True RF transparency enables exceptional small cell performance with no visual clutter.

The post Munisite Networks Brings Concealed 5G to Jersey Shore with RF Industries Trufield Pole Top Shroud appeared first on RF Industries.

Connections More Vital Than Ever

Today, a flawed coaxial connection can severely reduce performance on digital systems like ThinNET (EtherNET), Wireless networks like WiFi and WLAN’s and high-end video like SDTV, DTV and HDTV. Where just a few years ago a poorly installed CCTV connector might have yielded a 1dB or less loss on a CCTV system, the same bad connection can now yield a 10dB loss on a > 1GHz system. That could mean that only about a third of the signal would get through the connection.

Let’s review a few of the factors to be considered when building coaxial connections and cable assemblies.

Advantages of Compression

• Simple and fast field installation using hand tools with little experience needed
• Superior pull strength compared to crimp or solder
• Superior weather seal
• Piece connector with no components to lose or improperly install

Disadvantages of Compression

• Specialized tooling required for cable preparation and connector attachment
• Limited connector to cable selections
• Higher connector cost compared to crimp or solder

Connector Attachment and Low PIM

Passive Intermodulation (PIM) is essentially interference caused by unwanted signals mixing in the passive components of a wireless network. Some wireless networks like LTE are more susceptible to PIM. Installing low PIM components can avoid this problem. There are three elements to cable assemblies for low PIM performance. The connector and cable must be designed and manufactured to exhibit low PIM performance. Most braided cables will not qualify as low PIM. The connector to cable connection is the third important element in low PIM performance. The ground connection must be robust, uniform and consistent. Although crimp connectors provide adequate electrical and mechanical performance they generally exhibit poor PIM performance. Specially designed solder connectors will perform well at reducing PIM. To achieve good grounding, specialty soldering methods and tools are required. High power inductive soldering stations apply concentrated heat to effectively melt and flow the solder without damaging the cable or connector. Due to the large size and power requirements of induction solder equipment; attachment of low PIM solder on connectors in the field is not an option. Specially designed compression connectors and installation tools for corrugated cables may be used for field installation with good low PIM results.

The post Crimp vs. Solder vs. Compression: Pros & Cons appeared first on RF Industries.

At the halfway point of fiscal 2018, revenue has outpaced all of fiscal 2017.

RF Industries (Nasdaq: RFIL) on April 30 wrapped up the biggest quarter in its nearly four decades of existence. It brought $22.4 million worth of sales, up from $7.6 million in the year-ago quarter. The business publicly announced its numbers June 11.

“I like being under the radar and outworking people, and that’s kind of what I think we did,” said Robert Dawson, who is finishing his first year as CEO.

Dawson, 44, doesn’t seem eager to take all the credit. In an interview, he said he had a pretty good start when he took the top job. But several things went well in the second quarter.

Quick-Turnaround Orders

RF Industries’ core business is quick-turnaround orders, fulfilled in days or weeks. The business aimed for 10 percent to 15 percent growth while layering in opportunities to get larger projects in the industrial and wireless carrier markets.

“We’ve done a good job of getting ourselves in front of the right people,” Dawson said.

RF Industries has also leveraged distribution channels. Generally, the CEO said, if an original equipment manufacturer needs a custom, unique or heavy product, RF Industries sells the piece directly. “Whereas if we can throw it on a shelf at a distributor, and they can hold it as inventory for us, they’re truly a force multiplier for us in the marketplace,” he said.

Read the Full Story in the San Diego Business Journal

The post RF Industries Is Flying Under the Radar and Soaring at Same Time appeared first on RF Industries.

SAN DIEGO, CA, July 02, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — RF Industries, Ltd, (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced that effective July 10, 2020 Mark Turfler will be stepping down as CFO, a position he has held since January 2014. Peter Yin, RF Industries Senior Vice President, Finance & Operations, has been appointed interim Chief Financial Officer, effective July 11, 2020.

“On behalf of all of us at RF Industries, I want to thank Mark for his many contributions over the years, and for serving as a steady partner for me when I joined the company,” said Robert Dawson, President and CEO of RF Industries. “He leaves the company in a much stronger financial position, and I wish him all the success in his future endeavors.”

