RELL

EX-99.1

2 rell-ex99_1.htm

EX-99.1

EX-99.1

EXHIBIT 99.1

Press Release

For Immediate Release

For Details Contact:

40W267 Keslinger Road

Edward J. Richardson

Robert J. Ben

PO BOX 393

Chairman and CEO

EVP & CFO

LaFox, IL 60147-0393 USA

Phone: (630) 208-2320

(630) 208-2203

(630) 208-2200 | Fax: (630) 208-2550

RICHARDSON ELECTRONICS REPORTS STRONG FIRST QUARTER RESULTS; DECLARES QUARTERLY CASH DIVIDEND

First quarter net sales increased 18.9% year over year, with growth across all three business units

First quarter net income increased 112.6% to $4.1 million, or $0.27 per common share (diluted)

Company generated free cash flow of $4.2 million for first quarter

Backlog at August 29, 2026 was $184.4 million, up 36.9% year-over-year

LaFox, IL, OCTOBER 7, 2026: Richardson Electronics, Ltd. (NASDAQ: RELL) today reported financial results for its first quarter ended August 29, 2026. The Company also announced that its Board of Directors declared a $0.06 per share quarterly cash dividend.

“Fiscal 2027 is off to an excellent start, as Richardson Electronics delivered its ninth consecutive quarter of year-over-year sales growth, expanded levels of profitability, and generated strong free cash flow. First-quarter performance continued to reflect strong demand in Power and Microwave Technologies (PMT), particularly for engineered solutions serving the semiconductor wafer fabrication equipment market, as well as distributed RF and microwave products. We also experienced significant growth in Green Energy Solutions (GES) and Canvys. Overall, our team delivered another strong operating performance,” said Edward J. Richardson, Chairman, Chief Executive Officer, and President.

“Our backlog ended the first quarter at $184.4 million, which increased year-over-year by nearly $50 million, or 36.9%, and the highest level in more than three years. While the broader economic environment remains fluid, we remain focused on driving the adoption of our engineered solutions, increasing efficiency, and executing against our long-term strategic growth priorities. We believe fiscal 2027 will be another year of profitable growth supported by the highest level of backlog in more than three years, and continued customer demand across semiconductor manufacturing, power management, energy storage, defense and specialized display solutions,” Mr. Richardson concluded.

First Quarter Results

Net sales for the first quarter of fiscal 2027 were $64.9 million, an 18.9% increase from $54.6 million in the prior year’s first quarter. All business units experienced strong year-over-year sales growth.

PMT sales increased $7.7 million, or 19.7% due to strong growth in semiconductor wafer fab and RF and Microwave products. GES sales increased $2.0 million, or 27.1% as a result of higher sales of wind products and new products, including Battery Energy Storage Systems (BESS). Canvys’ sales increased $0.6 million, or 7.9%, reflecting higher sales in North America.

Backlog grew 12.2% to $184.4 million at the end of the first quarter of fiscal 2027 versus $164.4 million at the end of fiscal 2026, primarily driven by an increase in PMT. GES backlog improved by 10.2%.

Gross margin for the first quarter was 34.6% of net sales, compared to 31.0% during the first quarter of fiscal 2026. In the first quarter of fiscal 2027, gross margin was impacted 1.7% due to an IEEPA Tariff Refund. PMT gross margin increased to 35.4%, compared to 31.3%, as a result of product mix and the IEEPA Tariff Refund. GES gross margin increased to 32.6%, from 29.6% due to product mix that included new products. Canvys gross margin increased to 33.0%, from 30.9% primarily due to the IEEPA Tariff Refund.

Operating expenses were $17.4 million, compared to $16.0 million in the first quarter of fiscal 2026. The increase in operating expenses resulted primarily from higher employee compensation expenses, including incentives driven by the strong sales growth, and higher travel expenses. As a percentage of net sales, operating expenses improved to 26.8% in the first quarter of fiscal 2027, versus 29.2% in the prior year’s first quarter.

Operating income was $5.1 million for the first quarter of fiscal 2027, compared to an operating income of $1.0 million in the prior year’s first quarter. Other expense for the first quarter of fiscal 2027, including interest income, foreign exchange and other, net, were $0.1 million, compared to other income of $1.4 million in the first quarter of fiscal 2026.

Income tax provision was $1.0 million for the first quarter of fiscal 2027, versus an income tax provision of $0.4 million in the prior year’s first quarter. The effective tax rate for the first quarter of fiscal 2027 was 19.6%.

