RF Industries, Ltd. (RFIL) research, news, and more from GeoInvesting

Company description

Fri, 11 Feb 2011 05:00:00 GMT

RF Industries conducts operations through six related divisions. The RF Connectors and Cable Assembly segment designs and distributes radio frequency (RF) coaxial connectors and cable assemblies used for Wi-Fi, PCS, radio, test instruments, computer networks and antenna devices. This business segment includes Aviel Electronics, which provides custom microwave and RF Connector solutions to aerospace, OEM and Government agencies, and Oddcables.com, formerly known as Worswick, which provides coaxial connectors and cable assemblies primarily to retail and local multi-media and communications systems customers. Bioconnect, which constitutes the Medical Cabling and Interconnector segment, designs, manufactures and distributes specialized electrical cabling and interconnect products to the medical monitoring market. The RF Wireless segment includes Neulink, which designs and markets wireless digital data transmission products for industrial monitoring, wide area networks, GPS tracking and locations systems, and RadioMobile, an OEM provider of end-to-end mobile wireless network solutions for public safety, emergency medical, transportation and industrial customers

Research

Tue, 17 Mar 2026 14:28:27 GMT

$RFIL ($11.69; $125.2M market cap) announced Q1 2026 results:

Q1 sales of $19.0 million vs. $19.2 million in the prior year, above analyst estimates of $18.7 million
Q1 2026 adjusted EPS: $0.06 vs. $0.04 in the prior year, above analyst estimates of $0.03

Management Commentary:

"Our first quarter results demonstrated continued progress in strengthening the profitability and operating discipline of RF Industries while overcoming the normal seasonality. Net sales in the first quarter were $19 million kicking off a solid start to fiscal year 2026. The key takeaway this quarter was the meaningful improvement in our profitability. While sales were basically flat year-over-year, our gross profit margin improved 250 basis points, which translated into operating income that more than tripled to $177,000 and adjusted EBITDA that increased 22% to $1.1 million. This quarter's strong performance reflected better price realization across our portfolio along with operational efficiencies, and our ongoing focus on cost control," said Robert Dawson, Chief Executive Officer of RF Industries.

"I'm extremely pleased with our team's strong execution on our strategic plan to diversify our customer base and end markets, while staying laser-focused on increasing profitability. When I look at our roster of customers, I believe we are gaining traction with many new and well-known names both in and beyond our traditional markets. If we successfully continue to move into new verticals - wireline, cable, aerospace, and datacenters - our opportunity set should expand significantly. Furthermore, I believe that our higher value solutions are grabbing attention and showing momentum across several end markets and applications. Following a landmark fiscal 2025, our team is even more excited about 2026. We feel confident that we can execute against our strategic priorities, and similar to 2025, with the significant increase in our backlog, we expect revenue growth to accelerate in the back half of the year," concluded Dawson.

Our Quick Take:

Big increase in backlog. As of today, RFIL’s backlog stood at $18.6M, which improved sequentially from $12.4M when they released their Q4 results on Jan 14, 2026. According to management, this positions the company for a strong H2, meaning that the next quarter will probably be a little weak.

Management is still focusing on diversifying beyond its legacy markets (wireline, cable, aerospace, and datacenters) and even stated that this could potentially expand its opportunity set significantly.

RF Industries, Ltd. designs, manufactures, and sells interconnect products, including coaxial connectors, custom copper and fiber cable assemblies, thermal control systems, and RF signal distribution components for telecommunications, networking, medical, and industrial applications.