“I look forward to the contributions Peter will make in his expanded role,” Dawson continued. “Peter has played a central role on my leadership team and is well prepared to assume his new key position here at RF Industries.”

Mr. Yin joined RF Industries in September 2014 as Corporate Controller and was promoted to Senior Vice President, Finance & Operations in November 2019. He previously worked at Sony Corporation of America in Corporate Audit and at Grant Thornton in the Assurance practice.

“I am excited about my new role at RF Industries as we continue to pursue our growth strategy,” said Peter Yin.

RF Industries will commence a formal search for a permanent Chief Financial Officer. Mr. Turfler’s departure is not related to any disagreements relating to operating, accounting or financial reporting matters.

About RF Industries

RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. The Company’s products include RF connectors, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut and North Kingstown, Rhode Island. Please visit the RF Industries website at www.rfindustries.com.

Contact:

MKR Investor Relations Inc.

Todd Kehrli

Analyst/Investor Contact

(323) 468-2300

rfil@mkr-group.com

The post RF Industries Announces CFO Transition and Appoints Interim CFO appeared first on RF Industries.

Throughout any Distributed Antenna System (DAS) there are a variety of RF connectors used to join the cabling to the component interface. While many of the common connector types will work in a DAS environment, some are better suited than others when it comes to reducing interference. PIM is a major cause of signal degradation in DAS and choosing the right connector type to help reduce PIM is imperative.

Which Connector Type is best for DAS?

For DAS, you will want to use low PIM connectors and depending on the type of DAS some connectors will perform better than others. In some cases, the DAS architecture or the components being installed will require you to use one connector over another. Most common connector types will perform well within the lower frequency bands when properly installed but it is when you have a DAS operating in the higher frequency bands that you begin to discover PIM issues.

The key is to choose a connector that will perform well in both low and high frequency bands. This will allow you to use the same connector type throughout the entire DAS system without fear of having problems later down the road should additional frequencies be used.

How Connectors Cause PIM

PIM is new frequencies generated by the transmit signals when they encounter non-linear junctions or materials in the RF path. To keep it simple PIM is interference. When this interference (PIM) is generated it falls over into the uplink band which increases the noise floor and interferes with the mobile device signals leading to access failures, slower data rates and dropped calls.

• Connectors can cause PIM in a variety of ways:

  • Poor Cable Termination
  • Damaged or Poorly made Connector – broken or cracked solder, nickel plating, shipping damage
  • Loose Connector – not properly torqued
  • Over-torqued or broken connector
  • Metal flakes inside connector – flakes appear with each mating cycle. Worse if touching conductors.
  • Metal flakes inside cable

Of the common connector types used in DAS, test results have shown that Type N connectors do not perform well when testing PIM at the higher frequency bands.

PIM Testing – Connector Results*

Testing results using 700MHz, 850 MHz, 1900 MHz, 2600 MHz – PIM was introduced to see how the connectors performed across a range of frequency bands. The connectors were subject to the same test configuration to compare results.

Connector Type	700 MHz (dBm)	850 MHz (dBm)	1900 MHz (dBm)	2600 MHz (dBm)	Delta (dBm)
N Type	-100	-95	-80	-72	28
7-16	-118	-112	-107	-97	31
4.1-9.5	-121	-121	-112	-102	19
4.3-10	-129	-124	-127	-120	9

N Type – average results – if connector loosens from vibration or incorrect torque the connector will fail PIM miserably – not a great performer in the lower frequency bands but performs worse at higher frequency bands – No middle ground with N Type – PIM was either very good or very bad.

7-16 DIN – similar results to the Type N connector but did perform slightly better. Like the Type N connector, the 7-16 DIN performed worse at higher frequency bands.

4.1-9.5 – better PIM results than the N or 7-16 DIN connectors. Very little PIM at lower frequency bands and only performed slightly worse at the 1900 and 2600 bands.

