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RFI Sales Down 22% for Q2

Published: 11 June 2009
 by Staff
SAN DIEGO – RF Industries (RFI) reported second-quarter net sales fell 22% from last year to $3.5 million.
 
For the quarter ended April 30, net income dropped 60% from $542,000 to $214,000.
 
Responding to the drop in sales, RFI implemented cost-saving measures, which included increasing efficiencies, lowering expenses, reducing its workforce and cutting salaries. The measures assisted in raising overall gross margin to 49% of sales, compared to 46% in the first quarter.

“The combined effect doubled second-quarter operating income to $281,000, or 8% of sales, compared to $141,000, or 4% of sales, in the first quarter of fiscal 2009,” says Howard Hill, president and CEO.
 
First-half net sales dropped 15% from last year to $7.1 million. Net income was $377,000, compared to $714,000 last year.
 
RFI designs, manufactures and distributes coaxial connectors for a variety of applications including radio communication, antenna devices and PC LANs.
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