Richardson Electronics climbs on higher prelim Q3 sales

Richardson Electronics

21/03/2023 16:08

** Shares of Richardson Electronics Ltd  RELL.O  rise as
much as 7.1% to $22.150; on track for their biggest intraday pct
jump since Feb. 15
    ** Preliminary Q3 sales are expected to exceed $70 mln, up
27% over a year earlier, the electronics equipment maker says
    ** Company expects Q3 operating income to more than double
at $7.6 mln
    ** Stock hits the highest since March 10
    ** RELL is down 3% so far this year, as of last close

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))