4.3-10 – (push-pull connector) Very good results – PIM was flat across all frequency bands. This seems to be a great connector for use in DAS systems – using the push pull connector there is no way to create an un-torqued connection and virtually eliminates the metal flakes that are created when mating and un-mating other connectors.

Connector Summary

Loose connector PIM is worse at higher frequencies – the 4.3-10 connector performed the most consistently of all connectors across all frequency bands – the 4.3-10 connector appears to be the best choice for use in a DAS environment.

No matter which connector is chosen it is important to ensure that the connector is properly terminated onto the cable and the connector is properly torqued when installed on the interface. Even a slight loosening of the connector (through vibration) will cause PIM to increase significantly.

*Anritsu test results 2015

The post The Best RF Connectors for DAS appeared first on RF Industries.

To support current needs and future growth, RF Industries has expanded production capacity for RF coax cable assembly manufacturing. Both low PIM (Passive Intermodulation) and conventional coax assembly areas have expanded.

Low PIM coax cable assemblies require special manufacturing equipment and processes as well as test equipment and methodologies for proper performance. Low PIM cable assemblies are critical to the performance of 4G and 5G wireless networks in reducing interference and minimizing system degradation. Low PIM coax cable assemblies are manufactured using a variety of cable brands terminated with RF Industries or other brands of connectors. PIM testing capabilities include multiple stations measuring high or low frequency bands. Dual band PIM testing ensures the assembly will meet or exceed the performance levels required by neutral host providers. All PIM test data and documentation are available online through a single serial ID.

Conventional coax cable assemblies utilize a variety of cable and connector types depending on the application. RF Industries manufactures coax cable assemblies using a variety of cable brands terminated with RF Industries or other brands of connectors.

In addition to assemblies using braided cables, RF Industries has the capabilities to manufacture corrugated cable assemblies. The use of state-of-the-art, high-capacity coiling/recoiling equipment allows RF Industries to handle larger diameter cable sizes and addresses customer required lengths up to hundreds of feet.

RF Industries manufactures coax cable assemblies in the United States for fast response to customer requirements.

The post RF Industries Expands Coax Cable Production to Support Wireless Infrastructure Growth appeared first on RF Industries.

SAN DIEGO, CA, June 11, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE —RF Industries, Ltd, (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced its financial results for the second quarter of fiscal 2020 ended April 30, 2020.

Second Quarter Fiscal 2020 Highlights and Operating Results:

• Net sales of $10.4 million
• Net loss was $(184,000), or $(0.02) per diluted share
• Non-GAAP net loss was $(73,000), or $(0.01) per diluted share
• Adjusted EBITDA was $176,000
• Cash and cash equivalents were $14 million

Robert Dawson, President and CEO of RF Industries, commented:

“As the second quarter began, we were executing well on our go-to-market plan and generating good momentum in our business. However, as we stated on our last earnings call, which occurred only days prior to the government mandated stay at home orders related to the pandemic, we were unsure of the full economic impact of the coronavirus and anticipated that it may present a short-term speed bump in our growth. In fact, the timing of this unfavorable economic impact occurred in the middle of our second quarter and had a significant impact on the results that we’re reporting today. Although we continued to operate during the stay at home period because our products were designated as essential to support the federal critical infrastructure communications sector, our operations were negatively impacted. We experienced delays in our project-based business, but are hopeful that this delayed business will reappear in late 2020 or early 2021. Similarly, our distribution business was negatively impacted but has since started to return. We believe that with our current financial position, we remain well-positioned to successfully navigate this challenging operating environment and emerge a stronger company as we continue to execute on our long-term growth plan.”

Second Quarter Fiscal 2020 Results

Net sales in the secondquarter of fiscal 2020 were $10.4 million, a decrease of 23.7%, or $3.2 million, compared to $13.6 million in the second quarter of fiscal 2019. The year-over-year decrease in net sales reflects a decrease in the Company’s project-based business resulting from the slowdown in carrier spending. This decrease was partially offset by additional sales contributed by the newly acquired Schroff Technologies and C Enterprises, Inc. subsidiaries (the Company did not own Schrofftech in the fiscal 2019 quarter, and only owned C Enterprises for six weeks in the 2019 quarter).

