First year-over-year reduction in inventory since fiscal 2017, reflecting management’s efforts to improve working capital levels
Fourth quarter gross margin improved 320 basis points year-over-year
Generated $7.2 million in operating cash flow during the fourth quarter, helping the Company end the year with $24.3 million in cash and cash equivalents and no debt
Management expects to return to year-over-year sales growth and higher profitability in fiscal 2025
LAFOX, Ill., July 17, 2024 (GLOBE NEWSWIRE) — Richardson Electronics, Ltd. (NASDAQ: RELL) plans to release its financial results for its fourth quarter ended June 1, 2024 after the close of business on Wednesday, July 24, 2024. The release will be distributed by GlobeNewswire and will be available on the Company’s website at www.rell.com.
On Thursday, July 25, 2024, at 9:00 a.m. Central Time, Edward J. Richardson, Chairman and Chief Executive Officer, and Robert J. Ben, Chief Financial Officer, will host a conference call to discuss the Company’s fourth quarter and fiscal year 2024 results. A question-and-answer session will be included as part of the call’s agenda.
Participant Instructions
Participants may register for the call here. While not required, it is recommended you join 10 minutes prior to the event start. A replay of the call will be available beginning at 1:00 p.m. Central Time on July 25, 2024, for seven days. Registration instructions are also on our website at www.rell.com.
In addition, the webcast link is available here.
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. Nearly 55% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
LaFox, IL, June 17, 2024– Richardson Electronics, Ltd. (NASDAQ: RELL), an industry-leading global provider of engineered solutions and RF and Microwave technologies, will be showcasing its latest technology partners at the 2024 IEEE MTT-S International Microwave Symposium, which will be held from June 16-21, 2024 in Washington, DC. The Richardson Electronics’ RF and Microwave team will be onsite in Booth 1308 to discuss their newest lineup of technology partners. These top-tier partners deliver disruptive technologies worldwide for a wide range of applications.
“We have grown our capabilities, along with new technologies, and our team looks forward to exhibiting at IMS each year. This significant industry event is perfect for engaging with our customers, and technology partners, and showcasing our engineered solutions and technology partners’ latest and greatest products,” said Greg Peloquin, Executive Vice President and General Manager of the Power & Microwave Technologies and Green Energy Solutions groups.
IMS 2024 (IEEE MTT-S International Microwave Symposium) is an in-person conference week dedicated to all things microwaves and RF. It will also include the IEEE MTT-S Radio Frequency Integrated Circuits Symposium (RFIC) and the Automatic Radio Frequency Techniques Group (ARFTG). IMS2024 is the world’s largest gathering and industry exhibition for Microwave professionals. The development of RF, microwave, mm-wave, and THz systems continues to expand in several areas with many applications. To register for IMS 2024, please visit: https://ims-ieee.org/registration.
About Richardson Electronics – Power & Microwave Technologies
For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at www.rellpower.com.
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components, including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
Richardson will be providing their patented Pitch Energy Module technology to Suzlon worldwide.
LaFox, IL, April 30, 2024 – Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for renewable energy and other power management applications, announced a strategic partnership with Suzlon Energy Limited, India’s largest renewable energy solutions provider. Richardson Electronics will develop pitch energy modules for Suzlon’s global fleet of wind turbines, a testament to their engineered solutions expertise and commitment to advancing renewable energy solutions. Suzlon has over 12,000 wind turbines worldwide with over 9,000 in India.
Suzlon is a leading Renewable Energy solutions provider with over ~20.5 GW* of Wind Energy capacity installed across 17 nations. A vertically integrated organization with in-house R&D centers in Germany, the Netherlands, Denmark, and India, Suzlon’s world-class manufacturing facilities are spread across multiple locations in India. Suzlon has a 28-year operational history and nearly 6,300 diverse professionals. As India’s largest Wind Energy service provider, it manages a portfolio of 14.5 GW Wind Energy assets.
Richardson Electronics’ pitch energy modules (patented technology) are drop-in replacements for batteries in pitch systems ranging from 150V to 500V DC and can be installed with no modifications to the battery box. Richardson Electronics’ PEMs work with existing chargers and controllers. These plug-and-play modules are easy to install, increase wind turbine uptime, and reduce labor costs in both time and frequency.
