RELL News & Events

Richardson Electronics announced a global technology partner agreement with Nxbeam, a millimeter-wave fabless semiconductor company. Under this agreement, Richardson Electronics will partner with Nxbeam to supply customers with a range of high-power microwave MMICs, with frequencies ranging from 12.5 to 76 GHz and output power up to 46 dBm.

Reports Q2 net sales $52.3M, consensus $52M. Net sales increased 5.7% vs. last year. Green Energy Solutions sales grew 39% vs. last year. Canvys sales grew 28.1%vs. last year. Operating income was $100K vs. ($700K) last year. "We delivered solid second-quarter fiscal 2026 revenue growth of 5.7%, led by strong year-over-year performance in our Green Energy Solutions business," said Edward Richardson, chairman, CEO, and president. "Excluding Healthcare, where the majority of assets were divested in January 2025, net sales increased 9%. In a fluid macro environment, higher volumes combined with disciplined cost management drove a significant year-over-year improvement in operating income."

Northland says Richardson Electronics reported a headline beat in Q1, but "not on high quality" as GES sales, which it calls out as its own and investors' "top focus" missed by 18% and profitability beats were mostly from other income. The firm, which thinks shares "trade mixed on this update," has a Market Perform rating and $10 price target on Richardson shares.