Gross profit for the second quarter was $2.6 million, compared to $4.1 million in the second quarter last year. Gross margins were 25% of net sales, compared to 30% of net sales in the fiscal 2019 second quarter. The decline in margins was primarily due to lower sales in the project-based business that resulted in lower coverage of fixed production costs, product mix at the Custom Cabling segment and increased sales at the C Enterprises subsidiary, whose gross margins are lower than the blended margins of the Company’s other divisions.

Total operating expenses increased $0.1 million to $2.8 million (27% of net sales), compared to $2.7 million (20% of net sales) in the second quarter last year primarily due to (i) the operating expenses of the Schroff Technologies subsidiary and (ii) a full quarter of operating expenses of the C Enterprises subsidiary. The costs were partially offset by the $0.3 million decrease in valuation of Schroff Technologies’ earn-out liability. Excluding the impact of the two subsidiaries’ additional operating expenses, second quarter operating expenses declined approximately $0.7 million when compared to the second quarter last year.

Total operating expenses in the current quarter included $173,000 of amortization expense, an increase of $104,000 over last year, as a result of the acquisition of Schroff Technologies and $97,000 in stock-based compensation expense, an increase of $19,000 over the prior year.

Additionally, the Company incurred approximately $50,000 of increased production and operating costs for supplies, sanitation services and other costs to keep its employees safe related to the COVID-19 pandemic.

Net loss for the second quarter of fiscal 2020 was $(184,000), or $(0.02) per diluted share, compared to net income of $1.1 million, or $0.11 per diluted share, in the second quarter last year.

Non-GAAP net loss for the second quarter of fiscal 2020 was $(73,000), or $(0.01) per diluted share, compared to non-GAAP net income of $1.2 million, or $0.13 per diluted share in the second quarter last year. For the second quarter of fiscal 2020, non-GAAP adjustments excluded $97,000 of stock-based compensation expense, an increase of $19,000 compared to $78,000 in the second quarter last year.

Adjusted EBITDA for the second quarter of fiscal 2020 was $176,000, compared to $1.7 million in the second quarter last year. For the second quarter of fiscal 2020, adjusted EBITDA excluded $97,000 stock-based compensation expense and $173,000 amortization expense, an increase of $104,000 compared to $69,000 in the second quarter last year primarily due to the impact of acquiring Schroff Technologies. Adjusted EBITDA excluded a $3,000 tax expense, compared to a $315,000 tax expense in the second quarter last year.

First Six Months Results

Net sales for the first six months of fiscal 2020 were $22.8 million, compared to $24.3 million for the same period of fiscal 2019. The year-over-year decrease in net sales reflects a decrease in the Company’s project-based business resulting from the slowdown in carrier spending. This decrease was partially offset by increased sales from newly acquired Schroff Technologies and C Enterprises.

Gross profit for the first six months was $5.8 million, compared to $7.2 million, while gross margins were 26% of sales compared to 30% of sales in the same period last year. The decline in margins was primarily due to lower sales in the project-based business that resulted in lower coverage of fixed production costs, product mix at the Custom Cabling segment and increased sales at the C Enterprises subsidiary, whose gross margins are lower than the blended margins of the Company’s other divisions.

Total operating expenses increased $0.9 million to $6.0 million (26% of net sales) compared to $5.1 million (21% of net sales) in the first half last year primarily due to the absorption of the additional operating expenses of newly acquired Schroff Technologies, which the Company did not own in fiscal 2019, and a full six months of engineering costs at C Enterprises (whose expenses were only included in 2019 for the six-week period following the acquisition of this subsidiary on March 15, 2019). Excluding the impact of their additional operating expenses, second half operating expenses declined approximately $0.7 million when compared to the second half last year.

Total operating expenses in the first half of fiscal 2020 included 1) $283,000 in stock-based compensation expense, an increase of $91,000 over the first half last year, due in part to new officers hired by the Company, and 2) $346,000 of amortization expense, an increase of $208,000 over last year, as a result of the acquisition of Schroff Technologies and 3) acquisition-related costs of $42,000, also due to the Schroff Technologies acquisition.

