Benzinga | Dec 22, 2021 09:17AM EST

RF Industries Registers 97% Sales Growth In Q4

* RF Industries Ltd (NASDAQ:RFIL) reported fourth-quarter FY21 net sales growth of 97% year-on-year to $21.1 million, beating the Street view of $16.5 million.

* Backlog was $33.3 million as of October 31, on Q4 bookings of $22.9 million.

* Non-GAAP EPS of $0.10 missed the estimate of $0.12.

* Gross profit margin contracted 250 bps Q/Q to 25.3%.

* The operating income rose 180% Q/Q to $1.1 million. Adjusted EBITDA was $1.5 million, up 47% Q/Q.

* RF Industries held $13.1 million in cash and equivalents.

* Robert Dawson, the CEO, commented: "The team did a great job to overcome the headwinds presented by the current state of the supply chain and increases in material and shipping costs."

* Outlook: RF Industries sees FY22 sales of over $63 million.

* Price Action: RFIL shares traded higher by 0.13% at $7.54 in the premarket session on the last check Wednesday.