Brief: Richardson Electronics Q1 sales fell 10 pct to $33.4 mln

Richardson Electronics

05/10/2016 21:57

Oct 5 (Reuters) - Richardson Electronics Ltd  RELL.O  
    * Richardson Electronics reports first quarter fiscal 2017 
results and declares quarterly cash dividend 
    * As part of reduction in workforce, plan to record $1.3 
million in severance expense in Q2 of fiscal year 2017 
    * Q1 sales fell 10 percent to $33.4 million 
    * Implemented a reduction in workforce in September 2016 
    * Expect to achieve annualized savings of $3.0 million from 
workforce reduction 
    * Qtrly loss per share $ 0.23 
 
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