Additionally, the Company incurred approximately $50,000 of increased production and operating costs for supplies, sanitation services and other costs to keep its employees safe related to COVID-19 pandemic.

Net loss for the first half of fiscal 2020 was $(158,000), or $(0.02) per diluted share, compared to net income of $1.7 million, or $0.17 per diluted share, in the first half last year.

Non-GAAP net income for the first half of fiscal 2020 was $167,000, or $0.02 per diluted share, compared to non-GAAP net income of $2.0 million, or $0.20 per diluted share in the first half last year. For the first half of fiscal 2020, non-GAAP adjustments excluded $283,000 of stock-based compensation expense, an increase of $91,000 compared to $192,000 in the first of half last year, due in part to a new officer hired by the Company, and to acquisition-related costs of $42,000, due to the Schroff Technologies acquisition.

Adjusted EBITDA for the first half of fiscal 2020 was $646,000, compared to $2.7 million in the first half last year. For the first half of fiscal 2020, adjusted EBITDA excluded $283,000 stock-based compensation expense and $346,000 amortization expense, an increase of $208,000 compared to $138,000 in the first half last year primarily due to the impact of acquiring Schroff Technologies. Adjusted EBITDA excluded an $11,000 tax benefit, compared to a $483,000 tax expense in the first half last year.

Balance Sheet Data

At April 30, 2020, the Company had cash and cash equivalents of $14.1 million, reported working capital of $23.5 million, had a current ratio of 5.1-to-1 and no outstanding debt.

Subsequent to quarter end, the Company received in the aggregate a $2.8 million of loans under the Paycheck Protection Program (‘PPP’) within the Coronavirus Aid Relief and Economic Security Act. The loan bears interest at a fixed rate of 1% and will be forgiven if the Company meets certain conditions, which it expects to do at this time. The PPP loans provide the Company with financial protection and enabled it to continue employing all of its team members through this period of significant uncertainty.

As the Company has disclosed to its investors in the past, cash dividends depend on a number of factors, including general business conditions and other factors considered relevant by its Board of Directors. In light of the uncertainty and significant economic impact that the pandemic has had on the Company’s business, at this time the Board of Directors has suspended the dividend and will reconsider the payment of the dividend next quarter.

Conference Call and Webcast

RF Industries will host a conference call and live webcast today at 1:30 p.m. Pacific Time (4:30 p.m. ET) to discuss its second quarter 2020 financial results. To access the conference call, dial 888-394-8218 (US and Canada) or 323-794-2588(International). The conference ID is 7782659. In addition, a live and archived webcast of the conference call will be accessible on the investor relationssection of the Company’s website at www.rfindustries.com. A phone replay of the conference call will also be available beginning approximately two hours after conclusion of the call and will remain available for two weeks. To access the phone replay, dial 844-512-2921(US and Canada) or 412-317-6671(International). The replay conference ID is 7782659.

About RF Industries

RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. The Company’s products include RF connectors, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systemsand integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut and North Kingstown, Rhode Island. Please visit the RF Industries website at www.rfindustries.com.

Forward-Looking Statements

This press release contains forward-looking statements with respect to future events, including the return of delayed project-based business and the Company’s long-term growth, which are subject to a number of factors that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to: the duration and continuing impact of the coronavirus pandemic on the U.S. economy and the Company’s customers, changes in the telecommunications industry; the Company’s reliance on certain distributors and customers for a significant portion of anticipated revenues; the impact of existing and additional future tariffs imposed by U.S and foreign nations; the Company’s ability to execute on its new go-to-market strategies and channel models; its ability to expand its OEM relationships; its ability to continue to deliver newly designed and custom fiber optic and cabling products to principal customers; its ability to maintain strong margins and diversify its customer base;  and its ability to address the changing needs of the market.  Further discussion of these and other potential risk factors may be found in the Company’s public filings with the Securities and Exchange Commission (www.sec.gov) including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.  All forward-looking statements are based upon information available to the Company on the date they are published and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.

