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
The stock market took it literally on Thursday with a massive rally following an inflation reading that everyone agreed was way too hot. The CPI rose 0.4% in September, up from 0.1% in August, and above estimates for 0.2%. Core consumer prices, which don’t include food and energy, rose 0.6%, above forecasts for 0.4%, and unchanged from August.
(Bloomberg) -- A shock turnaround in equities sent Wall Street searching for something -- anything -- to explain how yet another red-hot inflation number translated into one of the best days of the year. Most Read from BloombergStocks Surge in Wild Ride After CPI Data Selloff: Markets WrapWorld Faces New Threats From Fast-Mutating Omicron VariantsCore US Inflation Rises to 40-Year High, Securing Big Fed HikeKroger Wants to Merge With Albertsons to Create US Grocery GiantHot Inflation Torches Bea
JPMorgan CEO Jamie Dimon cautioned of "significant headwinds" to the global economy as the biggest U.S. bank set aside near $1 billion to cover potentially bad loans.
A 2-year Treasury note now pays 4.3% (as of Oct. 12), a level that could induce some investors to choose bonds instead of stocks. Due to falling stock prices, AT&T's dividend returns significantly exceed that level. The question for income investors is whether they should take the guaranteed return of the bond or buy AT&T.
Tesla "is a solution" to the economy's problems, says Ark Invest CEO Cathie Wood.
Everyone is hoping the market might be bottoming and by the recent actions of Bank of America clients, some evidently think the lows must be in sight. Last week, BofA customers splashed out $6.1 billion on US stocks, in what amounted to the third largest inflow since 2008. While the bank has stated it is not as confident the bottom is quite so close, it’s not hard to see why investors feel the time is right to lean into equities. The widespread losses have left scores of beaten-down stocks looki
Stock-market investors can be forgiven for feeling a little dizzy after a day that saw stocks plunge in reaction to another round of hotter-than-expected inflation data only to surge higher and extend gains into the closing bell. “While I certainly wouldn’t classify this morning’s flush capitulatory, the stock market is dealing with disappointing inflation reports a lot better than a short time ago,” said Mark Arbeter, president of Arbeter Investments LLC, in note. The Dow Jones Industrial Average (DJIA) fell just shy of 550 points, or 1.88%, but ended the day up 827.87 points, or 2.8%, at 30,038.72.
Wells Fargo Co’s earnings report is out. One head-turner: a $2 billion charge. Here are the highlights: + The bank said the charge was tied to resolving its long-running legal and regulatory issues. The bank didn’t give much in the way of details except to say this: “Our solid business performance in the third quarter was significantly impacted by $(2.0) billion, or $(0.45) per share, in operating losses related to litigation, customer remediation, and regulatory matters primarily related to a v
Proposed regulations related to required minimum distributions from inherited IRAs were confusing. But the IRS has provided much-needed clarity and tax relief.
Futures rose after stocks rebounded powerfully Thursday from bear market lows. UnitedHealth, JPMorgan Chase lead big earnings.
Nio (NYSE: NIO) stock has tanked more than 40% in the last month, far outpacing the approximately 14% decline in the S&P 500 index. Nio shares continue to slide today, down 2.5% as of 11:25 a.m. ET. Nio doesn't yet do business in the U.S., but the prospect for the Federal Reserve to have to raise rates even more than hoped has global implications.
Shares of Novavax (NASDAQ: NVAX) were skyrocketing 31.6% this week as of 3:18 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence. On Monday, Swiss regulators recommended the use of Novavax's Nuvaxovid COVID-19 vaccine as a booster in adults ages 18 and older. Novavax's partner, SK Bioscience, also filed for South Korean approval of Nuvaxovid as a booster.
Last month, the Federal Reserve implemented its fifth straight interest rate hike this year, and its third consecutive hike at 75 basis points, bringing its key funds rate up to the 3% to 3.25% range. The move showed that the central bank is deadly serious about taking on the stubbornly high inflation that has been plaguing the economy since the middle of 2021. The Fed’s turn toward an aggressive anti-inflationary policy may not be hard enough, however, as the September data, released this morni
The San Francisco-based bank posts third-quarter earnings of 85 cents a share on $19.5 billion in revenue.
Ark Invest CEO Cathie Wood doesn't doubt that the U.S is in a recession.
MarketWatch Picks has highlighted these products and services because we think readers will find them useful; the MarketWatch News staff is not involved in creating this content. And at a 2009 shareholder meeting, Buffett noted that the first best thing you can do to protect against inflation is to invest in yourself and your skills: “If you’re the best teacher, if you’re the best surgeon, if you’re the best lawyer, you will get your share of the national economic pie regardless of the value of whatever the currency may be,” he said.
Right-wing conspiracy figure Alex Jones’ company has already filed for bankruptcy protection, and it’s not clear how much of the staggering $965 million verdict reached Tuesday he’ll actually wind up paying to the 15 plaintiffs in the defamation case about his lies about the Sandy Hook Elementary school shooting. Jones plans to appeal the massive […]
Inflation is high, the Fed is aggressively hiking interest rates, and the markets keep testing their lows for the year. The rest of this week will see several key monthly reports, including the consumer price index, or the inflation report, on Thursday. Currently, inflation is up 8.3% since last year, and economists are expecting that number to decline to 8.1%. Jim Cramer, the well-known host of CNBC’s ‘Mad Money’ program, is finding a silver lining in the current situation, telling investors, “
Top coronavirus vaccine maker Moderna (NASDAQ: MRNA) used to be one of the stock market's stars. Sure, Moderna continues to bring in billions of dollars in vaccine revenue. First, let's take a step back and look at what Moderna's done so far.
When it comes to claiming Social Security, most retirees can't wait to start collecting those checks. A 2020 report from the Bipartisan Policy Center found that more than 70% of Social Security beneficiaries currently claim their benefits before age 64. … Continue reading → The post Boost Your Social Security Benefits in Retirement With This ‘Bridge' Strategy appeared first on SmartAsset Blog.