10-Q Filing

RICHARDSON ELECTRONICS, LTD. CIK: 355948 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-053027`
Period End Date	20230831
Filing Date	20231012
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	rell-20230902_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 30 Cash Flow Statement 48 Stockholders Equity 24

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$191.00K	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$197.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.98M	USD	Point-in-time
Accounts receivable, less allowance of $197 and $191, respectively	`AccountsReceivableNetCurrent`	$25.58M	USD	Point-in-time
Accounts receivable, less allowance of $197 and $191, respectively	`AccountsReceivableNetCurrent`	$30.07M	USD	Point-in-time
Inventories, net	`InventoryNet`	$113.60M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$110.40M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.63M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.27M	USD	Point-in-time
Preferred Stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$165.57M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$168.08M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$21.03M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$20.82M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.83M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.89M	USD	Point-in-time
Right of Use lease asset	`OperatingLeaseRightOfUseAsset`	$2.46M	USD	Point-in-time
Right of Use lease asset	`OperatingLeaseRightOfUseAsset`	$2.35M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$4.53M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$4.53M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$216.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$267.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$29.95M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$29.96M	USD	Point-in-time
Total assets	`Assets`	$195.52M	USD	Point-in-time
Total assets	`Assets`	$198.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.19M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$12.03M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.90M	USD	Point-in-time
Lease liability current	`OperatingAndFinanceLeaseLiabilityCurrent`	$1.08M	USD	Point-in-time
Lease liability current	`OperatingAndFinanceLeaseLiabilityCurrent`	$1.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.59M	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$98.00K	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$98.00K	USD	Point-in-time
Lease liability non-current	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$1.27M	USD	Point-in-time
Lease liability non-current	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$1.43M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$630.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$612.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.16M	USD	Point-in-time
Preferred stock, $1.00 par value, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$70.95M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$71.64M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$87.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$87.04M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$615.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$574.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$159.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$135.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$140.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$160.35M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$195.52M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$198.05M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$67.56M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$52.58M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$35.32M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$44.53M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.03M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.79M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$14.25M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.78M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.47M	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$25.00K	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$71.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$97.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-374.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-32.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$136.00K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$-347.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.43M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.61M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$2.11M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$381.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.32M	USD	1 Quarter
Foreign currency translation loss, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-41.00K	USD	1 Quarter
Foreign currency translation loss, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.31M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.01M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.19M	USD	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.33M	shares	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.54M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.23M	USD	1 Quarter
Net income	`ProfitLoss`	$6.32M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$883.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$998.00K	USD	1 Quarter
Inventory provisions	`InventoryProvisions`	$71.00K	USD	1 Quarter
Inventory provisions	`InventoryProvisions`	$85.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$311.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$483.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-5.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.50M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.46M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$10.47M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.15M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$1.20M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-409.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.37M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.50M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.12M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.21M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-638.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.23M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.01M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.44M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.44M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.39M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$327.00K	USD	1 Quarter
Cash dividends paid on Common and Class B Common shares	`PaymentsOfDividendsCommonStock`	$843.00K	USD	1 Quarter
Cash dividends paid on Common and Class B Common shares	`PaymentsOfDividendsCommonStock`	$819.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-69.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-119.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-635.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$497.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-96.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-686.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.86M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-857.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.49M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.63M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.63M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.98M	USD	Point-in-time

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$159.32M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$135.85M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$140.66M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$160.35M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.32M	USD	1 Quarter
Foreign currency translation, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-41.00K	USD	1 Quarter
Foreign currency translation, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.31M	USD	1 Quarter
Restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$123.00K	USD	1 Quarter
Restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$169.00K	USD	1 Quarter
Stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$314.00K	USD	1 Quarter
Stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$188.00K	USD	1 Quarter
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$327.00K	USD	1 Quarter
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.39M	USD	1 Quarter
Restricted stock issuance	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$-69.00K	USD	1 Quarter
Restricted stock issuance	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$-119.00K	USD	1 Quarter
Common	`DividendsCommonStockCash`	$709.00K	USD	1 Quarter
Common	`DividendsCommonStockCash`	$732.00K	USD	1 Quarter
Class B	`DividendsCommonStockCashClassB`	$110.00K	USD	1 Quarter
Class B	`DividendsCommonStockCashClassB`	$111.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$159.32M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$135.85M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$140.66M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$160.35M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.