Research

Thu, 15 Jan 2026 19:14:07 GMT

RF Industries (NASDAQ:RFIL) ($7.21; $76.9M market cap) announced Q4 2025 results:

Q4 sales of $22.7 million vs. $18.5 million in the prior year, above analyst estimates of $19.4 million
Q4 2025 adjusted EPS: $0.20 vs. $0.04 in the prior year, well ahead of analyst estimates of $0.11 (The company adds back income tax expense, this equates to about $0.05)
FY 2025 sales of $80.6 million vs. $64.9 million in FY 2024, above analyst estimates of $77.3 million
FY 2025 adjusted EPS: $0.40 vs. loss of ($0.09) in FY 2024, well ahead of analyst estimates of $0.29
Backlog at quarter-end was $15.5 million; current backlog stands at $12.4 million
Gross margin improved to 37% in Q4, exceeding the company’s 30% near-term target
Inventory decreased 7% year-over-year to $13.7 million
Net debt reduced by $4.6 million year-over-year

Management Commentary:

"Net sales were $22.7 million, an increase of 23% year-over-year. In the past several quarters, we have discussed how our strategic transformation continued to deliver operating leverage and it really showed up in Q4. Our quarterly results were diverse by customer, product, and market segment with solid contributions across our broad portfolio," said Robert Dawson, Chief Executive Officer of RF Industries.

"Fiscal 2025 feels like a breakout year for RFI and we hope to continue that momentum into FY2026. Our team plans to continue to execute our long-term strategic plan to squarely position RFI from a product seller to a technology solutions provider. In fiscal 2026, we remain intensely focused on diversifying our end markets, driving further customer and market penetration, and launching new products and solutions. I'm proud of our team and appreciate their hard work and commitment to delivering on our goals and driving shareholder value," concluded Dawson.

Research

Fri, 12 Sep 2025 15:22:34 GMT

RF Industries (NASDAQ:RFIL) ($8.53; $91.1M market cap) announced Q3 2025 results:

Q3 sales of $19.8 million vs. $16.8 million in the prior year
Q3 2025 adjusted EPS: $0.10 vs. loss of $0.01 in the prior year
Backlog at quarter-end: $19.7 million; current backlog: $16.1 million
Q3 bookings: $24.5 million

"Our team continued to execute very well in our fiscal third quarter. Net sales increased 17.5% to $19.8 million year-over-year, and our gross profit was 34%, well above our target goal of 30%. For four consecutive quarters, we have delivered an operating profit, which was $720,000 in the third quarter versus a loss of $419,000 in the third quarter of 2024, and adjusted EBITDA was $1.6 million, which is 8% of net sales. While adjusted EBITDA as a percentage of net sales may vary from quarter to quarter depending on product mix and shipments, our performance in Q3 supports our conviction that our goal of adjusted EBITDA of at least 10% is within reach," said Robert Dawson, Chief Executive Officer of RF Industries.

"There are several reasons to feel confident that our long-term strategy to become a technology-solutions provider is working. While we are performing well across several product lines, we are pleased that our higher value solutions like DAC thermal cooling and small cell products continue to gain traction with both our traditional Tier 1 customers and in new and exciting end markets. I am tremendously proud of how our team has successfully further diversified our customer base while providing world-class service to current markets and customers. It's exciting to say that the aerospace, transportation, and data center markets are now contributors in our sales pipeline, and we are well positioned for the next wave of new stadium and venue buildouts for world-class events like the Olympics and the World Cup."

"The RFI team has also worked hard over the past few years to lower our cost structure to the point of achieving operating leverage while maintaining the quality that is the hallmark of RFI's reputation. Like many companies, we are carefully navigating an uncertain environment including tariffs and general economic conditions, yet we feel that we have solid momentum as we wrap up a long-awaited breakout year in fiscal 2025," concluded Dawson.

Conference call quotes:

“One year later, we can proudly say that fast-growing markets like aerospace, transportation and data centers are now contributing to our sales pipeline in addition to our strong standing in our traditional markets. Ray will go into more detail on our product innovation, go-to-market strategy and trends we're seeing across our end markets.

For example, a major manufacturer of electronic cabinet and enclosures identified our DAC systems as a solution for edge data center installations, which are small, decentralized facilities located closer to where data is generated and consumed. While hyperscale data centers are multi-billion-dollar installations requiring technologies like liquid cooling systems, facilities on the edge also need energy-efficient cooling. RFI has a great solution for this, and we currently have market trials in process.”

