# EDGAR Filing Document

**Accession Number:** 0000355948
**File Stem:** 0001193125-26-006497
**Filing Date:** 2026-1
**Character Count:** 30039
**Document Hash:** fc6e60df3b3636038cf1ec3523e557b6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-006497.hdr.sgml**: 20260107

**ACCESSION NUMBER**: 0001193125-26-006497

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260107

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260107

**DATE AS OF CHANGE**: 20260107

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RICHARDSON ELECTRONICS, LTD.
- **CENTRAL INDEX KEY:** 0000355948
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 362096643
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0530

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-12906
- **FILM NUMBER:** 26516378

**BUSINESS ADDRESS:**
- **STREET 1:** 40W267 KESLINGER RD
- **STREET 2:** PO BOX 393
- **CITY:** LAFOX
- **STATE:** IL
- **ZIP:** 60147
- **BUSINESS PHONE:** 630 208-2200

**MAIL ADDRESS:**
- **STREET 1:** 40W267 KESLINGER ROAD
- **STREET 2:** P.O. BOX 393
- **CITY:** LAFOX
- **STATE:** IL
- **ZIP:** 60147

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RICHARDSON ELECTRONICS LTD/DE
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** January 07, 2026<br>

RICHARDSON ELECTRONICS, LTD.

**(Exact name of Registrant as Specified in Its Charter)**

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---

| | | |
|:---|:---|:---|
| Delaware | 0-12906 | 36-2096643 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 40W267 Keslinger Road<br>P.O. Box 393 |  |  |
| LaFox**,** Illinois |  | 60147-0393 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** (630) 208-2200<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common stock, $0.05 Par Value per share | RELL | The Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On January 7, 2026, Richardson Electronics, Ltd. (the "Company") issued a press release announcing earnings results for the second quarter ended November 29, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein. The information contained in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits

99.1 [<u>Press release issued January 7, 2026, furnished herewith</u>](rell-ex99_1.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  |  | Richardson Electronics, Ltd. |
| Date: | January 7, 2026 | By:  | /s/ Robert J. Ben |
|  |  |  | Chief Financial Officer and Chief Accounting Officer |

---

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## Exhibit 99.1

**EXHIBIT 99.1**

![img150668434_0.jpg](img150668434_0.jpg)

*Press Release*

***For Immediate Release***

---

| | | |
|:---|:---|:---|
| **For Details Contact:** |  | **40W267 Keslinger Road** |
| **Edward J. Richardson** | **Robert J. Ben** | **PO BOX 393** |
| Chairman and CEO | EVP & CFO | LaFox, IL 60147-0393 USA |
| Phone: (630) 208-2320 | (630) 208-2203 | (630) 208-2200 \| Fax: (630) 208-2550 |

---

**RICHARDSON ELECTRONICS REPORTS SECOND QUARTER RESULTS; DECLARES QUARTERLY CASH DIVIDEND**

*Q2 FY26 net sales increased YoY for the 6th consecutive quarter; led by a 39% YoY increase in* 

*GES net sales*

**LaFox, IL, JANUARY 7, 2026:** Richardson Electronics, Ltd. (NASDAQ: RELL) today reported financial results for its second quarter ended November 29, 2025. The Company also announced that its Board of Directors declared a $0.06 per share quarterly cash dividend.

"We delivered solid second-quarter fiscal 2026 revenue growth of 5.7%, led by strong year-over-year performance in our Green Energy Solutions (GES) business," said Edward J. Richardson, Chairman, CEO, and President. "Excluding Healthcare, where the majority of assets were divested in January 2025, net sales increased 9%. In a fluid macro environment, higher volumes combined with disciplined cost management drove a significant year-over-year improvement in operating income.

"For the first six months of fiscal 2026, our focused execution and profitable growth strategy generated strong profitability and improved operating leverage. With a strong balance sheet, durable customer relationships, and a highly capable team, we are well positioned to drive continued earnings improvement and value creation for shareholders for the remainder of the year," Mr. Richardson concluded.

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**<u>Second Quarter Results</u>**

Net sales for the second quarter of fiscal 2026 were $52.3 million, a 5.7% increase from $49.5 million in the prior year's second quarter. When excluding Healthcare, net sales increased 9.0% year-over-year.

