Wireless products and video display equipment distributor Richardson Electronics Ltd. posted a fiscal third-quarter profit Thursday.
For the three months ended Feb. 27, the company earned $4.5 million, or 25 cents per share, compared with a loss of $11.4 million, or 65 cents a share, in the same period a year earlier.
Revenue rose 10 percent to $121.3 million from $110.3 million.
Selling, general and administrative expenses fell 14 percent to $23.7 million.
"Our sales increase reflects growth in all three of our business units and suggests that the global economic conditions are improving," said Edward J. Richardson, chairman, president and CEO, in a statement.
For the current quarter, the company expects revenue of $130 million to $135 million, up 13 percent to 17 percent from a year earlier.
Shares rose 52 cents, or 5.9 percent, to close at $9.38. They added another 62 cents, or 6.6 percent, to $10 in aftermarket activity. They have ranged from $2.84 to $8.88 over the past year.
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