Our Quick Take:

It is clear that RFIL has finally accomplished its task of diversifying its end markets so that it is not just relying on its somewhat volatile and cyclical legacy telecom markets. We are most excited about tracking the company’s DAC product penetration into new markets, even as it relates to legacy customers.

That said, management commentary still leaves the door open to variability in quarterly financial performance. This is most likely due to the company’s legacy business. We would assume as sales in new markets begin to increase this would be less of an issue for the company.

At the current annualized EPS run rate, we would feel the stock is reasonably valued at around $10 in the short run. In our August 2025 Forum, we discussed the RFIL opportunity.

Research

Tue, 17 Jun 2025 15:03:20 GMT

RF Industries, Ltd. (NASDAQ:RFIL) ($4.47; $47.7M market cap) announced Q2 2025 results:

Q2 sales of $18.9 million vs. $16.1 million in the prior year
Q2 EPS: $0.07 (non-GAAP) vs. $0.01 (non-GAAP) in the prior year
Q2 gross margin of 31.5% vs. 29.9% prior year
Q2 bookings of $18.7 million; quarter-end backlog of $15.0 million, currently $18.4 million

RFIL was one of the initial 7 stocks on the Data Center Screen when we launched on May 20, 2025. It should be noted that it seems to still be in the exploratory phase in data center penetration. The Data Center Screen now currently includes 10 stocks, with a few more in the pipeline.

Notable press release commentary:

"Following an exceptionally strong first quarter, our team closed out a very successful second quarter that continued to reflect RFI's evolution from a cable and connector company to a valued partner offering innovative, data and technology-driven solutions for diverse end markets including the wireless carrier ecosystem... We are pleased with the momentum we saw in Q2, and with our growing backlog, we anticipate that momentum will continue into the back half of the year," said Robert Dawson, Chief Executive Officer of RF Industries.

"We continue to move the Company in a positive direction and today believe we have the greatest opportunity for growth that I have seen in recent years... Our team is executing at a high level to better serve existing customers and to expand our reach to new customers and new end markets…

…We are on a different and faster track than the old RFI, yet our foundational values remain the same. We are proud that the majority of our production and manufacturing is U.S.-based and powered by an American workforce. Our supply chain is also diversified and primarily based in the U.S. While there continues to be uncertainly around the ultimate impact of the tariffs, we are executing on our plan and achieving the targets that we set earlier this year with enthusiasm and optimism," concluded Dawson.

Conference call notes confirm Data Center angle opportunity:

“Our direct air cooling, or DAC systems are also gaining momentum in the market. In this category, we're continuing to push the boundaries with new innovations to enhance efficient, cost-effective cooling solutions that can cut energy consumption while reducing repair and replacement costs versus traditional HVAC systems. We recently launched a next-gen system that features advanced control capabilities and a NEMA 4 certification for more rugged environments. These new developments expand our opportunity set into wireline telecom, edge data centers, as well as energy and transportation applications.”

“To elaborate on one example application that I've mentioned in recent calls, AI is driving the overall demand for data centers, and more equipment is being pushed to the edges of the network into the small buildings, cabinets and enclosures that house equipment there. This equipment must be cooled to operate effectively and consistently, and our DAC systems offer high-efficient, climate-durable cooling that is both eco-friendly and at a lower cost than traditional systems.”

Research

Thu, 10 Jan 2019 17:59:18 GMT

Rf Industries Ltd. (NASDAQ:RFIL)($8.05; $74.8M market cap) designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. The company issued a new investor presentation via 8k this morning. There are two key slides:

The Company highlighting its opportunity in 5G

3 year outlook:

With trailing 12 month revenues of $50.2 million, the 3 year plan calls for the Company to double in size. Management expects 10% to 15% organic growth, as well as growth via merger and acquisitions.

