6 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 15 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.
Controls and Procedures
Controls and Procedures 22 Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 23 Item 1A.
Risk Factors
Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24 Exhibit Index 24
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 August 31, 2024 June 1, 2024 Assets Current assets: Cash and cash equivalents $ 23,035 $ 24,263 Accounts receivable, less allowance for credit losses of $ 351 and $ 323 , respectively 30,862 24,845 Inventories, net 110,994 110,149 Prepaid expenses and other assets 2,488 2,397 Total current assets 167,379 161,654 Non-current assets: Property, plant and equipment, net 20,612 20,681 Intangible assets, net 1,582 1,641 Right of use lease assets 2,538 2,760 Deferred income tax assets 5,555 5,500 Other non-current assets 197 209 Total non-current assets 30,484 30,791 Total assets $ 197,863 $ 192,445 Liabilities Current liabilities: Accounts payable $ 19,758 $ 15,458 Accrued liabilities 15,403 15,404 Lease liabilities current 1,107 1,169 Total current liabilities 36,268 32,031 Non-current liabilities: Deferred income tax liabilities 79 90 Lease liabilities non-current 1,431 1,591 Other non-current liabilities 1,021 781 Total non-current liabilities 2,531 2,462 Total liabilities 38,799 34,493 Stockholders' Equity Common stock, $ 0.05 par value; 12,331 and 12,254 shares issued and outstanding on August 31, 2024 and June 1, 2024, respectively 617 613 Class B common stock, convertible, $ 0.05 par value; 2,049 shares issued and outstanding on August 31, 2024 and June 1, 2024 102 102 Preferred stock, $ 1.00 par value, no shares issued — — Additional paid-in-capital 73,315 72,744 Retained earnings 83,630 83,729 Accumulated other comprehensive income 1,400 764 Total stockholders' equity 159,064 157,952 Total liabilities and stockholders' equity $ 197,863 $ 192,445 Refer to the Notes to Unaudited Consolidated Financial St