RF Industries Non-GAAP EPS of $0.12 misses by $0.01, revenue of $23.84M beats by $1.98M

Sep. 14, 2022 4:11 PM ETRF Industries, Ltd. (RFIL)By: Pranav Ghumatkar, SA News Editor
  • RF Industries press release (NASDAQ:RFIL): Q3 Non-GAAP EPS of $0.12 misses by $0.01.
  • Revenue of $23.84M (+56.2% Y/Y) beats by $1.98M.
  • Backlog of $30.6 million at July 31, 2022 on third quarter bookings of $26.8 million. As of today, backlog stands at $31.0 million.
  • Gross profit margin was 30%, compared to 28% in the preceding second quarter, and 28% in the third quarter of fiscal 2021.
  • Adjusted EBITDA was $2.1 million, compared to adjusted EBITDA of $1.0 million in the third quarter of fiscal 2021.
  • Cash and cash equivalents were $5.1 million as of the end of the third quarter, and the Company's full $3.0 million revolver remains available.
  • 2022 Outlook: Full year net sales of between $83 million to $85 million, which would represent growth of at least 45% year over year.
  • Gross margin improvement for the full year as we continue to drive margin improvement opportunities and a better product mix

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