Richardson Electronics Q2 FY25 10-Q Filed
Ticker: RELL · Form: 10-Q · Filed: Jan 10, 2025 · CIK: 355948
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Richardson Electronics filed its Q2 FY25 10-Q, showing segment performance updates.
AI Summary
Richardson Electronics, Ltd. filed its 10-Q for the period ending November 30, 2024. The company reported its financial results for the second quarter of fiscal year 2025. Key financial data and segment performance, including details for the "Canvys" and "Global Energy Solutions" segments, were presented.
Why It Matters
This filing provides investors with an update on Richardson Electronics' financial performance and operational status for the second quarter of fiscal year 2025, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Numbers
- 20241130 — Reporting Period End (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20250110 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- RICHARDSON ELECTRONICS, LTD. (company) — Filer
- 20241130 (date) — Reporting period end date
- 20250110 (date) — Filing date
- Canvys (company) — Business segment
- Global Energy Solutions (company) — Business segment
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is November 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on January 10, 2025.
What are some of the business segments mentioned in the filing?
The filing mentions business segments such as "Canvys" and "Global Energy Solutions."
What is the company's fiscal year end?
Richardson Electronics, Ltd.'s fiscal year ends on May 31.
What is the Standard Industrial Classification code for Richardson Electronics?
The Standard Industrial Classification code is 5065, categorized as Wholesale-Electronic Parts & Equipment, NEC.
Filing Stats: 4,553 words · 18 min read · ~15 pages · Grade level 14 · Accepted 2025-01-10 09:54:47
Key Financial Figures
- $0.05 — nge on which registered Common stock, $0.05 Par Value RELL NASDAQ Global Select
Filing Documents
- rell-20241130.htm (10-Q) — 2172KB
- rell-ex31_1.htm (EX-31.1) — 14KB
- rell-ex31_2.htm (EX-31.2) — 14KB
- rell-ex32.htm (EX-32) — 10KB
- img207209239_0.jpg (GRAPHIC) — 27KB
- 0000950170-25-003888.txt ( ) — 8207KB
- rell-20241130.xsd (EX-101.SCH) — 839KB
- rell-20241130_htm.xml (XML) — 1732KB
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' 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 18 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, Use of Proceeds and Issuer Purchases of Equity Securities 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 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 November 30, 2024 June 1, 2024 Assets Current assets: Cash and cash equivalents $ 26,635 $ 24,263 Accounts receivable, less allowance for credit losses of $ 373 and $ 323 , respectively 25,765 24,845 Inventories, net 110,687 110,149 Prepaid expenses and other assets 2,441 2,397 Total current assets 165,528 161,654 Non-current assets: Property, plant and equipment, net 20,166 20,681 Intangible assets, net 1,521 1,641 Right of use lease assets 2,321 2,760 Deferred income tax assets 5,566 5,500 Other non-current assets 123 209 Total non-current assets 29,697 30,791 Total assets $ 195,225 $ 192,445 Liabilities Current liabilities: Accounts payable $ 19,978 $ 15,458 Accrued liabilities 15,633 15,404 Lease liabilities current 1,075 1,169 Total current liabilities 36,686 32,031 Non-current liabilities: Deferred income tax liabilities 75 90 Lease liabilities non-current 1,246 1,591 Other non-current liabilities 1,027 781 Total non-current liabilities 2,348 2,462 Total liabilities 39,034 34,493 Stockholders' Equity Common stock, $ 0.05 par value; 12,359 and 12,254 shares issued and outstanding on November 30, 2024 and June 1, 2024, respectively 618 613 Class B common stock, convertible, $ 0.05 par value; 2,049 shares issued and outstanding on November 30, 2024 and June 1, 2024 102 102 Preferred stock, $ 1.00 par value, no shares issued — — Additional paid-in-capital 73,793 72,744 Retained earnings 82,026 83,729 Accumulated other comprehensive (loss) income ( 348 ) 764 Total stockholders' equity 156,191 157,952 Total liabilities and stockholders' equity $ 195,225 $ 192,445 Refer to the Notes to Unaudited Consolid