RF Industries reports Q2 EPS 1c, consensus (2c)

Reports Q2 revenue $16.11M, consensus $16.28M. “In the second quarter, we saw sequential improvement across the board in our business. Net sales were up 19.7%, gross profit margin improved 540 basis points to 29.9%, and Adjusted EBITDA returned to positive territory. This is the strongest indication yet that our business is trending in the right direction after a very challenging 2023 marked by significant reductions in telecom capex spending. This quarter, we recorded a non-cash valuation allowance on our deferred tax asset that resulted in a significant tax provision driving the GAAP net loss. This accounting adjustment is unrelated to our operations and should not take away from the significant recovery and improvement we saw in all areas of our business,” said Robert Dawson, CEO of RF Industries.