Richardson Electronics, Ltd. reported a net sales increase of 6.3% for the fiscal year ending May 31, 2025, reaching $208.9 million compared to $196.5 million in the previous fiscal year. The company's gross margin improved slightly to 31.0% from 30.5% in fiscal 2024. However, the company experienced an operating loss of $2.5 million, a decline from an operating income of $0.3 million in the prior year. The net loss for the year was $1.1 million, contrasting with a net income of $0.1 million in fiscal 2024.
The fiscal year was marked by significant changes, including the sale of a substantial portion of the Healthcare business to DirectMed Imaging, LLC, which resulted in a total loss of $5.1 million. This transaction included an exclusive 10-year supply agreement for CT X-ray tubes, which will continue to be manufactured by Richardson. The sale impacted the Healthcare segment's performance, which saw a 23.1% decline in sales to $9.3 million, down from $12.1 million in fiscal 2024.
Operationally, Richardson Electronics reported a diverse performance across its segments. The Power and Microwave Technologies (PMT) segment saw a 7.0% increase in sales to $137.8 million, driven by higher demand for engineered solutions in semiconductor fabrication. The Green Energy Solutions (GES) segment experienced a notable 23.6% increase in sales, attributed to market share gains and new product introductions. Conversely, the Canvys segment's sales rose modestly by 2.2%, while the Healthcare segment's decline was primarily due to the asset sale.
Geographically, North America accounted for 43.6% of total sales, with a 17.9% increase to $91.1 million. Sales in Europe rose by 5.6% to $64.9 million, while Asia/Pacific sales decreased by 4.5% to $43.2 million. The company continues to focus on expanding its international presence, with approximately 56% of sales generated outside the United States. Looking ahead, Richardson Electronics anticipates leveraging its recent strategic decisions to enhance growth, particularly in the green energy sector, while navigating the challenges posed by market conditions and regulatory environments.
About RICHARDSON ELECTRONICS, LTD.
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