Richardson Electronics, Ltd 8-K, filed Oct 8, 2025

Richardson Electronics, Ltd. (RELL)

8-K 2025-10-08 For: 2025-10-08

Added on April 08, 2026

About this 8-K

Richardson Electronics, Ltd filed this 8-K on October 8, 2025.


Delaware	0-12906	36-2096643
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

40W267 Keslinger Road P.O. Box 393
LaFox, Illinois		60147-0393
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, $0.05 Par Value per share	RELL	The Nasdaq Global Select Market


99.1	Press release issued October 8, 2025, furnished herewith
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)


			Richardson Electronics, Ltd.

Date:	October 8, 2025	By:	/s/ Robert J. Ben
			Chief Financial Officer and Chief Accounting Officer


	Unaudited		Audited
	August 30, 2025		May 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	35,654	$	35,901
Accounts receivable, less allowance for credit losses of $301 and $250, respectively		27,039		24,117
Inventories, net		104,635		102,799
Prepaid expenses and other assets		2,948		3,070
Total current assets		170,276		165,887
Non-current assets:
Property, plant and equipment, net		18,439		18,355
Intangible assets, net		330		345
Right of use lease assets		2,026		2,276
Deferred income tax assets		8,695		8,744
Other non-current assets		301		228
Total non-current assets		29,791		29,948
Total assets	$	200,067	$	195,835
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	23,172	$	21,339
Accrued liabilities		14,360		14,276
Lease liabilities current		1,167		1,171
Total current liabilities		38,699		36,786
Non-current liabilities:
Deferred income tax liabilities		83		81
Lease liabilities non-current		859		1,105
Other non-current liabilities		1,058		1,204
Total non-current liabilities		2,000		2,390
Total liabilities		40,699		39,176
Commitments and contingencies
Stockholders’ Equity
Common stock, $0.05 par value; 12,444 and 12,362 shares issued and outstanding on August 30, 2025 and May 31, 2025, respectively		622		618
Class B common stock, convertible, $0.05 par value; 2,049 shares issued and outstanding on August 30, 2025 and May 31, 2025		102		102
Additional paid-in-capital		75,044		74,445
Retained earnings		80,392		79,340
Accumulated other comprehensive income		3,208		2,154
Total stockholders' equity		159,368		156,659
Total liabilities and stockholders’ equity	$	200,067	$	195,835


	Three Months Ended
	August 30, 2025		August 31, 2024
Net sales	$	54,607	$	53,725
Cost of sales		37,678		37,299
Gross profit		16,929		16,426
Selling, general and administrative expenses		15,961		16,112
Gain on disposal of property, plant and equipment		—		2
Operating income		968		316
Other income (expense):
Interest income		169		58
Foreign exchange gain		289		277
Other, net		904		(3	)
Total other income		1,362		332
Income before income taxes		2,330		648
Income tax provision		421		58
Net income		1,909		590
Foreign currency translation gain, net of tax		1,054		636
Comprehensive income	$	2,963	$	1,226

Net income per share:
Common stock - Basic	$	0.13	$	0.04
Class B common stock - Basic		0.12		0.04
Common stock - Diluted		0.13		0.04
Class B common stock - Diluted		0.12		0.04

Weighted average number of shares:
Common stock – Basic		12,393		12,200
Class B common stock – Basic		2,049		2,049
Common stock – Diluted		12,544		12,431
Class B common stock – Diluted		2,049		2,049


	Three Months Ended
	August 30, 2025			August 31, 2024
Operating activities:
Net income	$	1,909		$	590
Adjustments to reconcile net income to cash provided by operating activities:
Unrealized foreign currency gain		(511	)		(382	)
Depreciation and amortization		971			1,044
Inventory provisions		102			139
Share-based compensation expense		641			593
Gain on disposal of property, plant and equipment		—			(2	)
Deferred income taxes		49			(58	)
Change in assets and liabilities:
Accounts receivable		(2,654	)		(5,858	)
Inventories		(578	)		(124	)
Prepaid expenses and other assets		60			(29	)
Accounts payable		1,626			4,164
Accrued liabilities		(150	)		(95	)
Other		(98	)		430
Net cash provided by operating activities		1,367			412
Investing activities:
Capital expenditures		(1,025	)		(926	)
Proceeds from sale of property, plant and equipment		—			7
Net cash used in investing activities		(1,025	)		(919	)
Financing activities:
Proceeds from issuance of common stock		61			144
Cash dividends paid on common and Class B common stock		(857	)		(850	)
Proceeds from revolving credit facility		—			1,000
Repayment of revolving credit facility		—			(1,000	)
Other		(99	)		(162	)
Net cash used in financing activities		(895	)		(868	)
Effect of exchange rate changes on cash and cash equivalents		306			147
Decrease in cash and cash equivalents		(247	)		(1,228	)
Cash and cash equivalents at beginning of period		35,901			24,263
Cash and cash equivalents at end of period	$	35,654		$	23,035