“We are extremely excited about our program with Suzlon. They are an excellent company with an amazing team at all levels. With Richardson Electronics being the world leader in the design and manufacturing of PEMs for the Wind Turbine Market to partner with Suzlon, a world leader in the design and development of wind turbines, it has all the components of a great long-term successful relationship,” stated Greg Peloquin, Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups.
Richardson Electronics will showcase its ultracapacitor pitch energy modules and other product solutions for wind turbine platforms at the upcoming events:
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components, including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and adhere to our supplier terms and conditions. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
About Richardson Electronics – Green Energy Solutions
Richardson Electronics Green Energy Solutions combines our key technology partners and engineered solutions capabilities to design and manufacture key products for the fast-growing energy storage market and power management applications. As a designer, manufacturer, technology partner, and authorized distributor, GES’s strategy is to provide specialized technical expertise and engineered solutions using our core design engineering and manufacturing capabilities on a global basis. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. GES focuses on products for numerous green energy applications such as wind, solar, hydrogen, and electric vehicles and other power management applications that support green solutions such as synthetic diamond manufacturing. For more information, visit us at https://www.rell.com/greenenergysolutions/.
About Richardson Electronics – Power & Microwave Technologies
For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at rellpower.com | relltubes.com | rellaser.com.
About The Suzlon Group
The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.5 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon’s world-class manufacturing facilities are spread across multiple locations in India. With over 28 years of operational track record, the Group has a diverse workforce of over 6,300 employees. Suzlon is also India’s No. 1 wind energy service company with the largest service portfolio of over 14.5 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India. Suzlon offers a comprehensive product portfolio led by the 2 MW and 3 MW series of wind turbines.
*Global installations of Suzlon manufactured wind turbine generators. Data as on 31st December 2023
Suzlon corporate website: www.suzlon.com
RICHARDSON ELECTRONICS REPORTS THIRD QUARTER FISCAL 2024 RESULTS AND DECLARES QUARTERLY CASH DIVIDEND
Sales increased 18.7% sequentially, reflecting improving business conditions.
Inventory decreased $4.0 million sequentially, reflecting focus on improving working capital levels.
LAFOX, Ill., April 3, 2024 (GLOBE NEWSWIRE) — Richardson Electronics, Ltd. (NASDAQ: RELL) plans to release its financial results for its third quarter ended March 2, 2024 after the close of business on Wednesday, April 10, 2024. The release will be distributed by GlobeNewswire and will be available on the Company’s website at www.rell.com.
On Thursday, April 11, 2024, at 9:00 a.m. Central Time, Edward J. Richardson, Chairman and Chief Executive Officer, and Robert J. Ben, Chief Financial Officer, will host a conference call to discuss the Company’s third quarter fiscal year 2024 results. A question-and-answer session will be included as part of the call’s agenda.
Participant Instructions
Participants may register for the call here. While not required, it is recommended you join 10 minutes prior to the event start. A replay of the call will be available beginning at 1:00 p.m. Central Time on April 11, 2024, for seven days. Registration instructions are also on our website at www.rell.com.
In addition, the webcast link is available here.
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. Nearly 55% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
Richardson Electronics will Present at the “Top Tier Track” Featuring a Q&A with Maj Soueidan from Geoinvesting.com on May 1, 2024 at 11:30 A.M. PT
LaFox, IL | ACCESSWIRE | April 3, 2024 – Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for the green energy, power management, custom display, and healthcare markets, today announced that it will be presenting at the Planet MicroCap Showcase: VEGAS 2024 on Wednesday, May 1, 2024 at 11:30 AM (PT). Edward J. Richardson, Chairman and CEO and Wendy Diddell COO of Richardson Electronics, Ltd., will be presenting at the “Top Tier Track” featuring a live Q&A with Maj Soueidan at Geoinvesting.com.