Please see our past full reasons for tracking RFIL here.

Research

Wed, 01 Aug 2018 15:32:20 GMT

Rf Industries Inc. ($9.95, $91M market cap) and Optical Cables Corp. ($3.80, $29.2M market cap) - We are watching both RFIL and OCC very closely due the recent earnings report from Encore Wire Corp (NASDAQ:WIRE). WIRE also had bullish commentary in its release that can likely be applied to the entire industry:

"The U.S. economy appears strong, as is construction activity. Based on discussions with our distributor customers and their contractor customers, we believe there is a good outlook for construction projects for the next year. We believe our superior order fill rates continue to enhance our competitive position. As orders come in from electrical contractors, the distributors can count on our order fill rates to ensure quick deliveries from coast to coast."

We believe that, based on their most recent press releases, that RFIL and OCC could have good reports for Q2. While we assess if the momentum that these two companies are experiencing will last more than a couple of quarters, we are getting the initial impression that there may be a longer-term positive tailwinds at hand. RF Industries, Ltd. is engaged in the design, manufacture and marketing of interconnect products and systems. Optical Cable Corporation is a manufacturer of a range of fiber optic and copper data communication cabling and connectivity solutions primarily for the enterprise market

Research

Mon, 11 Jun 2018 14:51:30 GMT

Rf Industries Ltd. (NASDAQ:RFIL)($6.25, was marked up 30% pre market; $56.0M market cap) designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. RFIL announced Q2 2018 results:

$22.4 million vs $7.6 million in the prior year
EPS of $0.34 vs $0.01 in the prior year

Quotes from management:

"Q2 was a big quarter for us and while we strive to set records every quarter, I'm aware that there will be ebbs and flows from quarter to quarter as we execute on our growth strategies. While we still have a lot of work to do, I'm confident in our ability to perform and believe that now is the time to invest in the business as we build a platform for long-term, sustainable and profitable growth.

Please see our past full reasons for tracking RFIL here.

Reasons For Tracking

Thu, 02 Nov 2017 15:00:31 GMT

Rf Industries Ltd. (NASDAQ:RFIL)($2.45; market cap $21.7M) designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. RFIL was actually a past GeoBargain that posted a high return of 68% during our coverage period before its removal from the list in November of 2013. We are now placing RFIL back on our radar due:

Management’s cost control efforts that seem to paying off (under a new CEO)
Insider buying
Recent strong bottom line results

Please see our full reasons for tracking RFIL here.

Comments & Business Outlook

Fri, 03 Jan 2014 05:00:00 GMT

Fourth Quarter 2013 Results

For the fourth quarter ended October 31, 2013, preliminary unaudited revenues decreased $0.9 million, or 9%, to $8.4 million as compared to $9.3 million in the same quarter of fiscal 2012.
Preliminary unaudited income from continuing operations for the 2013 fourth quarter was $0.9 million, or $0.12 per basic and $0.11 per diluted share, compared to $0.9 million, or $0.13 per basic and $0.12 per diluted share in the fourth quarter of 2012.

As previously announced, the company recently sold both divisions that constituted the Company’s RF Wireless segment (RF Neulink was sold on July 31, 2013, and RadioMobile was sold on October 31, 2013). Neither of these divisions had performed according to the Company’s expectations during the past few years and, in general, the wireless segment operated at a loss. The Company recorded a preliminary unaudited loss from discontinued operations, net of tax, of $1.1 million during fiscal 2013 as a result of the disposition of the RF Wireless segment. The foregoing preliminary unaudited loss from discontinued operations reduced the company’s preliminary unaudited net income for the fiscal year ended October 31, 2013 to $3.8 million, or $0.50 per basic and $0.46 per diluted share. For the 2012 fiscal year, earnings per share was $0.38 per basic and $0.34 per diluted share.

