SAN DIEGO-RF Industries Ltd. said its sales for the fiscal third quarter ended July 31 increased to $1.6 million from $1.58 million the previous year.
The company reported net earnings of $294,000, or 8 cents per diluted share, compared with $207,000, or 6 cents per diluted share, for third-quarter 1998.
“Sales improved modestly, but gross margin jumped in the quarter to 61 percent from 51 percent of sales last year due to a strong product mix, initial volume deliveries of coaxial cable products and profitable operations from the Neulink Division,” said Howard Hill, president of RF Industries. “We believe the market for RFI’s products is improving, but anticipate that our gross margin will decline somewhat in coming periods.”
Hill also said the company’s fourth-quarter and fiscal-2000 sales and earnings should benefit from the third-quarter launch of its coaxial cable products.
