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Strategies & Market Trends : Value Investing

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To: anializer who wrote (34047)	4/9/2009 10:25:41 PM
From: Spekulatius	Read Replies (1) of 78748

RELL - good to have spider sense in this market. RELL's earnings (actually they are losses) are a disaster, IMO. rell.com RICHARDSON ELECTRONICS REPORTS THIRD QUARTER FISCAL 2009 RESULTS AND DECLARES CASH DIVIDEND LaFox, IL, April 8, 2009: Richardson Electronics, Ltd. (NASDAQ: RELL) today reported net sales for the third quarter ended February 28, 2009, of $110.3 million, a 20.6% decrease from net sales of $138.9 million for the third quarter of fiscal 2008. The net loss for the third quarter of fiscal 2009 was $11.4 million, compared to a net loss of $2.2 million in the prior year. The net loss of $11.4 million for the third quarter of fiscal 2009 includes $9.7 million of significant charges primarily due to the write-off of $5.8 million of software development costs as a result of the decision that it would be too costly and disruptive to proceed with the related system implementation. Excluding the $9.7 million of significant charges, net loss would have been $1.7 million. A complete reconciliation of these items is provided within this press release under the heading “Certain Non-GAAP Financial Information.”

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