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Richardson Electronics Ltd (NASDAQ: RELL) |
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Description of Richardson Electronics Ltd's Business Segments
Power and Microwave Technologies Group
Power and Microwave Technologies Group (“PMT”), launched in July 2015,
combines Electron Device Group’s (“EDG”) core engineered solutions,
power grid and microwave tube business with new RF and power technologies. As
a manufacturer and authorized distributor, PMT’s strategy is to provide
specialized technical expertise and engineered solutions based on our core engineering
and manufacturing capabilities. We provide solutions and add value through design-in
support, systems integration, prototype design and manufacturing, testing, logistics,
and aftermarket technical service and repair—all through our existing global
infrastructure. PMT’s focus is on products for power, RF and microwave applications
for customers in alternative energy, aviation, broadcast, communications, industrial,
marine, medical, military, scientific, and semiconductor markets. PMT focuses
on various applications including broadcast transmission, CO2 laser cutting, diagnostic
imaging, dielectric and induction heating, high energy transfer, high voltage
switching, plasma, power conversion, radar, and radiation oncology. PMT also offers
its customers technical services for both microwave and industrial equipment.
PMT represents leading manufacturers of electron tubes and components used in
semiconductor manufacturing equipment and industrial power applications. Among
the suppliers they support are Amperex, CPI, Draloric, Eimac, General Electric,
Hitachi, Jennings, L3, MaCom, National, NJRC, Thales, Toshiba, and Vishay.
PMT’s inventory levels reflect our commitment to maintain an inventory of
a broad range of products for customers who are buying products for replacement
of components used in critical equipment. PMT also sells a number of products
representing trailing edge technology. While the market for these trailing edge
technology products is declining, PMT is increasing its market share. PMT often
buys products it knows it can sell ahead of any supplier price increases. As manufacturers
for these products exit the business, PMT has the option to purchase a substantial
portion of their remaining inventory.
PMT has distribution agreements with many of its suppliers; most of these agreements
provide exclusive distribution rights which often include global responsibility.
The agreements are typically long term, and usually contain provisions permitting
termination by either party if there are significant breaches which are not cured
within a reasonable period of time. Although some of these agreements allow PMT
to return inventory periodically, others do not, in which case PMT may have obsolete
inventory that they cannot return to the supplier.
In addition to third party products, we sell proprietary products principally
under certain trade names we own including: Amperex®, Cetron®, and National®.
Our proprietary products include thyratrons and rectifiers, power tubes, ignitrons,
magnetrons, phototubes, microwave generators, and liquid crystal display monitors.
The materials used in the manufacturing process consist of glass bulbs and tubing,
nickel, stainless steel and other metals, plastic and metal bases, ceramics, and
a wide variety of fabricated metal components. These materials are generally readily
available, but some components may require long lead times for production, and
some materials are subject to shortages or price fluctuations based on supply
and demand.
Canvys
Canvys provides customized display solutions serving the corporate enterprise,
financial, healthcare, industrial, and medical original equipment manufacturers
(“OEM”) markets. Our engineers design, manufacture, source, and support
a full spectrum of solutions to match the needs of our customers. We offer custom
display solutions that include touch screens, protective panels, custom enclosures,
specialized cabinet finishes, and application specific software packages. Our
volume commitments are much lower than those of the large display manufacturers,
making us the ideal choice for companies with very specific design requirements.
We partner with both private label manufacturing companies and leading branded
hardware vendors to offer the high quality liquid crystal displays, mounting devices,
and customized computing platforms.
We have long-standing relationships with key component and finished goods manufacturers
including 3M, LG, NEC Displays, and several key Asian display manufacturers that
manufacture products to our specifications. We believe supplier relationships,
combined with our engineering design and manufacturing capabilities and private
label partnerships, allow us to maintain a well-balanced and technologically advanced
offering of customer specific display solutions.
Healthcare
Healthcare, included in Canvys prior to fiscal year 2015, manufactures, distributes
and services high value replacement parts for the healthcare market including
hospitals, medical centers, independent service organizations, and multi-vendor
service providers. Products include power grid tubes, hydrogen thyratrons, klystrons,
magnetrons; Image Systems medical displays and workstations for picture archiving
and communication systems (“PACS”); visual solutions for operating
rooms/surgical environments; digital radiography solutions including replacement
flat panel detectors and upgrades; and additional replacement components currently
under development for the diagnostic imaging service market. Through a combination
of newly developed products and partnerships, service offerings, and training
programs, we believe we can help our customers improve efficiency and deliver
better clinical outcomes while lowering the cost of healthcare delivery.
Composition of Richardson Electronics Ltd Revenues by
Segments |
| |
| PMT |
|
 61.89 % |
of total Revenue |
| GES |
|
17.33 % |
of total Revenue |
| Canvys |
|
17.13 % |
of total Revenue |
| Healthcare |
|
3.9 % |
of total Revenue |
| North America |
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49.05 % |
of total Revenue |
| Asia Pacific |
|
20.07 % |
of total Revenue |
| Europe |
|
27.01 % |
of total Revenue |
| Latin America |
|
3.69 % |
of total Revenue |
| Other |
|
0.42 % |
of total Revenue |
Q3 three months ended (Mar 01 2025)
|
| Revenues by Business Segments |
Revenues
(in millions $) |
%
(of total Revenues) |
| PMT |
33.22 |
61.89 % |
| GES |
9.30 |
17.33 % |
| Canvys |
9.20 |
17.13 % |
| Healthcare |
2.09 |
3.9 % |
| North America |
26.33 |
49.05 % |
| Asia Pacific |
10.77 |
20.07 % |
| Europe |
14.50 |
27.01 % |
| Latin America |
1.98 |
3.69 % |
| Other |
0.23 |
0.42 % |
| Total |
53.67 |
100 % |
Q3 three months ended (Mar 01 2025)
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| Revenue Growth rates by Segment |
Y/Y Revenue
% |
Q/Q Revenue
% |
| PMT |
6.59 % |
-3.43 % |
| GES |
-19.36 % |
55.66 % |
| Canvys |
39.53 % |
34.21 % |
| Healthcare |
-32.25 % |
-7.71 % |
| North America |
22.69 % |
28.06 % |
| Asia Pacific |
-11.09 % |
-1.55 % |
| Europe |
-9.84 % |
-9.23 % |
| Latin America |
-27.49 % |
-1.69 % |
| Other |
- |
4460 % |
| Total |
4.35 % |
8.81 % |
Q3 three months ended (Mar 01 2025)
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| Income by Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Total |
-2.06 |
- |
Q3 three months ended (Mar 01 2025)
|
| Income Growth rates by Segment |
Y/Y Income
% |
Q/Q Income
% |
| Total |
- |
- |
Annual Report on Richardson Electronics Ltd Divisions, Sales by Country |
Twelve months ended 2024
|
| RELL s Annual Revenue by Geography and Business Segments |
Sales
(in millions $) |
%
(of total Sales) |
| Total |
195.97 |
100 % |
Twelve months ended 2024
|
| RELL s Annual Income by Country and Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Total |
0.06 |
0.03 % |
Twelve months ended 2024
|
| Annual Revenue and Income Growth by Country and Business Segments |
% Y/Y Sales Growth |
% Y/Y Income Growth |
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