RF Industries Ltd. common stock to begin trading on
NASDAQ Smallcap Market exchange
SAN DIEGO--(BUSINESS WIRE)--June 11, 1997--RF Industries Ltd., (OTC:RFIL) Tuesday announced that its common stock has been approved by the National Association of Securities Dealers (NASD) to commence trading on the NASDAQ SmallCap Market (SM) exchange, under the symbol ``RFIL'' on Thursday, June 12.
``Everyone at RFI has worked hard to improve the company's financial strength. Since 1993, sales have tripled and stockholders' equity and assets have doubled. We are confident that ourshareholders, customers and employees will benefit from the increased visibility and more efficient market afforded to the company by our NASDAQ listing,'' said Howard Hill, president and chiefexecutive officer.
For the six-month period ended April 30, RF Industries net income increased 40 percent to $344,000, or 11 cents per share, compared with $245,000, or 8 cents per share, in the first half of fiscal 1996. Sales increased 69 percent to $3,679,000 from $2,180,000 last year.
At April 30, RFI reported cash and short-term investments of 1,458,000, working capital of $4,222,000, a 9-to-1 current ratio, no debt and stockholders' equity of $4,382,000, or $1.40 per share. Backlog at April 30 was $3.3 million, compared with backlog of $3.6 million last year.
RFI's Connectors division manufactures, distributes and designs radio frequency (RF) coaxial connectors used in personal communication systems (PCS), radio communications, test instruments, PC LAN's and antenna devices. The RF Neulink division designs and manufactures
wireless digital data transmission products for industrial monitoring, linking wide area networks, GPS tracking and locations systems. |
