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(Filed on August 3, 2026)
+27.6%
31.2%
$31.8M
Q4-specific: In the fourth quarter of fiscal 2026, the company decreased the valuation allowance on state net operating losses by $0.5 million, reducing the total state NOL valuation allowance to $1.2 million, citing higher book income in fiscal 2026 and fiscal 2027 projections as supporting positive evidence. Management also confirmed no material changes in internal control over financial reporting during the most recent fiscal quarter.
Annual context (fiscal year ended May 30, 2026): Effective June 1, 2025, the company consolidated its former standalone Healthcare segment into PMT, reducing reportable segments from four to three (PMT, GES, Canvys). CT tube repair and limited ALTA tube manufacturing for DirectMed—governed by a 10-year exclusive global supply agreement executed January 24, 2025—are now reported within PMT. During fiscal 2026 the company sold remaining retained Healthcare assets, recording a $0.8 million gain; the cumulative loss on Healthcare disposals and related charges across fiscal 2025–2026 totaled $4.2 million.
Annual context: Full-fiscal-year 2026 net sales were $228.6 million (up 9.4% year-over-year), with PMT up 9.1% to $160.5 million (driven by RF/Wireless Components and Semiconductor Wafer Fab growth), GES up 7.3% to $30.8 million (new customers, new power management products, increased market share), and Canvys up 12.4% to $37.3 million (North American markets). Consolidated operating income was $6.5 million versus a $2.5 million operating loss in fiscal 2025. One PMT customer accounted for $31.5 million, or 14% of consolidated net sales. Approximately 60% of sales were generated outside the United States.
Annual context: The company executed a three-year extension of its $20 million revolving credit facility with PNC Bank on October 7, 2025, extending maturity to October 7, 2028; no borrowings were outstanding as of May 30, 2026. Capital expenditures of $4.4 million during fiscal 2026 were directed primarily to IT systems and the LaFox, Illinois manufacturing and facilities, which support PMT and GES. The company employed 429 individuals (392 full-time, 37 part-time) as of May 30, 2026, all non-union.
Annual context: Management stated that recent U.S. tariff modifications did not materially impact fiscal 2026 results, though the company flagged that further tariffs on China-manufactured products imported into the United States, or retaliatory measures by other countries, could adversely affect sales and gross margins. The company does not engage in currency hedging; a 10% unfavorable dollar move would have reduced foreign-denominated net sales by an estimated $13.0 million during fiscal 2026.
(Filed on April 9, 2026)
+3.1%
31.9%
$29.5M
Beginning June 1, 2025 (Q1 FY2026), the Company completed a segment realignment from four reportable segments to three (PMT, GES, Canvys), integrating the former Healthcare segment into PMT following the January 2025 sale of most Healthcare assets to DirectMed Imaging. The Company continues to supply repaired Siemens CT X-ray tubes to DirectMed under an exclusive 10-year global supply agreement and will manufacture ALTA CT tubes for approximately 12 to 18 months.
Q3 FY2026 (13 weeks) net sales were $55.5M, up 3.1% year-over-year. PMT sales rose 9.7% to $38.7M driven by growth in semiconductor equipment and RF/Microwave components; GES declined 5.4% to $8.8M as legacy tube customer losses were only partially offset by new-product and territory expansion; Canvys fell 13.5% to $8.0M on lower North American sales.
Consolidated gross margin improved to 31.9% in Q3 FY2026 from 31.0% a year earlier, with PMT gross margin up to 32.1% from 29.9% on favorable product mix and improved manufacturing absorption, partially offset by unfavorable mix in GES (30.8% vs 32.8%) and higher freight costs in Canvys (32.2% vs 33.2%). SG&A rose to $16.2M (29.2% of sales) from $14.5M (26.9%) on higher salaries, benefits, travel, and sales incentives.
