Richardson Electronics Reports First Quarter Fiscal 2018 Results

Richardson Electronics Reports First Quarter Fiscal 2018 Results and Declares Quarterly Cash Dividend

Richardson Electronics, Ltd.
Unaudited Consolidated Statements of Comprehensive Income (Loss)
(in thousands, except per share amounts)

	Three Months Ended
	September 2, 2017			August 27, 2016
Statements of Comprehensive Income (Loss)
Net sales	$	36,995		$	33,373
Cost of sales		24,847			23,133
Gross profit		12,148			10,240
Selling, general, and administrative expenses		12,324			12,327
Gain on disposal of assets		(191	)		—
Operating income (loss)		15			(2,087	)
Other (income) expense:
Investment/interest income		(134	)		(11	)
Foreign exchange loss		201			278
Other, net		(4	)		(1	)
Total other expense		63			266
Loss before income taxes		(48	)		(2,353	)
Income tax provision		64			497
Net loss		(112	)		(2,850	)
Foreign currency translation gain, net of tax		2,121			379
Fair value adjustments on investments (loss) gain		(14	)		7
Comprehensive income (loss)	$	1,995		$	(2,464	)
Loss per share:
Common shares - Basic	$	(0.01	)	$	(0.23	)
Class B common shares - Basic	$	(0.01	)	$	(0.20	)
Common shares - Diluted	$	(0.01	)	$	(0.23	)
Class B common shares - Diluted	$	(0.01	)	$	(0.20	)
Weighted average number of shares:
Common shares - Basic		10,712			10,703
Class B common shares - Basic		2,137			2,141
Common shares - Diluted		10,712			10,703
Class B common shares - Diluted		2,137			2,141
Dividends per common share	$	0.060		$	0.060
Dividends per Class B common share	$	0.054		$	0.054