Year-over-year net sales growth was due to higher sales in Green Energy Solutions (GES) and Canvys. GES sales increased by $2.3 million, or 39.0% due to an increase in power management products. Canvys sales increased $1.9 million, or 28.1%, reflecting higher sales in North America. As a result of the January 2025 Healthcare asset sale, the Healthcare segment has been consolidated into the Power & Microwave Technologies (PMT) segment for the second quarter of fiscal 2026 and fiscal 2025. Sales for PMT were 4.0% below the second quarter of fiscal 2025. When excluding Healthcare net sales, PMT net sales were approximately flat.

Backlog totaled $135.7 million at the end of the second quarter of fiscal 2026, versus $134.7 million at the end of the first quarter of fiscal 2026, primarily driven by an increase in PMT. Backlog in GES declined slightly due to the timing of new orders, which can fluctuate quarter-to-quarter given the project-based nature of this segment. However, the GES sales pipeline remains healthy, supported by both new and existing programs.

Gross margin for the second quarter was 30.8% of net sales, compared to 31.0% during the second quarter of fiscal 2025. PMT gross margin decreased to 30.4%, compared to 30.7%, as a result of product mix and higher manufacturing under absorption. GES gross margin decreased to 30.3%, from 32.0% due to product mix. Canvys gross margin increased to 32.6%, from 31.7% primarily due to a favorable product mix and lower freight costs.

Operating expenses were $15.9 million, compared to $16.0 million in the second quarter of fiscal 2025. As a percentage of net sales, operating expenses improved to 30.5% in the second quarter of fiscal 2026 versus 32.3% in the prior year's second quarter. The decrease in operating expenses resulted from lower travel expenses.

Operating income was $0.1 million for the second quarter of fiscal 2026, compared to an operating loss of $0.7 million in the prior year's second quarter. Other expenses for the second quarter of fiscal 2026, including interest income, foreign exchange, and other, were $0.3 million, compared to other expenses of $0.4 million in the second quarter of fiscal 2025.

Income tax benefit was $0.1 million for the second quarter of fiscal 2026, versus an income tax benefit of $0.3 million in the prior year's second quarter. The effective tax benefit rate for the quarter was 38.3% compared to 28.8% in the second quarter of fiscal 2025.

Net loss was $0.1 million for the second quarter of fiscal 2026, compared to $0.8 million in the second quarter of fiscal 2025. Net loss per common share (diluted) was $0.01 in the second quarter of fiscal 2026, compared to net loss per common share (diluted) of $0.05 in the second quarter of fiscal 2025.

EBITDA improved to $0.7 million in the second quarter of fiscal 2026, from breakeven in the prior year's second quarter.

The Company maintained a solid financial position and had cash and cash equivalents of $33.1 million as of November 29, 2025, versus $35.7 million as of August 30, 2025. Cash used during the second quarter of fiscal 2026 primarily related to capital expenditures, and the payment of dividends. The Company invested $1.6 million during the quarter in capital expenditures, primarily related to its manufacturing business, facilities improvements, and IT systems, versus $0.5 million during last year's second quarter.

As of the end of the second quarter of fiscal 2026, the Company had no outstanding debt on its revolving line of credit with PNC Bank.

