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Press Release For Immediate Release Exhibit 99.1 Richardson Electronics For Details Contact : Edward J. Richardson Chairman and CEO Phone : ( 630 ) 208-2205 Robert J. Ben EVP & CFO ( 630 ) 208-2203 www.rell.com|info@rell.com 40W267 Keslinger Road PO BOX 393 LaFox , IL 60147-0393 USA ( 630 ) 208-2200 | Fax : ( 630 ) 208-2550 RICHARDSON ELECTRONICS REPORTS THIRD QUARTER FISCAL 2021 NET INCOME OF $ 0.2 MILLION AND NON - GAAP NET INCOME * OF $ 1.8 MILLION ; DECLARES QUARTERLY CASH DIVIDEND Healthcare , PMG and Semiconductor Wafer Fab Revenues Grow Versus Q3 FY20 ; Higher ALTA750 ™ Tube Sales Q3 and FY21 Highlights • • • Net sales of $ 45.2 million were up 18.3 % from last year's third quarter and up 6.6 % over the second quarter of fiscal 2021 . Sales increased for Healthcare , PMG and Semiconductor Wafer Fabrication Equipment products in the third quarter of fiscal 2021 versus the third quarter of fiscal 2020 . Gross margin improved to 34.9 % of net sales for the third quarter of fiscal 2021 versus 33.1 % of net sales in the prior year's third quarter due to a favorable product mix . Operating expenses increased $ 2.8 million to $ 15.5 million compared to the prior year's third quarter . This increase included a one - time cost of $ 1.6 million for a legal settlement with Varex Imaging Corporation . Richardson did not admit liability , but wanted to move forward selling its ALTA750 TM tubes and avoid further legal expenses . Employee incentive expense also increased due to the substantially improved performance and legal fees increased by $ 0.3 million . Operating income was $ 0.3 million and Non - GAAP operating income * was $ 1.9 million compared to an operating income of $ 11,000 in last year's third quarter . Earnings per common share ( diluted ) was $ 0.02 and Non - GAAP earnings per common share ( diluted ) * was $ 0.14 for the third quarter of fiscal 2021 . Cash and investments were $ 47.4 million as of February 27 , 2021 versus $ 46.0 million on November 28 , 2020 and $ 43.9 million on February 29 , 2020 . LaFox , IL , APRIL 7 , 2021 : Richardson Electronics , Ltd. ( NASDAQ : RELL ) today reported financial results for its third quarter ended February 27 , 2021. The Company also announced that its Board of Directors declared a $ 0.06 per share quarterly cash dividend . Third Quarter Results Net sales for the third quarter of fiscal 2021 increased 18.3 % to $ 45.2 million compared to net sales of $ 38.2 million in the prior year's third quarter primarily due to higher net sales for Richardson Healthcare