Richardson Electronics, Ltd. announced preliminary net sales and backlog results for its fourth quarter and fiscal year ended May 28, 2022, in conjunction with the company’s presentation at the LD Micro Invitational XII Investor Conference on June 8 at 2:30 P.M. PT / 5:30 P.M. ET. 

Preliminary fiscal year 2022 fourth quarter net sales are expected to be between $60.5 and $62.5 million, representing 19.9 to 23.8 percent growth compared to the prior year’s fourth quarter. On a full year basis, net sales are expected to be between $222 and $226 million, representing 25.5 to 27.7 percent growth compared to fiscal year 2021. Sales increased across the company’s three business units for both the fourth quarter and fiscal year from the same periods a year ago due to strong end-market demand and successful new product expansion initiatives. Backlog also increased for the fourth quarter to $206.2 million from $175.6 million at the end of the third quarter, and $110.0 million at the end of the prior year’s fourth quarter.

“We are extremely pleased with the company’s performance in the fourth quarter. In fact, we have now had eight consecutive quarters of sequential sales growth with higher backlog demonstrating strong momentum as we head into fiscal year 2023,” said Richardson Electronics’ Chief Executive Officer Edward J. Richardson. “During the fourth quarter, we continued fulfilling orders for our patented ULTRA3000® Pitch Energy Module, an ultracapacitor-based plug and play replacement for batteries within GE wind turbine pitch systems. Sales to our semiconductor wafer fabrication equipment customers and demand for our power grid and microwave tubes also remained strong. In addition, Canvys, our custom display business, had record quarterly sales during the fourth quarter. We look forward to sharing our full financial results and providing an update on our outlook for fiscal year 2023 when we release fourth quarter and full year results on July 20, 2022.”