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Richardson Electronics fiscal Q2 loss widens 16.6% YOY

Richardson Electronics Ltd. said its normalized net income for the fiscal second quarter ended Nov. 28, 2015, came to a loss of 11 cents per share, compared with a loss of 9 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.4 million, compared with a loss of $1.2 million in the year-earlier period.

The normalized profit margin dropped to negative 4.2% from negative 3.6% in the year-earlier period.

Total revenue totaled $34.1 million, compared with $33.8 million in the prior-year period, and total operating expenses climbed on an annual basis to $36.9 million from $36.0 million.

Reported net income totaled a loss of $2.3 million, or a loss of 18 cents per share, compared to a loss of $1.1 million, or a loss of 8 cents per share, in the prior-year period.