Note Regarding Use of Non-GAAP Financial Measures

To supplement our condensed financial statements presented in accordance with U.S. generally accepted accounting principles (GAAP), this earnings release and the accompanying tables and the related earnings conference call contain certain non-GAAP financial measures, including adjusted earnings before interest, taxes, depreciation, amortization (Adjusted EBITDA), non-GAAP net income and non-GAAP earnings per diluted share (non-GAAP EPS). We believe these financial measures provide useful information to investors with which to analyze our operating trends and performance. 

In computing Adjusted EBITDA, non-GAAP net income, and non-GAAP EPS, we exclude stock-based compensation expense, which represents non-cash charges for the fair value of stock options and other non-cash awards granted to employees, and acquisition related costs and expenses. For Adjusted EBITDA we also exclude depreciation, amortization, and provision for income taxes. Because of varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company’s non-cash operating expenses, we believe that providing non-GAAP financial measures that exclude non-cash expense and non-recurring costs and expenses allows for meaningful comparisons between our core business operating results and those of other companies, as well as providing us with an important tool for financial and operational decision-making and for evaluating our own core business operating results over different periods of time. 

Our Adjusted EBITDA, non-GAAP net income, and non-GAAP EPS measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. Our Adjusted EBITDA, non-GAAP Net income, and non-GAAP EPS are not measurements of financial performance under GAAP, and should not be considered as an alternative to operating or net income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. We do not consider these non-GAAP measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of specific adjustments to GAAP results is provided in the last two tables at the end of this press release.

RF Industries Ltd.
Mark Turfler
SVP/CFO
(858) 549-6340
rfi@rfindustries.com

MKR Investor Relations
Todd Kehrli
Analyst/Investor Contact
(323) 468-2300
rfil@mkr-group.com

The post RF Industries Reports Results for Second Quarter of Fiscal 2020 appeared first on RF Industries.

SAN DIEGO, CA, June 02, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — RF Industries, Ltd, (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced that it will release its financial results for the second quarter ended April 30, 2020 on Thursday, June 11, 2020, after the close of the market.

RF Industries will host a conference call and live webcast on June 11, 2020 at 1:30 p.m. Pacific Daylight Time (4:30 p.m. EDT) to discuss its second quarter fiscal 2020 financial results. To access the live call, dial 888-394-8218 (US and Canada) or 323-794-2588 (International). The conference ID is 7782659.

A live and archived webcast of the conference call will be accessible on the investor relations section of the Company’s website at www.rfindustries.com. In addition, a phone replay will be available beginning approximately two hours after conclusion of the call and will remain available for two weeks. To access the phone replay, dial 844-512-2921 (US and Canada) or 412-317-6671 (International). The replay conference ID is 7782659.

About RF Industries

RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. The Company’s products include RF connectors, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut and North Kingstown, Rhode Island. Please visit the RF Industries website at www.rfindustries.com.

RF Industries
Mark Turfler 
SVP/CFO 
(858) 549-6340 
rfi@rfindustries.com

MKR Investor Relations Inc.
Todd Kehrli
Analyst/Investor Contact 
(323) 468-2300 
rfil@mkr-group.com

The post RF Industries Sets Second Quarter Fiscal 2020 Earnings Call for Thursday, June 11, 2020 at 4:30 PM EDT appeared first on RF Industries.

Declares Quarterly Cash Dividend of $0.02 per Common Share

SAN DIEGO, CA, March 12, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — RF Industries, Ltd, (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced its financial results for the first quarter of fiscal 2020 ended January 31, 2020.

First Quarter Fiscal 2020 Highlights and Operating Results:

• Net sales increased 17% year over year to $12.4 million
• Net income was $26,000, or $0.00 per diluted share
• Non-GAAP net income was $241,000, or $0.02 per diluted share
• Adjusted EBITDA was $471,000
• Declared $0.02 per share dividend, the Company’s 39^th consecutive quarterly dividend

Robert Dawson, President and CEO of RF Industries, commented:

“Our first quarter is typically our lightest quarter, though we did grow 17% over last year. In addition to the usual seasonal factors, the softer industry-wide spending by wireless carriers contributed to lower project sales than originally expected. Fortunately, our distribution business continues to be diverse and healthy and, while spend from the wireless carriers was extremely light during the quarter, we are seeing signs of improvement in our second quarter. Our bookings have picked up across all divisions and backlog has increased in the second quarter to date. Looking forward, we maintain a solid balance sheet with no debt and a strong cash position.  While we are unsure of the full economic impact of the coronavirus and we acknowledge that it may present a short-term speed bump in our growth, we are focused on mitigating the impact.  We will continue to execute on our long-term growth plan through active management and strong customer relationships.”

