Revenue Update on Richardson Electronics Ltd.(NASDAQ:RELL)

Richardson Electronics Ltd.(NASDAQ:RELL) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during After-hours on Oct 5, 2016. Company reported revenue of $33.37M. Analysts estimated a revenue of $37.60M. Earnings per share were $-0.23. Analysts had estimated an EPS of $-0.06.

Richardson Electronics Ltd. (RELL) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.16% at a volume of 5,133. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.23. The peak price level was also seen at $6.23 while the days lowest was $6.17. Finally the shares closed at $6.19. The 52-week high of the shares is $7.24 while the 52-week low is $4.71. According to the latest information available, the market cap of the company is $80 M.

Several Insider Transactions has been reported to the SEC. On Jan 12, 2016, Gregory J Peloquin (EVP PMT) purchased 1,500 shares at $5.35 per share price.Also, On Oct 19, 2015, Robert J Ben (CFO) purchased 2,500 shares at $5.92 per share price.On Jul 31, 2015, James Benham (director) purchased 5,000 shares at $6.60 per share price, according to the Form-4 filing with the securities and exchange commission.

Richardson Electronics Ltd. is a provider of engineered solutions power grid and microwave tubes and related consumables; power conversion and radio frequency (RF) and microwave components; high value displays flat panel detector solutions and replacement parts for diagnostic imaging equipment and customized display solutions. The Company provides design-in support systems integration prototype design and manufacturing testing logistics and aftermarket technical service and repair solutions. Its segments include Power and Microwave Technologies Group which provides engineered solutions and distributes electronic components to customers in alternative energy aviation broadcast communications industrial marine medical military and semiconductor markets; Canvys which provides customized display solutions to medical industrial and original equipment manufacturers and Healthcare which manufactures distributes and services replacement parts for the healthcare market.

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