To access the live presentation and Q&A, please use the following information:
Planet MicroCap Showcase: VEGAS 2024
Date: Wednesday, May 1, 2024
Time: 2:30 PM Eastern Time (11:30 AM Pacific Time)
Webcast: https://www.webcaster4.com/Webcast/Page/3026/50119
If you would like to book 1×1 investor meetings with Richardson Electronics, and to attend the Planet MicroCap Showcase: VEGAS 2024, please make sure you are registered here: https://planetmicrocapshowcase.com/signup
1×1 meetings will be scheduled and conducted in person at the conference venue: Paris Hotel & Casino in Las Vegas.
The Planet MicroCap Showcase: VEGAS 2024 website is available here: https://planetmicrocapshowcase.com/
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
Forward-Looking Statements
This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on July 31, 2023, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.
About Planet MicroCap
Planet MicroCap is a global multimedia financial news, publishing and events company focused on news dissemination, providing information, data and analytics for the MicroCap investing community. We have cultivated an active and engaged audience of folks that are interested in learning about and to stay ahead of the curve in the MicroCap space.
If you would like to attend the Planet MicroCap Showcase, please register here: https://planetmicrocapshowcase.com/signup
LaFox, IL – March 18, 2024 – Richardson Electronics, Ltd. (NASDAQ: RELL) announced today a global distribution agreement with Ideal Power (NASDAQ: IPWR) for products including the discrete B-TRAN™ device and SymCool™ power module. Ideal Power is pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN™ bidirectional semiconductor power switch.
“We are excited to announce Richardson Electronics as the first distributor for our products. They have strong technical sales capability, expertise in demand creation and securing sales for new technologies, robust customer support, and global reach. Our products are a perfect fit for Richardson Electronics’ existing customer base needing medium and high voltage power semiconductors,” said Dan Brdar, President and Chief Executive Officer of Ideal Power.
“We are very excited to work with Ideal Power to bring their products to market worldwide. For years, Richardson has developed an excellent portfolio of Technology Partners for power management components and engineered solutions,” said Greg Peloquin, Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups. “Ideal Power’s products are an innovative and complementary addition to this portfolio, providing low loss and inherently bidirectional power semiconductors to customers globally for use in a wide variety of industrial applications.”
Ideal Power recently commenced shipment of its SymCool™ power modules to fulfill customer orders. The SymCool™ power module delivers clear advantages for several applications, including solid-state switchgear and circuit protection, renewable energy inverters for solar and wind, industrial inverters, hybrid and electric vehicles (“EVs”), and EV charging. Ideal Power looks forward to industrial markets, particularly the solid-state circuit breaker market served by our SymCool™ power module, to be the earliest source of our sales ramp beginning in the second half of 2024, as expected.
Ideal Power utilizes an asset-light business model leveraging the large investment already made in the silicon processing, distribution, demand creation and support infrastructure. This business model allows the Company to focus on further developing its disruptive B-TRAN™ technology while minimizing capital requirements.
About Richardson Electronics – Power & Microwave Technologies
For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at www.rellpower.com.
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components, including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
About Ideal Power Inc.
Ideal Power (NASDAQ: IPWR) is pioneering the development and commercialization of its broadly patented bidirectional semiconductor power switch, creating highly efficient and ecofriendly energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, UPS/data center, solid-state circuit breaker and other industrial and military applications. The Company is focused on its patented Bidirectional, Bipolar Junction Transistor (B-TRAN™) semiconductor technology. B-TRAN™ is a unique double-sided bidirectional AC switch that delivers substantial performance improvements over today’s conventional power semiconductors. Ideal Power’s B-TRAN™ can reduce conduction and switching losses, complexity of thermal management and operating cost in AC power switching and control circuitry. For more information, visit the Company’s website at www.IdealPower.com, on LinkedIn, on Twitter, and on Facebook.
LaFox, IL, March 14, 2024 – Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for renewable energy and other power management applications, has reached a significant milestone with the shipment and installation of over 50,000 patented ULTRA3000® pitch energy modules (“PEMs”). PEMs store and manage energy required to adjust the blade angles to ensure effective operation of the wind turbine. This achievement marks the largest retrofit of ultracapacitors for pitch energy modules in North America and is a major step toward the Company’s growth goals within the renewable energy market.