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**<u>Financial Summary for the Six Months Ended November 29, 2025</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net sales for the first six months of fiscal 2026 were $106.9 million, an increase of 3.6%, compared to net sales of $103.2 million during the first six months of fiscal 2025. When excluding Healthcare, net sales increased 7.8% year-over-year. Sales increased by $1.5 million or 10.7% for GES and $2.6 million or 17.7% for Canvys, partially offset by a decrease of $0.4 million or 0.5% for PMT. When excluding Healthcare net sales, PMT net sales increased 5.2%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Gross profit increased to $33.0 million during the first six months of fiscal 2026, compared to $31.8 million during the first six months of fiscal 2025. As a percentage of net sales, gross margin was 30.9% of net sales during the first six months of fiscal 2026, compared to 30.8% during the first six months of fiscal 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Operating expenses decreased to $31.9 million for the first six months of fiscal 2026, compared to $32.1 million for the first six months of fiscal 2025. As a percentage of net sales, operating expenses were 29.8% in the first six months of fiscal 2026 versus 31.1% in the prior year's first six months. The decrease in operating expenses resulted primarily from lower travel expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Operating income during the first six months of fiscal 2026 was $1.1 million, compared to an operating loss of $0.4 million during the first six months of fiscal 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Other income, for the first six months of fiscal 2026, including interest income, foreign exchange, and other, was $1.0 million, as compared to other expense of less than $0.1 million in the first six months of fiscal 2025. The increase from the prior year's first six months was mainly due to a non-recurring gain of $0.9 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The income tax provision was $0.3 million for the first six months of fiscal 2026 compared to an income tax benefit of $0.2 million during the first six months of fiscal 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net income for the first six months of fiscal 2026 was $1.8 million, versus a net loss of $0.2 million during the first six months of fiscal 2025. Earnings per common share (diluted) were $0.12 for the first six months of fiscal 2026 compared to $0.01 net loss per common share (diluted) for the first six months of fiscal 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•EBITDA for the first six months of fiscal 2026 was $4.0 million versus $1.7 million in the prior year's first six months.

**<u>CASH DIVIDEND DECLARED</u>** 

The Board of Directors of Richardson Electronics declared a $0.06 quarterly cash dividend per share to holders of common stock and a $0.054 cash dividend per share to holders of Class B common stock. The dividend will be payable on February 25, 2026, to common stockholders of record as of February 6, 2026.

**<u>NON-GAAP FINANCIAL MEASURE</u>**

In addition to the results reported in accordance with generally accepted accounting principles in the United States (GAAP) included throughout this press release, the Company has provided information regarding "EBITDA" (a "non-GAAP financial measure"). This non-GAAP financial measure reflects earnings before interest, income tax, depreciation and amortization expenses. Detailed reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in this press release.

Management believes that the disclosure of this non-GAAP financial measure provides useful information to investors in assessing the Company's financial performance excluding items that are not considered by the Company to be indicative of the Company's ongoing results. Our management uses this non-GAAP financial measure along with the most directly comparable GAAP financial measure in evaluating our financial performance and when planning, forecasting and analyzing future periods. The non-GAAP

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financial measure presented herein, as determined and presented by the Company, may not be comparable to related or similarly titled measures reported by other companies. The non-GAAP financial measure incorporated herein is not intended to be used as a substitute for the related GAAP measurements. The non-GAAP financial measure should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP.

**<u>CONFERENCE CALL INFORMATION</u>**

The Company will host a conference call and question-and-answer session on Thursday, January 8, 2026, at 9:00 a.m. Central Time, to discuss its second quarter fiscal 2026 results.

Participants may register for the call <u>here</u>. While not required, it is recommended you join 10 minutes prior to the event start. A replay of the call will be available beginning at 1:00 p.m. Central Time on January 9, 2026, for seven days. Registration instructions are also on our website at <u>www.rell.com</u>.

In addition, the webcast link is available <u>here</u>.

**<u>FORWARD-LOOKING STATEMENTS</u>** 

This release includes certain "forward-looking" statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company's business that are not historical facts represent "forward-looking" statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, "Risk Factors" in the Company's Annual Report on Form 10-K filed on August 4, 2025, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the "forward-looking" statements in this release as a result of new information, future events or otherwise.

**<u>ABOUT RICHARDSON ELECTRONICS, LTD.</u>** 

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; tubes for diagnostic imaging equipment; and customized display solutions.

More than 55% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our Supplier Code of Conduct. We serve customers in alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company's strategy is to provide specialized technical expertise and "engineered solutions" based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at <u>www.rell.com</u>.