Howard Hill, RF Industries’ Chief Executive Officer, stated, “During most of 2013, we saw increased demand for our offerings across all end markets, which resulted in solid revenue growth for the year. Our Cables Unlimited division was particularly strong and generated over 90% of our company’s overall revenue growth in fiscal 2013. The revenue growth at Cables Unlimited was the result of sales of its OptiFlex™ power and fiber optic cabling system that is marketed for use with cell towers.”

Mr. Hill further stated, “Since mid-October, sales for OptiFlex™ have substantially slowed primarily due to a decline in the demand for cabling systems and increased competitive pressure. Given what we’ve seen in the first two months of fiscal 2014, we expect to see a material decline in revenues and operating profit from Cables Unlimited in the first quarter, both sequentially and as compared to the first quarter of 2013. Accordingly, we anticipate a corresponding material decline in revenues and income from continuing operations on a consolidated basis in the first quarter, both sequentially and as compared to the first quarter of 2013.”

Research

Fri, 01 Nov 2013 04:00:00 GMT

Alert Sent to Members on October 30, 2013

Rf Industries (NASDAQ:RFIL) ($9.50) - RFIL designs, manufactures, and/or sells communications equipment primarily to the radio and other professional communications related industries in both the United States and internationally.

We first disclosed our long position in RFIL on 3/18/2013 at a price of $6.37 when we alerted premium members of our bullish article “Is Rf Industries’ (RFIL) Increased Dividend Payout a Clue to Consistent Growth?” We then added the stock to our GeoBargain list on 4/10/2013 at $6.46, however we are now removing RFIL from the list at the price of $9.50, or 47% higher than when it was added. The stock reached a 52-week high of $10.86, or 68% higher from our initial coding.

While RFIL has surpassed our near-term price target mentioned in our article of $8.75, it has not yet reached our higher end price target of $13.00. We do believe the industry that RFIL serves is a hot industry one. However, our reasons for removing RFIL at this time are due to:

Uncertainties we have with the company achieving above average growth due to tough quarterly EPS comparisons that the company will face in the coming quarters. Recall, one of the criteria we look for in our GeoBargains is EPS growth of around 25% in a year of year quarter-over-quarter comparisons.
More importantly, RFIL has disclosed that a legal issue in its last two 10-Q's could lead investors to question the integrity of management once the issues becomes more apparent.

“On May 24, 2013, a former employee of the Company filed a complaint with the San Diego, California office of the U.S. Department of Labor-OSHA alleging retaliatory employment practices in violation of the whistleblower provisions of the Sarbanes-Oxley Act. The complaint alleges that the former employee was terminated in November 2012 in retaliation for making disclosures relating to fraudulent accounting practices and lack of compliance with U.S. GAAP; violations of multiple Securities and Exchange Commission rules and regulations; and fraud against the shareholders. The complaint does not seek any specified amount of damages, but does seek various forms of relief, including the following: Reinstatement of the former employee’s employment, or in the alternative, an award for lost future wages, benefits and pension; back pay and bonuses; compensatory monetary damages in an amount to be determined; reasonable attorney’s fees; and all costs of litigation. The Company disputes the retaliation claim and has notified its employment practices liability insurance carrier of the demand.”

We will keep a close eye on the story to see if any new growth catalysts emerge that may give us a more insight into RFIL's future.

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Comments & Business Outlook

Thu, 12 Sep 2013 04:00:00 GMT

Third Quarter 2013 Results

For the quarter ended July 31, 2013, the Company reported record third quarter net sales of $9.6 million, an increase of 31%, compared to $7.3 million in the same quarter of fiscal 2012.
Income from continuing operations for the third quarter of fiscal 2013 was $1.2 million, or $0.15 per basic and $0.13 per diluted share, compared to $0.8 million or $0.11 per basic and $0.10 per diluted share in the third quarter of fiscal 2012.

