Attached files
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| 8-K - R F INDUSTRIES LTD | v206808_8k.htm |
EXHIBIT
99.1
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RF INDUSTRIES,
LTD.
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For Immediate
Release
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RF Connector &
Cable Assembly / RF Wireless
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Investor
Contact:
Neil
Berkman Associates
(310)
826 - 5051
info@berkmanassociates.com
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Company
Contact:
Howard
Hill, President
(858)
549-6340
rfi@rfindustries.com
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RF
Industries Reports Preliminary Unaudited Results for the
Fourth
Quarter and Fiscal Year Ended October 31, 2010
Fourth
Quarter Revenue Increased 30% to Approximately $5,000,000;
Net
Income Advanced 60% to Over $400,000
Unaudited
Fiscal 2010 Revenue Up 14% to Approximately $16,300,000
Unaudited
Net Income Increases 80% to Over $1,200,000
SAN DIEGO, CALIFORNIA,
December 28, 2010 . . . RF
Industries Ltd. (NASDAQ:RFIL) today announced preliminary unaudited
financial results for the quarter and year ended October 31, 2010.
For the
fourth quarter ended October 31, 2010, preliminary unaudited revenue increased
30% to approximately $5,000,000 and preliminary unaudited net income advanced
60% to over $400,000. In the comparable fourth quarter of fiscal
2009, the Company reported fourth quarter revenue of $3,811,000 and net income
of $268,000.
For the
full fiscal year ended October 31, 2010, preliminary unaudited revenue increased
14% to approximately $16,300,000 and preliminary unaudited net income grew by
80% to $1,200,000. For the full 2009 fiscal year, the Company
reported sales of $14,213,000 and net income of $656,000.
"The
strong fourth quarter sales have continued into the first quarter, typically our
seasonally weakest quarter of the fiscal year. We currently expect
that sales gains, particularly at our RF Connectors and Cable Assembly Division,
will lead to improved revenue and net income for the first quarter ending
January 31, 2011, compared to the same quarter in fiscal 2010," said Howard
Hill, RFI's CEO and President.
RFI
expects to report audited results for fiscal 2010 in mid-to-late January,
2011.
About
RF Industries
RF Industries conducts operations
through six related divisions. The RF Connectors and
Cable Assembly segment designs and distributes radio frequency (RF) coaxial
connectors and cable assemblies used for Wi-Fi, PCS, radio, test instruments,
computer networks and antenna devices. This business segment includes
Aviel
Electronics, which provides custom microwave and RF Connector solutions to
aerospace, OEM and Government agencies and Oddcables.com,
formerly known as Worswick, which provides coaxial connectors and cable
assemblies primarily to retail and local multi-media and communications systems
customers. Bioconnect, which
constitutes the Medical Cabling and Interconnector segment, designs,
manufactures and distributes specialized electrical cabling and interconnect
products to the medical monitoring market. The RF Wireless segment
includes Neulink, which
designs and markets wireless digital data transmission products for industrial
monitoring, wide area networks, GPS tracking and locations systems and RadioMobile, an OEM
provider of end-to-end mobile wireless network solutions for public safety,
emergency medical, transportation and industrial customers.
Forward-Looking
Statements
This
press release contains forward-looking statements with respect to future events
which are subject to a number of factors that could cause actual results to
differ materially. All forward-looking statements are based upon
information available to the Company on the date they are published and the
Company undertakes no obligation to publicly update or revise any forward-
looking statements to reflect events or new information after the date of this
release.
* * * * *