Richardson Electronics' common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

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**Richardson Electronics, Ltd.** 

**Consolidated Balance Sheets**

*(in thousands, except per share amounts)*

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Audited** |
|  | **November 29, 2025** | **May 31, 2025** |
| **Assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Current assets:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $33138 | $35901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, less allowance for credit losses of $301 and $250, respectively | 27393 | 24117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 105167 | 102799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 5845 | 3070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | **171543** | **165887** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Non-current assets:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment, net | 19111 | 18355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets, net | 314 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right of use lease assets, net | 1742 | 2276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax assets | 8696 | 8744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets | 360 | 228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current assets** | **30223** | **29948** |
| **Total assets** | $**201766** | $**195835** |
| **Liabilities and Stockholders' Equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $23574 | $21339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 16824 | 14276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities current | 1038 | 1171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | **41436** | **36786** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Non-current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax liabilities | 82 | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities non-current | 704 | 1105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities | 1069 | 1204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current liabilities** | **1855** | **2390** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | **43291** | **39176** |
| **Commitments and contingencies** |  |  |
| **Stockholders' Equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.05 par value; 12,481 and 12,362 shares issued <br> and outstanding on November 29, 2025 and May 31, 2025, respectively | 623 | 618 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B common stock, convertible, $0.05 par value; 2,037 and 2,049 shares<br>&nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding on November 29, 2025 and May 31, 2025,<br>&nbsp;&nbsp;&nbsp;&nbsp;respectively | 102 | 102 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in-capital | 75521 | 74445 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 79412 | 79340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 2817 | 2154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total stockholders' equity** | **158475** | **156659** |
| **Total liabilities and stockholders' equity** | $**201766** | $**195835** |

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**Richardson Electronics, Ltd.** 

**Unaudited Consolidated Statements of Comprehensive (Loss) Income** 

*(in thousands, except per share amounts)*

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **November 29,<br>2025** | **November 30,<br>2024** | **November 29,<br>2025** | **November 30,<br>2024** |
| Net sales | $52288 | $49491 | $106895 | $103216 |
| Cost of sales | 36211 | 34165 | 73889 | 71464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Gross profit** | **16077** | **15326** | **33006** | **31752** |
| Selling, general and administrative expenses | 15942 | 15995 | 31903 | 32107 |
| Loss (gain) on disposal of property, plant and equipment | 3 | (2) | 3 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Operating income (loss)** | **132** | **(667)** | **1100** | **(351)** |
| Other income (expense): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | 145 | 45 | 314 | 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange loss | (479) | (437) | (190) | (160) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 6 | 4 | 910 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total other (expense) income** | **(328)** | **(388)** | **1034** | **(56)** |
| (Loss) income before income taxes | (196) | (1055) | 2134 | (407) |
| Income tax (benefit) provision | (75) | (304) | 346 | (246) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net (loss) income** | **(121)** | **(751)** | **1788** | **(161)** |
| Foreign currency translation (loss) gain, net of tax | (391) | (1748) | 663 | (1112) |
| **Comprehensive (loss) income** | $**(512)** | $**(2499)** | $**2451** | $**(1273)** |
| **Net (loss) income per share:** |  |  |  |  |
| Common stock - Basic | $(0.01) | $(0.05) | $0.12 | $(0.01) |
| Class B common stock - Basic | (0.01) | (0.05) | 0.11 | (0.01) |
| Common stock - Diluted | (0.01) | (0.05) | 0.12 | (0.01) |
| Class B common stock - Diluted | (0.01) | (0.05) | 0.11 | (0.01) |
| **Weighted average number of shares:** |  |  |  |  |
| Common stock – Basic | 12459 | 12315 | 12426 | 12258 |
| Class B common stock – Basic | 2047 | 2049 | 2048 | 2049 |
| Common stock – Diluted | 12459 | 12315 | 12583 | 12258 |
| Class B common stock – Diluted | 2047 | 2049 | 2048 | 2049 |

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**Richardson Electronics, Ltd.** 

