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Press Release For Immediate Release For Details Contact : Edward J.Richardson Chairman and CEO Phone : ( 630 ) 208-2320 ● ● ● Robert J. Ben EVP & CFO ( 630 ) 208-2203 ● $ RICHARDSON ELECTRONICS REPORTS FIRST QUARTER FISCAL 2022 NET INCOME OF $ 2.6 MILLION AND DECLARES QUARTERLY CASH DIVIDEND PMT , Canvys and Healthcare Revenues Grow Versus Q1 FY21 ● Richardson Electronics Q1 Highlights Net sales of $ 53.7 million were up 38.4 % from last year's first quarter and up 6.4 % over the fourth quarter of fiscal 2021 . Sales increased year - over - year for PMG , Canvys , Healthcare and Semiconductor Wafer Fabrication Equipment products in the first quarter of fiscal 2022 versus the first quarter of fiscal 2021 . Gross margin was 30.3 % of net sales for the first quarter of fiscal 2022 versus 31.8 % of net sales in the prior year's first quarter due to product mix . www.rell.com | info@rell.com 40W267 Keslinger Road PO BOX 393 LaFox , IL 60147-0393 USA ( 630 ) 208-2200 | Fax : ( 630 ) 208-2550 Operating expenses increased $ 0.5 million to $ 13.5 million compared to the prior year's first quarter . Employee compensation expenses increased , including higher incentive expense due to the substantially improved performance . This increase was partially offset by lower legal fees . Operating income was $ 2.8 million for the first quarter of fiscal 2022 compared to an operating loss of $ 0.6 million in the first quarter of fiscal 2021 . Earnings per common share ( diluted ) were $ 0.20 for the first quarter of fiscal 2022 compared to a loss of $ 0.09 per common share ( diluted ) in the first quarter of fiscal 2021 . Cash and investments were $ 36.4 million as of August 28 , 2021 versus $ 43.3 million on May 29 , 2021 and $ 42.5 million on August 29 , 2020. The use of cash was related to higher working capital to support sales growth . LaFox , IL , OCTOBER 6 , 2021 : Richardson Electronics , Ltd. ( NASDAQ : RELL ) today reported financial results for its first quarter ended August 28 , 2021. The Company also announced that its Board of Directors declared a $ 0.06 per share quarterly cash dividend . First Quarter Results Net sales for the first quarter of fiscal 2022 increased 38.4 % to $ 53.7 million compared to net sales of $ 38.8 million in the prior year's first quarter due to higher net sales across all three business units . PMT sales increased $ 12.8 million or 42.2 % from last year's first quarter because of higher sales of power conversion and RF and microwave components as well as specialty products for semiconductor wafer fab equipment . Sales for most of the Electron Tube product lines increased from the first quarter of fiscal 2021 . Canvys sales increased by $ 1.7 million or 25.8 % due to strong customer demand in Europe . Richardson Healthcare sales increased $ 0.4 million or 22.0 % primarily due to an increase in demand for the ALTA750T Tubes , partially offset by lower sales of parts and pre - owned CT scanners in Latin America .