Richardson Reports 3rd Quarter Earnings

Richardson Reports 3rd Quarter Earnings
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Richardson Electronics, Ltd., reported results for the third quarter of fiscal 2001. Revenues were $125.5 million, a 27% increase over the third quarter of 2000. Net earnings were $4.2 million, a 65% gain over the third quarter of fiscal 2000. The company recorded sales of $376.7 million in the nine months, up 29% from the prior year.
Four out of Richardson’s five strategic business units recorded sales growth, led by the RF & Wireless Communications Group, up 63% to $64.5 million. All geographic regions also posted sales growth, led by a 57% increase in revenue in Asia-Pacific.
During the third quarter Richardson announced the acquisition of Aviv Electronics of Israel, a distributor specializing in design-in services for active and passive electronic components, which will be known as Aviv Richardson Ltd.

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