&nbsp;&nbsp;&nbsp;&nbsp;**Unaudited Consolidated Statements of Cash Flows**

*(in thousands)*

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **November 29,<br>2025** | **November 30,<br>2024** | **November 29,<br>2025** | **November 30,<br>2024** |
| **Operating activities:** |  |  |  |  |
| Net (loss) income | $(121) | $(751) | $1788 | $(161) |
| Adjustments to reconcile net income to cash (used in) provided by operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized foreign currency loss (gain) | 347 | 141 | (164) | (241) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 937 | 1015 | 1908 | 2059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory provisions | 77 | 84 | 179 | 223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | 325 | 313 | 966 | 906 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) on disposal of property, plant and equipment | 3 | (2) | 3 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (13) | (21) | 36 | (79) |
| Change in assets and liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (520) | 4721 | (3174) | (1137) |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | (915) | (1617) | (1493) | (1741) |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (2981) | 67 | (2921) | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 462 | 500 | 2088 | 4664 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 2511 | 641 | 2361 | 546 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (211) | 374 | (309) | 804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash (used in) provided by operating activities** | **(99)** | **5465** | **1268** | **5877** |
| **Investing activities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (1606) | (517) | (2631) | (1443) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of property, plant and equipment |  |  |  | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used in investing activities** | **(1606)** | **(517)** | **(2631)** | **(1436)** |
| **Financing activities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of common stock | 153 | 163 | 214 | 307 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash dividends paid on common and Class B common stock | (859) | (853) | (1716) | (1703) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from revolving credit facility |  |  |  | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayment of revolving credit facility |  |  |  | (1000) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | 3 | (99) | (159) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used in financing activities** | **(706)** | **(687)** | **(1601)** | **(1555)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Effect of exchange rate changes on cash and cash equivalents | (105) | (661) | 201 | (514) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Decrease) increase in cash and cash equivalents** | **(2516)** | **3600** | **(2763)** | **2372** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents at beginning of period | 35654 | 23035 | 35901 | 24263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cash and cash equivalents at end of period** | $**33138** | $**26635** | $**33138** | $**26635** |

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**Richardson Electronics, Ltd.**

**Unaudited Net Sales and Gross Profit**

**For the Second Quarter and First Six Months of Fiscal 2026 and 2025**

*($ in thousands)*

**By Strategic Business Unit**

**Net Sales**

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| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **FY26 vs. FY25** |
|  | **November 29, 2025** | **November 30, 2024** | **% Change** |
| PMT | $35208 | $36666 | -4.0% |
| GES | 8301 | 5974 | 39.0% |
| Canvys | 8779 | 6851 | 28.1% |
| Total | $52288 | $49491 | 5.7% |

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| | | | |
|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **FY26 vs. FY25** |
|  | **November 29, 2025** | **November 30, 2024** | **% Change** |
| PMT | $74277 | $74667 | -0.5% |
| GES | 15564 | 14060 | 10.7% |
| Canvys | 17054 | 14489 | 17.7% |
| Total | $106895 | $103216 | 3.6% |

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**Gross Profit**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **November 29, 2025** | **% of Net Sales** | **November 30, 2024** | **% of Net Sales** |
| PMT | $10698 | 30.4% | $11241 | 30.7% |
| GES | 2514 | 30.3% | 1914 | 32.0% |
| Canvys | 2865 | 32.6% | 2171 | 31.7% |
| Total | $16077 | 30.8% | $15326 | 31.0% |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **November 29, 2025** | **% of Net Sales** | **November 30, 2024** | **% of Net Sales** |
| PMT | $22924 | 30.9% | $22672 | 30.4% |
| GES | 4664 | 30.0% | 4288 | 30.5% |
| Canvys | 5418 | 31.8% | 4792 | 33.1% |
| Total | $33006 | 30.9% | $31752 | 30.8% |

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**Richardson Electronics, Ltd.**

**Unaudited Reconciliation Between GAAP and Non-GAAP Financial Measures**

**For the Second Quarter and First Six Months of Fiscal 2026 and 2025**

*($ in thousands)*

**EBITDA**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **November 29, 2025** | **November 30, 2024** |
| **Net loss** | $(121) | $(751) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense benefit | (75) | (304) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation & amortization | 937 | 1015 |
| **EBITDA** | $741 | $(40) |
|  | **Six Months Ended** | **Six Months Ended** |
|  | **November 29, 2025** | **November 30, 2024** |
| **Net income (loss)** | $1788 | $(161) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) | 346 | (246) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation & amortization | 1908 | 2059 |
| **EBITDA** | $4042 | $1652 |

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