Current Backlog Stands at $31 Million
SAN DIEGO, CA / ACCESSWIRE / September 7, 2022 / RF Industries, Ltd. (NASDAQ:RFIL), a national manufacturer and marketer of interconnect products and systems, today announced it has received $3.5 million of follow-on orders from its newest North American Tier 1 wireless carrier customer at the Company's Cables Unlimited division for its OptiFlex™ hybrid fiber solution.
Robert Dawson, President and CEO of RF Industries, commented, "We are excited to announce these follow-on orders in support of our newest wireless carrier customer and their North American 4G/5G wireless infrastructure build. These orders are further validation of our increasing value in the market, and we look forward to sharing more information when we release our third quarter financial results next week.
"Our OptiFlex™ hybrid fiber solution is engineered, designed, and built by our Cables Unlimited team in Long Island, and continues to gain market share in the North American wireless marketplace. With our increasingly strong product and solutions offer and our unique value proposition in the market, we are well-positioned to benefit as the overall spend on 4G and 5G deployments continues to increase."
The Company expects to start shipping against these orders early in its fiscal year 2023, which begins on November 1, 2022. RF Industries' backlog stands at approximately $31 million as of today.
OptiFlex™ is a composite of multiple cables, including all or a variation of power, coax, ethernet and fiber. This product line is a customizable solution that is engineered and designed to fit the exact needs of RF Industries' customers as they upgrade their wireless tower sites from 3G to 4G and LTE and 5G. For more information on OptiFlex™, click here.
RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets, including wireless/wireline telecom, data communications and industrial. The Company's products include high-performance components such as RF connectors and adapters, RF passives including dividers, directional couplers and filters, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut, North Kingstown, Rhode Island and Parsippany, New Jersey. Please visit the RF Industries website at www.rfindustries.com.
This press release contains forward-looking statements with respect to future events, including opportunities for sales growth, our market share, overall margin improvement, customer validation of our products and revenue growth and the expecting timing of order fulfillment, 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: the Company's ability to successfully integrate Microlab and realize anticipated synergies, the duration and continuing impact of the coronavirus pandemic on the U.S. economy and the Company's customers; its ability to continue to deliver newly designed and custom fiber optic and cabling products to principal customers; changes in the telecommunications industry; the Company's reliance on certain distributors and customers for a significant portion of anticipated revenues; the impact of existing and additional future tariffs imposed by U.S and foreign nations; the Company's ability to execute on its new go-to-market strategies and channel models; its ability to expand its OEM relationships; its ability to maintain strong margins and diversify its customer base; and its ability to address the changing needs of the market. 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 Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. 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.
RF Industries, Ltd. Peter Yin SVP and CFO (858) 549-6340 rfi@rfindustries.com
MKR Investor Relations Todd Kehrli Analyst/Investor Contact (323) 468-2300 rfil@mkr-group.com
View source version on accesswire.com: https://www.accesswire.com/714920/RF-Industries-Receives-35-Million-of-Follow-on-Orders-from-North-American-Tier-1-Wireless-Carrier-Customer
Nio (NYSE: NIO) reported increasing losses in its second-quarter earnings report this week, but investors are shrugging that off, sending shares soaring Friday morning. Although its profit margins have been on a downward trend, new models being launched could turn that around in the coming years. Consumer prices in China increased at a slower pace than many expected in August, and producer inflation sank to the lowest level since February 2021, reports Reuters.
Peloton Interactive (NASDAQ: PTON) shares beat the market on Friday as the stock gained 11% by 1 p.m. ET compared to a 1.2% increase in the S&P 500. Shares have been reeling in recent months as Peloton struggled to boost sales of its exercise platforms or membership subscriptions to its services.
As we close in on the final quarter of 2022, investors are looking for an answer to one question: was June’s low the bottom for stocks, or do they have more room to fall? It’s a serious question, and there may be no easy answer. Markets are facing a series of headwinds, from the high inflation and rising interest rates that we’ve grown familiar with to an increasingly strong dollar that will put pressure on the upcoming Q3 earnings. Weighing in on current conditions from Charles Schwab, the $8 t
Berkshire Hathaway is on pace to collect $6.07 billion in dividend income over the next 12 months. Just five holdings will account for 71% of total payouts.
Investors are seeing higher growth potential for QuantumScape's battery cell technology after an interesting EV industry development.
Shares of Roblox (NYSE: RBLX) were up 7.4% as of 2:02 p.m. ET on Friday following management's comments at the Roblox Developers Conference. Worries over Roblox's decelerating growth in revenue and bookings has weighed on a stock that has shed more than half its value year to date. Roblox's user base has more than doubled over the last three years, but average spending per user on virtual currency (Robux) continues to trend down.
Devon Energy (DVN) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
The S&P 500 is on again, off again all year. But investors clearly have a "buy list" of stocks they want to own when the rally looks real.
A couple of catalysts drove the crypto trading specialist higher, including an upgrade by a Wall Street analyst and news it plans to fund a court battle challenging a U.S. Treasury Department decision. Daiwa analyst Carlton Lai upgraded Coinbase to buy from outperform (weak buy), while maintaining his price target of $100. Furthermore, after "years of delay," he views the upcoming debut of Ethereum's (CRYPTO: ETH) The Merge as "one of the crypto industry's biggest events this year."
All week long, trading in Nvidia (NASDAQ: NVDA) stock has been strong. After opening lower following the long holiday weekend, shares of the semiconductors-for-gaming leader have notched three straight days of stock price gains -- including this morning, with Nvidia stock up 2.2% through 10:30 a.m. ET. You can probably thank sustained buying by Cathie Wood for that.
The Dow Jones jumped as the rally gained strength. Tesla stock surged as Elon Musk eyed a new move. A Warren Buffett stock impressed.
ChargePoint Holdings (NYSE: CHPT) stock jumped this week, gaining a solid 21.6% through the week as of 1 p.m. ET Friday, according to data provided by S&P Global Market Intelligence. If ChargePoint impressed investors with its quarterly numbers and outlook last week, an analyst singled out the electric vehicle (EV) charging stock this week as a major potential winner from the Inflation Reduction Act (IRA). Maheep Mandloi from Credit Suisse initiated coverage on ChargePoint stock midweek with an outperform rating and a price target of $22 per share.
A strong bearish trend defined the markets in the first half of the year; since then, the key point has been volatility. Stocks hit a bottom back in June, when the S&P 500 dropped into the 3,600s. That has proven to be a support level in the last two months, and at least one strategist believes that the market won’t be testing those lows again this year. JPMorgan's Jason Hunter believes that inflation may have peaked, and that the upcoming CPI report will provide additional evidence of that. “We
Pinterest (PINS) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Yahoo Finance Live anchors discuss second-quarter earnings for Kroger.
On Friday, the company unveiled the Robinhood Investor Index, which captures how customers invest based on the top 100 most owned stocks on the platform.
Gary Gensler had strong words for the crypto industry in a Thursday speech, telling an audience of lawyers that the "vast majority" of the nearly 10,000 existing crypto tokens are securities.
FuboTV's (FUBO) leading live sports TV streaming platform, Fubo Gaming, announces the launch of its Sportsbook in New Jersey via an agreement with Caesars Entertainment Inc.
In this article, we discuss 10 dividend stocks with over 8% yield to buy in September. You can skip our detailed analysis of top high dividend stocks, and go directly to read 5 Best Dividend Stocks with Over 8% Yield You Can Buy in September. In the current market situation, investors are looking for different […]
In the latest trading session, VALE S.A. (VALE) closed at $12.34, marking a +0.57% move from the previous day.