On October 7, 2025, the Company extended its PNC revolving credit facility by three years to October 7, 2028, maintaining a $20M borrowing limit with similar terms. No amounts were outstanding and no letters of credit were issued as of February 28, 2026.
Management stated that first-nine-months FY2026 results were not materially impacted by U.S. tariff and trade-policy changes, but flagged potential future exposure if additional tariffs are imposed or if the Company cannot pass through increased costs. Management is working with suppliers and customers to mitigate impacts, including pursuing tariff refund claims.
(Filed on January 8, 2026)
+5.7%
30.7%
$33.1M
Beginning June 1, 2025, Richardson Electronics realigned from four reportable segments to three (PMT, GES, Canvys) by integrating Healthcare into PMT, following the January 24, 2025 sale of the majority of Healthcare assets to DirectMed Imaging, LLC. Under a 10-year exclusive global supply agreement, Richardson will supply DirectMed with repaired Siemens CT X-ray tubes and continue manufacturing a limited quantity of ALTA CT X-ray tubes exclusively for DirectMed for approximately 12 months.
Q2 FY2026 net sales rose 5.7% to $52.3M: PMT declined 4.0% to $35.2M on lower Electron Device and Healthcare product sales partially offset by RF and Microwave growth; GES surged 39.0% to $8.3M driven by strong market adoption of Power Management products; Canvys grew 28.1% to $8.8M on higher North American sales. Operating income improved to $0.1M from a $0.7M loss a year earlier, aided by lower travel expenses in SG&A ($15.9M, or 30.5% of sales, vs. 32.3% prior year).
On October 7, 2025, the company executed a three-year extension of its PNC revolving credit facility to maturity of October 7, 2028, retaining a $20M maximum borrowing limit with similar terms to the prior agreement. No borrowings or letters of credit were outstanding as of November 29, 2025, and the company was in compliance with all financial covenants.
During the quarter, the company launched and adopted a new General Ledger system replacing the prior system, with internal processes, procedures, and controls updated in conjunction with the implementation. Management concluded disclosure controls and internal control over financial reporting remained effective as of quarter end.
Management noted that recent U.S. tariff modifications did not materially impact results for the first six months of fiscal 2026, but flagged ongoing risk from potential additional tariffs or retaliatory trade measures that could affect customer demand, cost pass-through, and gross margins if the company is unable to successfully absorb or pass on higher input costs.
(Filed on October 8, 2026)
+1.6%
31.0%
$35.7M
Effective June 1, 2025, the Company consolidated its four reportable segments into three (PMT, GES, Canvys) by integrating the former Healthcare segment into PMT, following the January 2025 sale of a substantial portion of Healthcare assets to DirectMed Imaging and the entry into a 10-year exclusive global supply agreement under which Richardson supplies repaired Siemens CT X-ray tubes and continues manufacturing limited ALTA CT tubes exclusively for DirectMed for approximately 12 months.
Q1 FY26 segment results: PMT sales rose 2.8% to $39.1M on higher semiconductor wafer-fab and electron tube volumes (partially offset by the post-sale decline in CT tube revenue), with gross margin up to 31.3% from 30.1% on product mix and improved manufacturing absorption; GES sales fell 10.2% to $7.3M due to non-recurrence of a large EV Locomotive order from the prior-year quarter; Canvys sales grew 8.3% to $8.3M on European market demand, but gross margin compressed to 30.9% from 34.3% on unfavorable product mix and higher freight costs.
Post-quarter, on October 7, 2025, the Company executed a three-year extension of its PNC Bank revolving credit facility via a Second Amendment, reducing the maximum borrowing limit from $30 million to $20 million; no amounts were outstanding and no drawings or repayments occurred during Q1 FY26.
Management stated that recent U.S. tariff modifications did not materially impact Q1 FY26 results but cautioned that further tariffs or trade-policy changes could increase import costs, dampen customer demand, and affect gross margins; the Company is working with suppliers and customers to mitigate tariff pass-through risks.
