RF Industries Ltd. (Nasdaq: RFIL), a San Diego-based company that manufactures, designs and distributes radio frequency connectors and cable assemblies and cabling products, announced record quarterly sales and consolidated net income for the fourth quarter and fiscal year ended Oct. 31, 2012, according to a release.
Results announced Tuesday show that for the fourth quarter ended Oct. 31, 2012, the company had revenues of $10.5 million, an increase of $4.6 million, or 77 percent, as compared to $5.95 million in the same quarter of fiscal 2011. Consolidated net income for the quarter was $1.2 million, or $0.17 per basic and $0.15 per diluted share, compared to a consolidated net loss of $50,000, or $0.01 net loss per basic and diluted share in the fourth quarter of 2011.
Growth in the quarter was led by the company's Cables Unlimited and RadioMobile divisions, said CEO Howard Hill. The company's Cables Unlimited division introduced in 2012 its newly designed custom fiber optic and direct current power cabling for wireless towers, a product Hill said continues to see strong demand into 2013.
Sales at Cables Unlimited were $4.9 million for the fourth quarter compared to $1.7 million in the fourth quarter of fiscal 2011.
The report also showed that for the fiscal year ended Oct. 31, 2012, overall company revenues increased 56 percent at RFI to $30 million as compared to revenues of $19 million in fiscal 2011. Consolidated net income was $2.6 million or $0.38 per basic and $0.34 per diluted share as compared to consolidated net income of $773,000 or $0.12 per basic and $0.11 per diluted share in the prior year.
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