RF Industries Registers 97% Sales Growth In Q4

RF Industries Ltd RFIL reported fourth-quarter FY21 net sales growth of 97% year-on-year to $21.1 million, beating the Street view of $16.5 million.
Backlog was $33.3 million as of October 31, on Q4 bookings of $22.9 million.
Non-GAAP EPS of $0.10 missed the estimate of $0.12.
Gross profit margin contracted 250 bps Q/Q to 25.3%.
The operating income rose 180% Q/Q to $1.1 million. Adjusted EBITDA was $1.5 million, up 47% Q/Q.
RF Industries held $13.1 million in cash and equivalents.
Robert Dawson, the CEO, commented: "The team did a great job to overcome the headwinds presented by the current state of the supply chain and increases in material and shipping costs."
Outlook: RF Industries sees FY22 sales of over $63 million.
Price Action: RFIL shares traded higher by 0.13% at $7.54 in the premarket session on the last check Wednesday.