RF Industries, Ltd. (NASDAQ: RFIL) announced that it has sold its RF Neulink division to Raveon Technologies Corporation. Financial terms of the transaction were not disclosed.
“This sale will allow us to focus on our profitable, core operations. RF Industries has grown rapidly through a focused strategy of providing innovative interconnect products and complex cable assemblies to growing markets, predominantly wireless. RF Neulink, which contributed less than 1% of RF Industries’ total sales for the six months ended April 30, 2013, did not contribute meaningfully to the growth or profitability of RF Industries. The divestiture of the RF Neulink division is part of our continuous process to evaluate the performance of our divisions and better concentrate our energy and resources on the higher growth and higher margin core components of our business,” commented Howard Hill, Chief Executive Officer of RF Industries.
About RF Industries
RF Industries is a leading designer and manufacturer of innovative interconnect products and complex cable assemblies across diversified, high growth markets including wireless carriers & infrastructure, medical and industrial. The Company’s products include RF connectors, coaxial and custom cable assemblies, fiber optic cables, wiring harnesses, medical wiring as well as mobile public safety communications systems. The Company’s leading edge connectivity solutions are used throughout the growing and evolving wireless infrastructure. The Company has reported 19 consecutive years of profitability and is headquartered in San Diego, California with operations in Las Vegas, Nevada and Yaphank, New York. Please visit the RF Industries website at www.rfindustries.com.
This press release contains forward-looking statements with respect to future events which are subject to a number of factors that could cause actual results to differ materially.Factors that could cause or contribute to such differences include, but are not limited to: changes in the telecommunications industry; the operations of the Cables Unlimited division which was acquired in June 2011; and the Company’s reliance on certain distributors for a significant portion of anticipated revenues.Further discussion of these and other potential risk factors may be found in the Company’s public filings with the Securities and Exchange Commission (www.sec.gov) including its Form 10-K.All forward-looking statements are based upon information available to the Company on the date they are published and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.
Institutional Marketing Services (IMS)
John Nesbett/Jennifer Belodeau, 203-972-9200
RF Industries, Ltd.
James Doss, 858-549-6340
|RF Industries Announces Sale of RadioMobile Division to the Division’s Management (2013/10/31)|
|Powell Industries Announces Sale Of Transdyn (2014/1/16)|
|CORRECTING and REPLACING RF Industries Reports Record 31% Increase in Third Quarter Revenues ()|
|RF Industries Reports Fourth Quarter and Year End Results; Reiterates Guidance for First Quarter of Fiscal 2014 (2014/1/17)|
|RF Industries Reports Preliminary Unaudited Results for Fiscal 2013 Fourth Quarter and Year End; Provides Guidance for Q1 of Fiscal 2014 (2014/1/3)|
|RF Industries Reports First Fiscal Quarter Results (2014/3/13)|
|RF Industries to Host Conference Call to Discuss Fiscal 2013 Third Quarter Results ()|
|RF Industries Declares Regular Quarterly Cash Dividend of $0.07 per Common Share (2013/9/10)|
|RF Industries Named to Forbes “100 Best Small Companies” List (2013/10/15)|
|RF Industries to Host Conference Call to Discuss Fiscal 2013 Fourth Quarter and Year End Results (2014/1/14)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.