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Richardson Posts Loss, Reports Sales Up

Richardson Posts Loss, Reports Sales Up

Richardson Electronics Ltd. said sales were up 4.7% for the year, although it posted a loss when certain accounting charges were included.
The company, traded on NASDAQ, reported results for its fourth quarter and fiscal year ended May 31.
Its RF/Wireless Communications sales grew 9.9% to $222.4 million for the fiscal year. It said it enjoyed record sales achieved in its Security Systems Division and Display Systems Group.
For fiscal 2003, sales were $464.5 million, an increase of 4.7% over the prior year. It posted a loss for the year before the cumulative effect of accounting change of $9.7 million, or $0.70 per share. Net loss for the year was $27.6 million, or $2 per share.