Richardson Electronics Reports Q3 EPS of $0.44

Richardson Electronics, Ltd. RELL today reported sales and earnings for its third quarter. Net sales for the third quarter of Fiscal 2011 were $39.7 million, up 18.7% from net sales of $33.4 million during the third quarter of last year. Income from continuing operations during the third quarter of fiscal 2011 was $0.2 million, or $.01 per diluted common share, compared to a loss from continuing operations of $0.7 million during the third quarter of last year. The Company's third quarter results reflect RFPD as a discontinued operation. Income from discontinued operations, net of tax, was $8.0 million, or $0.43 per diluted common share, during the third quarter of fiscal 2011 compared to $5.2 million, or $0.30 per diluted common share, during the third quarter of fiscal 2010. Net income during the third quarter of fiscal 2011 was $8.2 million, or $0.44 per diluted common share, compared to net income of $4.5 million, or $0.26 per diluted common share, for the prior year's third quarter.