Richardson Electronics down after downbeat Q4 results

Richardson Electronics

20/07/2023 10:31

** Shares of Richardson Electronics  RELL.O  fall 10.93% to
$13.85 premarket
    ** RELL reports Q4 EPS of 27 cents, down from 59 cents a
year earlier
    ** Q4 net sales down 4.5% after a near 21% slump in net
sales in Power and Microwave Technologies segment 
    ** Q4 gross margin falls to 27.9% vs 32.7% a year ago
    ** Up to last close, RELL has fallen over 27% this year vs a
37.2% increase in the Nasdaq Composite Index  .IXIC 

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))