Howard Hill, Chief Executive Officer, commented, “We are pleased to report record revenue for the fourth consecutive quarter and continued strong demand for our offerings across all end markets. In particular, we have been focused on growing our custom interconnect solutions to the wireless infrastructure industry. During the quarter, we continued to see the positive impact of this long term strategy with strong sales and profitability in our Cables Unlimited division. Our aim is to continue to provide customized solutions, such as our custom cable product, to new and existing customers that allow them to remain competitive in this space.”

Comments & Business Outlook

Wed, 12 Jun 2013 04:00:00 GMT

Second Quarter 2013 Results

Record second quarter net sales of $9.2 million, an increase of 37%, compared to $6.7 million in the same quarter of fiscal 2012.
Net income for the second quarter of fiscal 2013 was $1.2 million, or $0.15 per basic and $0.14 per diluted share, compared to net income of $0.6 million or $0.09 per basic and $0.08 per diluted share in the second quarter of fiscal 2012.

Howard Hill, Chief Executive Officer, commented, “We are pleased to report record revenue. Our strength lies in our ability to design and manufacture complex cable assembly products that meet or surpass the connectivity needs of our end users and, as a result, we’ve seen continued strong demand for our offerings. In particular, we have been focused on growing our position as a leading provider of full service, custom interconnect solutions to the wireless infrastructure industry. During the quarter, we saw the positive impact of this long term strategy with particularly strong sales from our Cables Unlimited division, which realized continued marketplace acceptance of its OptiFlex™ Hybrid Custom Fiber Optic and DC Power Cabling solution for wireless towers.”

Mr. Hill commented, “As expected, revenues at the RF Wireless segment decreased due to the winding down of the contract with the Los Angeles County Fire Department, which was entered into in November 2011. Accordingly, the completion of that contract will result in a decrease in revenues from that segment in future periods until other, larger contracts are entered into. Nonetheless, we saw very strong performance on a consolidated basis, with revenue growth at our remaining business segments. Our balance sheet, with a strong cash position and no debt, provides us with the ability to return capital to shareholders through a dividend while also supporting our long term growth strategy.”

Mr. Hill concluded, “Our Company is part of a dynamic industry where the demand for wireless connectivity is driving improvements to the wireless infrastructure and we believe that our customized solutions position us well to capitalize on new opportunities in this space.”

Investor Alert

Mon, 01 Apr 2013 04:00:00 GMT

On 3/28/2013, we published a report on RFIL for our Premium members and subsequently had it published on Seeking Alpha for the masses. An excerpt from the report...

"By now GeoInvesting followers should know that our team has a strong track record of exploiting hidden clues telegraphed by management teams of micro-cap gems before the masses do. On March 18, 2013 we disclosed our long position in Rf Industries (NASDAQ:RFIL) to GeoInvesting premium members at $6.39. We believe that RFIL is one of those gems and could rise to a range of $8.75 to $13.00 from its current share price in the upper $6 per share range. We have noticed significant volume coming into the stock over the past couple of trading sessions, making shares poised for a breakout move."

Please see our report here.

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Research

Wed, 27 Mar 2013 04:00:00 GMT

Our first alert sent to members on 9/10/2012 when the stock was trading at $4.25:

We have begun tracking Rf Industries (NASDAQ:RFIL) and Optical Cable (NASDAQ:OCC) since both reported strong third quarter 2012 results. We are coding both as GeoBargains on the Radar and will conduct more due diligence on each company. The main issue for these companies is that the visibility beyond the next one or two quarters is unclear, as is evident from referencing historical financials.

Alert sent on 3/12/2013

Reported strong firs quarter 2013 results

For the first quarter ended January 31, 2013, the Company reported net sales of $10,509,000, an increase of $4,950,000, or 89%, as compared to $5,559,000 in the same quarter of fiscal 2012.
Consolidated net income for the quarter was a record $1,482,000, or $0.21 per basic and $0.19 per diluted share, compared to consolidated net income of $115,000 or $0.02 per basic and diluted share in the first quarter of 2012.

