Richardson Electronics Ltd reports results for the quarter ended May 31 - Earnings Summary

• Richardson Electronics Ltd RELL reported quarterly adjusted earnings of 8 cents​​ per share for the quarter ended May 31, higher than the same quarter last year, when the company reported EPS of -1 cents. The mean expectation of two analysts for the quarter was for earnings of 10 cents per share. Wall Street expected results to range from 7 cents to 13 cents per share.

• Revenue rose 9.5% to $51.89 million from a year ago; analysts expected $53.86 million.

• Richardson Electronics Ltd's reported EPS for the quarter was 8 cents​.

• The company reported quarterly net income of $1.08 million.

• Richardson Electronics Ltd shares had risen by 1.3% this quarter and lost 30.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts was unchanged in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electronic equipment & parts peer group is "buy."

• Wall Street's median 12-month price target for Richardson Electronics Ltd is $9.50, about 2.9% below its last closing price of $9.78

This summary was machine generated from LSEG data July 24 at 02:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)