Net income was $4.1 million for the first quarter of fiscal 2027, compared to net income of $1.9 million for the first quarter of fiscal 2026. Earnings per common share (diluted) were $0.27 in the first quarter of fiscal 2027, compared to earnings per com

EX-99.1

2 rell-ex99_1.htm

EX-99.1

EX-99.1

EXHIBIT 99.1

Press Release

For Immediate Release

For Details Contact:

40W267 Keslinger Road

Edward J. Richardson

Robert J. Ben

PO BOX 393

Chairman and CEO

EVP & CFO

LaFox, IL 60147-0393 USA

Phone: (630) 208-2320

(630) 208-2203

(630) 208-2200 | Fax: (630) 208-2550

RICHARDSON ELECTRONICS REPORTS STRONG FOURTH QUARTER AND FISCAL 2026 RESULTS; DECLARES QUARTERLY CASH DIVIDEND

Fourth quarter net sales increased 27.6% year over year, with growth across all three business units

Fourth quarter GAAP net income increased 244.4% to $3.7 million, or $0.25 per common share (diluted)

Fiscal 2026 net sales increased 9.4%, marking the Company’s second consecutive year of annual sales growth

Backlog reached $164.4 million, its highest level in three years and an increase of 8.7% from the third quarter

LaFox, IL, JULY 22, 2026: Richardson Electronics, Ltd. (NASDAQ: RELL) today reported financial results for its fourth quarter and fiscal year ended May 30, 2026. The Company also announced that its Board of Directors declared a $0.06 per share quarterly cash dividend.

“I am pleased to report that Richardson Electronics delivered its eighth consecutive quarter of year-over-year sales growth, and the highest quarterly net sales since the third quarter of fiscal 2023. Fourth-quarter performance reflected strong demand in Power and Microwave Technologies, particularly for engineered solutions serving the semiconductor wafer fabrication equipment market, as well as distributed RF and microwave products. We also continued to see growth in Green Energy Solutions and Canvys had a record quarter. For the full fiscal year, our team executed well, delivering sales growth, improved gross margin, and stronger operating performance,” said Edward J. Richardson, Chairman, Chief Executive Officer, and President.

“Our backlog ended the year at its highest level in three years, reflecting continued customer activity across several of our key markets. We are encouraged by the opportunities we see in power management, semiconductor manufacturing, defense, energy storage, and customized display solutions. While the broader economic environment remains fluid, our strong balance sheet, technical capabilities, and focus on higher-value engineered solutions position us well to build on the progress achieved in fiscal 2026 and create sustainable long-term value for our shareholders,” Mr. Richardson concluded.

Fourth Quarter Results

Net sales for the fourth quarter of fiscal 2026 were $66.2 million, a 27.6% increase from $51.9 million in the prior year’s fourth quarter. All business units experienced strong year-over-year sales growth.

PMT sales increased $10.4 million, or 28.1% due to strong growth in semiconductor wafer fab and RF and Microwave products. GES sales increased by $1.1 million, or 20.4% as a result of higher sales of Wind products. Canvys’ sales increased $2.8 million, or 29.5%, reflecting higher sales in North America.

Backlog grew 8.7% to $164.4 million at the end of the fourth quarter of fiscal 2026, versus $151.2 million at the end of the third quarter of fiscal 2026, primarily driven by an increase in PMT. Total GES backlog improved by nearly 5%.

Gross margin for the fourth quarter was 31.2% of net sales, compared to 31.6% during the fourth quarter of fiscal 2025. PMT gross margin decreased to 31.1%, compared to 31.4%, as a result of product mix. GES gross margin decreased to 30.2%, from 31.6% also due to product mix. Canvys gross margin increased to 32.3%, from 32.1% primarily due to improved freight costs as a percentage of net sales.

Operating expenses were $17.6 million, compared to $15.6 million in the fourth quarter of fiscal 2025. The increase in operating expenses resulted from higher salaries and incentives driven by the significant sales growth in both the fourth quarter and fiscal year 2026. Also, included in operating expenses for the fourth quarter of fiscal 2026 was a $0.4 million unclaimed property state audit settlement. As a percentage of net sales, operating expenses improved to 26.6% in the fourth quarter of fiscal 2026 versus 30.0% in the prior year’s fourth quarter.

Gain on disposal of assets of $0.8 million resulted from the sale of healthcare equipment and inventory related to ALTA products, which are no longer being manufactured and sold.

Operating income was $3.9 million and non-GAAP operating income* was $3.5 million for the fourth quarter of fiscal 2026, compared to an operating income of $0.6 million and non-GAAP operating income* of $0.8 million in the prior year’s fourth quarter. Other income for the fourth quarter of fiscal 2026, including interest income and foreign exchange was $0.3 million, compared to other income of $1.3 million in the fourth quarter of fiscal 2025.

Income tax provision was $0.4 million and non-GAAP income tax provision* was $0.7 million for the fourth quarter of fiscal 2026, versus an income tax provision of

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