RF Industries: Falls on Q2 loss, dividend suspension

RF Industries

11/06/2020 23:14

** Electric and telecom cabling service provider's shares
 RFIL.O  fall 13.7% to $5.04 in extended trade
    ** Co posts Q2 net loss of $184,000, or $0.02/shr, vs net
income of $1.1 mln, or $0.11/shr, a year earlier  urn:newsml:reuters.com:*:nASA00TJ2
    ** Q2 net sales fall ~24% to $10.4 mln 
    ** Posts Q2 operating loss of $188,000 vs profit of $1.4 mln
a year earlier due to higher expenses 
    ** Co suspends dividend, says will reconsider payment of
dividend next quarter
    ** Co's operations were hit due to the virus outbreak and it
experienced delays in project-based business; Co hopeful that
the delayed business will reappear in late 2020 or early 2021
    ** Stock down 13.6% YTD 

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))