We think shares We think shares will move higher but uncertainty exists regarding the sustainability of the 1st quarter results; 2012 1st quarter results benefited from the completion of a large order. Regardless, we believe that the company will continue to report solid growth comparisons for its next 2 quarters.

Alert Sent to Members on 3/18/2013

GeoBargain on the radar Rf Industries (NASDAQ:RFIL) ($6.39) announced a 40% increase in its quarterly dividend and declared a special dividend of $0.07 per share. Over the last several months similar dividend news has helped propel shares in GeoBargain Orchids Paper Products Co. (NYSE AMEX:TIS) and Ex-GeoBargain on the radar Ceco Environmental (NASDAQ:CECE).

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Comments & Business Outlook

Mon, 10 Sep 2012 04:00:00 GMT

Third Quarter 2012 Results

Net sales increased 51% to a quarterly record $7,472,000 compared to $4,948,000 in the same quarter last year.
Consolidated net income was a quarterly record $735,000, or $0.10 per diluted share, compared to consolidated net income of $65,000, or $0.01 per diluted share in the same quarter last year.

"Our focus in the acquisition of Cables Unlimited (CU) in June 2011 was to capitalize on RFI's strong product distribution to the wireless industry. Working closely with our distributors, Cables Unlimited designed and introduced the new OptiFlex™ power and fiber optic cabling system for high-speed wireless antenna towers. Multiple larger orders for OptiFlex supports our strategy of leveraging RFI's wireless product line by incorporating fiber optic and power components.

"Total operating profits increased to $1,094,000 compared to breakeven in the same period last year. We anticipate that strong performance from all business segments should lead to record sales in the fourth quarter ending October 31, 2012," said Howard Hill, RFI's CEO.

RF Connector and Cable Assembly segment sales increased 18% to a record $3,871,000 compared to $3,274,000 in the same quarter last year. Operating income for this segment was $669,000, compared to an operating loss of $99,000 in the same period last year. The segment's loss in the third quarter last year was due to the total of $562,000 in non-recurring acquisition related and other expenses, as discussed above.

Cables Unlimited's third quarter sales were a record $2,728,000, compared to sales of $909,000 for the 46 day period after its acquisition on June 15, 2011 last year. Gross margin was 35% compared to 37% of sales in the same quarter last year, while operating profitability significantly improved to $446,000, or 16% of sales, compared to $97,000, or 11% of sales in the same quarter last year.

"During the third quarter, CU announced receipt of orders totaling $1,400,000 for its newly designed OptiFlex™ Hybrid Custom Fiber Optic & DC Power Cabling solution and shipped a significant portion of these orders during the quarter. We are extremely encouraged by the subsequent receipt of additional similar-sized orders for this new product," said Hill.

Bioconnect sales increased 12% to a third quarter record $570,000 compared to $510,000 in the same period last year. Gross margin declined to 39% from 41% of sales due to higher raw materials costs. Operating income declined slightly to $116,000 compared to $121,000 in the same quarter last year as Bioconnect increased hiring and invested in the development of new products for the coming year.

RF Wireless sales increased 19% to $304,000 from $255,000 in the same quarter last year. A change in product mix, combined with customer requested rescheduling of RadioMobile product shipments to a public service organization lowered segment gross margin to 26% compared to 39% of sales in the same quarter last year. The operating loss for this segment was $138,000 compared to $118,000 in the same quarter last year.

"RadioMobile's product shipments associated with its $2,600,000 contract with the Los Angeles County Fire Department have been rescheduled for delivery in the current fourth quarter and remainder of calendar 2012. We anticipate significant improvement in RF Wireless sales and profitability in the next two quarters," said Hill.

As of July 31, 2012, RFI reported cash and cash equivalents of $5,630,000, working capital of $13,719,000, a current ratio of 6 to 1, no long-term debt and stockholders' equity of $19,094,000, or $2.77 per outstanding share.