Richardson Electronics’ ULTRA3000® is a drop-in replacement for lead acid batteries used in electric pitch systems within wind turbines. Lead-acid batteries are toxic to the environment if not properly disposed. In addition, the improved life span of the patented ULTRA3000® reduces maintenance requirements and significantly reduces the environmental impact associated with lead acid batteries. To put it into perspective, the Company estimates the impact of installing 50,000 PEMs is equivalent to:
“This milestone is a testament to our team’s dedication and hard work. Our design, manufacturing, and quality approach allowed us to reach this milestone in a very short amount of time. As we celebrate this achievement, we are excited to expand outside of North America with new products designed and engineered for other wind turbine platforms throughout the world,” stated Greg Peloquin, Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups.
Richardson Electronics will showcase its ultracapacitor pitch energy modules and other product solutions for wind turbine platforms on September 24 to 27, 2024, at the WindEnergy Hamburg Event (Hamburg, Germany). With approximately 40,000 attendees from over 100 countries, this show is one of the world’s biggest and most important wind business platforms for exchanging news and views and building networks.
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components, including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and adhere to our supplier terms and conditions. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
About Richardson Electronics – Green Energy Solutions
Richardson Electronics Green Energy Solutions combines our key technology partners and engineered solutions capabilities to design and manufacture key products for the fast-growing energy storage market and power management applications. As a designer, manufacturer, technology partner, and authorized distributor, GES’s strategy is to provide specialized technical expertise and engineered solutions using our core design engineering and manufacturing capabilities on a global basis. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. GES focuses on products for numerous green energy applications such as wind, solar, hydrogen, and electric vehicles and other power management applications that support green solutions such as synthetic diamond manufacturing. For more information, visit us at https://www.rell.com/greenenergysolutions/.
About Richardson Electronics – Power & Microwave Technologie
For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at rellpower.com | relltubes.com | rellaser.com
Brings Increased Capabilities to the Company’s Portfolio of RF and Microwave Products
LaFox, IL – January 24, 2024 – Richardson Electronics, Ltd. (NASDAQ: RELL) announced today a global agreement has been reached with Microwave Components, Inc. (MCI).
Microwave Components, Inc. of Dracut, Massachusetts is a Veteran-owned, U.S. company that has been a leading manufacturer of custom miniature electronic air coils since 1978. MCI coils are manufactured to meet its customers’ specifications. MCI’s High Q, miniature air coils are used in a variety of RF and Microwave applications all of which require high performance, reliable and repeatable inductors.
This agreement supports Richardson Electronics’ strategy to partner with technology leaders in passive components and that are synergistic with the Company’s various active technology partners for both component designs and engineered solutions.
“The agreement with MCI expands our portfolio with products that are critical to our customer base,” said Greg Peloquin, Executive Vice President of Richardson Electronics’ Power and Microwave Technologies and Green Energy Solutions groups. “Knowing that MCI shares our commitment to leading technology, quality and customer satisfaction makes it a perfect fit for our Company growth strategy.”
“Microwave Components, Inc., is very excited to begin this partnership with Richardson Electronics, Ltd. As MCI continues to grow, we are not only looking to expand our footprint within North America, but internationally as well. RELL’s global sales channel enables MCI to provide international customers with the same hands-on, customer-focused experience that our domestic customers have come to expect when designing in and purchasing MCI’s miniature air core inductors. RELL’s large RF and microwave components product portfolio, coupled with their commitment to customers, made this partnership a perfect fit for MCI,” said Robin Nazarian, CEO of Microwave Components, Inc.
Richardson Electronics provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair on a global basis.
About Richardson Electronics – Power & Microwave Technologies
For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at www.rellpower.com.
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
About Microwave Components, Inc.
Microwave Components, Inc. is a leading manufacturer of miniature air coils. MCI was incorporated in 1978 and is located in Dracut, Massachusetts. MCI provides custom coils primarily for signal conditioning in Hi-rel broadband applications. MCI recognizes the responsibility associated with products for these applications and supplies products on time, with repeatable performance. Most importantly, MCI will NEVER end of life (EOL) any product for convenience. As long as the raw materials are available, MCI will build the custom part number, regardless of the last time it was ordered or manufactured. More information is available at www.mcicoils.com.
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