First Quarter Fiscal 2020 Results

Net sales in the first quarter of fiscal 2020 were $12.4 million, an increase of 17%, or $1.8 million, compared to $10.6 million in the first quarter of fiscal 2019. The year-over-year increase in net sales reflects sales contribution from the Company’s acquisition of Schroff Technologies and C Enterprises.

Gross profit for the first quarter was $3.3 million compared to $3.1 million in the first quarter last year. Gross margins were 26.2% of net sales, compared to 29.5% of net sales in the fiscal 2019 first quarter. The decline in margins was primarily due to product mix at the Custom Cabling segment driven by lower margins at the C Enterprises subsidiary.

Total operating expenses increased $0.9 million to $3.3 million (26.2% of net sales) compared to $2.4 million (22.2% of net sales) in the first quarter last year primarily due to the absorption of the additional selling and general expenses of newly acquired Schroff Technologies and C Enterprises. Total operating expenses in the current quarter included 1) $187,000 in stock-based compensation expense, an increase of $73,000 over the first quarter last year, due in part to compensation costs related to the Company’s recently hired Chief Revenue Officer, 2) $173,000 of amortization expense, an increase of $104,000 over last year, as a result of the acquisition of Schroff Technologies and 3) acquisition-related costs of $28,000, also due to the Schroff Technologies acquisition, an increase of $24,000 over last year.

Net income for the first quarter of fiscal 2020 was $26,000, or $0.00 per diluted share, compared to $640,000, or $0.07 per diluted share, in the first quarter last year.

Non-GAAP net income for the first quarter fiscal 2020 was $241,000, or $0.02 per diluted share, compared to $758,000, or $0.08 per diluted share in the first quarter last year. For the first quarter fiscal 2020, non-GAAP adjustments included $187,000 in stock based compensation expense, an increase of $73,000 compared to $114,000 in the first quarter last year. Non-GAAP net income for the first quarter fiscal 2020 also included a $28,000 adjustment for acquisition related costs and expenses associated with the acquisition of Schroff Technologies compared to $4,000 in the first quarter last year.

Adjusted EBITDA for the first quarter fiscal 2020 was $471,000, compared to $1,041,000 in the first quarter last year. For the first quarter fiscal 2020, adjusted EBITDA included $187,000 stock-based compensation expense, and $28,000 in acquisition-related costs and expenses, as described above. Adjusted EBITDA for the first quarter fiscal 2020 also included $173,000 amortization expense, an increase of $104,000 compared to $69,000 in the first quarter last year primarily due to the impact of acquiring Schroff Technologies.

Balance Sheet Data; Dividends

At January 31, 2020, the Company reported working capital of $23.8 million, including cash and cash equivalents of $14.4 million, a current ratio of 5.4-to-1 and no outstanding debt.

At its March 5, 2020 meeting, the Company’s Board of Directors declared a quarterly cash dividend of $0.02 per common share, payable on April 15, 2020 to stockholders of record on March 31, 2020.

Cash dividends are made at the discretion of the Board of Directors, subject to applicable laws, and depend on a number of factors, including the Company’s financial condition, results of operations, capital requirements, plans for future acquisitions, contractual restrictions, general business conditions and other factors considered relevant by our Board of Directors.

Conference Call and Webcast

RF Industries will host a conference call and live webcast today at 1:30 p.m. Pacific Time (4:30 p.m. ET) to discuss its first quarter 2020 financial results. To access the conference call, dial 888-394-8218 (US and Canada) or 323-794-2591 (International). The conference ID is 2522210. In addition, a live and archived webcast of the conference call will be accessible on the investor relations section of the Company’s website at www.rfindustries.com. A phone replay of the conference call will also be available beginning approximately two hours after conclusion of the call and will remain available for two weeks. To access the phone replay, dial 844-512-2921 (US and Canada) or 412-317-6671 (International). The replay conference ID is 2522210.

About RF Industries

RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. The Company’s products include RF connectors, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut and North Kingstown, Rhode Island. Please visit the RF Industries website at www.rfindustries.com.

Forward-Looking Statements

This press release contains forward-looking statements with respect to future events, including higher sales, increased future demand for the Company’s products, and future net sales goals, which are subject to a number of factors that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to: changes in the telecommunications industry; the Company’s reliance on certain distributors and customers for a significant portion of anticipated revenues; the impact of existing and additional future tariffs imposed by U.S and foreign nations; the Company’s ability to execute on its new go-to-market strategies and channel models; its ability to expand its OEM relationships; its ability to continue to deliver newly designed and custom fiber optic and cabling products to principal customers; its ability to maintain strong margins and diversify its customer base; uncertainty regarding the impact of the Coronavirus outbreak on its supply chain; and its ability to address the changing needs of the market.  Further discussion of these and other potential risk factors may be found in the Company’s public filings with the Securities and Exchange Commission (www.sec.gov) including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.  All forward-looking statements are based upon information available to the Company on the date they are published and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.

Note Regarding Use of Non-GAAP Financial Measures

To supplement our condensed financial statements presented in accordance with U.S. generally accepted accounting principles (GAAP), this earnings release and the accompanying tables and the related earnings conference call contain certain non-GAAP financial measures, including adjusted earnings before interest, taxes, depreciation, amortization (Adjusted EBITDA), non-GAAP net income and non-GAAP earnings per diluted share (non-GAAP EPS). We believe these financial measures provide useful information to investors with which to analyze our operating trends and performance.

In computing Adjusted EBITDA, non-GAAP net income, and non-GAAP EPS, we exclude stock-based compensation expense, which represents non-cash charges for the fair value of stock options and other non-cash awards granted to employees, and acquisition related costs and expenses. For Adjusted EBITDA we also exclude depreciation, amortization, and provision for income taxes. Because of varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company’s non-cash operating expenses, we believe that providing non-GAAP financial measures that exclude non-cash expense and non-recurring costs and expenses allows for meaningful comparisons between our core business operating results and those of other companies, as well as providing us with an important tool for financial and operational decision-making and for evaluating our own core business operating results over different periods of time.

Our Adjusted EBITDA, non-GAAP net income, and non-GAAP EPS measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. Our Adjusted EBITDA, non-GAAP Net income, and non-GAAP EPS are not measurements of financial performance under GAAP, and should not be considered as an alternative to operating or net income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. We do not consider these non-GAAP measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of specific adjustments to GAAP results is provided in the last two tables at the end of this press release.

(tables attached)

The post RF Industries Reports Sales Increase of 17% in First Quarter of Fiscal 2020 appeared first on RF Industries.

SAN DIEGO, CA, March 09, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — RF Industries, Ltd, (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced that its Board of Directors has declared a quarterly cash dividend of $0.02 per common share.

The quarterly cash dividend is payable on April 15, 2020 to stockholders of record on March 31, 2020.

Cash dividends are made at the discretion of the Board of Directors, subject to applicable laws, and depend on a number of factors, including the Company’s financial condition, results of operations, capital requirements, plans for future acquisitions, contractual restrictions, general business conditions and other factors considered relevant by the board.

About RF Industries

RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. The Company’s products include RF connectors, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut and North Kingstown, Rhode Island. Please visit the RF Industries website at www.rfindustries.com.

Contacts:

RF Industries

Mark Turfler

SVP/CFO

(858) 549-6340

rfi@rfindustries.com 

MKR Investor Relations Inc.

Todd Kehrli

Analyst/Investor Contact

(323) 468-2300

rfil@mkr-group.com

The post RF Industries Announces 39th Consecutive Quarterly Cash Dividend appeared first on RF Industries.